Global Star Rating System for Services
Department of Economic Development – Ajman
Abdullah Al Hamrani “We continue to advance a sustainable economy in the year of sustainability 2024” Ajman Competitiveness Office contracts with JLL to enhance the competitiveness of the real estate sector

Abdullah Al Hamrani “We continue to advance a sustainable economy in the year of sustainability 2024” Ajman Competitiveness Office contracts with JLL to enhance the competitiveness of the real estate sector

Thursday, 07 March 2024

The Ajman Competitiveness Office of the Department of Economic Development in Ajman (Ajman DED) announced its contract with (JLL), the leading international institution in the field of real estate services and investment management, to anticipate the future of the real estate sector in Ajman, enhance its competitiveness, and create new opportunities for success, by developing pioneering capabilities and capacities characterized by innovation, proactiveness and flexibility. This comes in line with the Ajman's strategy aimed at supporting economic growth, enhancing the attractiveness of investment in various sectors, especially the real estate sector. The results of the study will contribute to drawing a road map for the future of its real estate sector at the regional and international levels. 

H.E Abdullah Ahmed Al Hamrani - Director General of the Ajman DED, said: “We always strive to achieve sustainable economic development and support the Ajman’s competitiveness in all sectors, and reach our goals in cooperation with various partners at the local and international levels, and we look forward to working with JLL to in-depth evaluation comprehensive of the reality of the real estate market, which annually contributes about 30% to the GDP of Ajman, based on innovative and smart methods and process of work that take into account the characteristics of the green economy that are concerned with the environment and social well-being, to ensure the creation of an integrated system of future policies and strategies that serve the sector and enable it to continue to thrive. growth and prosperity.” 

For his part, H.E. Abdulrahman Mohammed Al Nuaimi, Director-General of the Municipality and Planning Department in Ajman, explained that Ajman has today become one of the most attractive investment emirates for residents, visitors, tourists and entrepreneurs, as it provides the elements for an ideal and comfortable life. It is also a destination for visitors because it embraces all the elements of luxury. It has a developed and integrated infrastructure, equipped according to the highest international standards and specifications. It is also characterized by air quality, increased green space, and ease of completing transactions at any time and place. Al Nuaimi indicated that Ajman is strongly moving forward in advancing investment, supporting projects, and ensuring their continuity and success. The Department emphasizes its consistency with all plans of institutions and entities in Ajman seeking to develop the real estate sector and achieve the best results, and works to strengthen joint cooperation to implement joint projects in the vital sector.

Al Nuaimi spoke about the success achieved by the value of rental contracts last year, 2023, to reach AED 4 billion, an increase of 39.92% compared to 2022, indicating that the results reflect everyone’s desire to settle in the Emirate of Ajman, which provides all kinds of incentives, facilities, and support to residents and investors. So, the legislation and regulations are characterized by flexibility and helping entrepreneurs, in addition to smart transformation that contributed to accelerating the completion of transactions.

He stated that efforts will be made during the coming period to achieve the best to continue the process of prosperity in the real estate field and ensure the accomplishment of qualitative achievements. 

In turn, H.E. Eng. Omar bin Omair Al Muhairi, Director-General of the Department of Land & Real Estate Regulation, stated: “During the year 2023, Ajman witnessed a boom in the real estate market. The total value of real estate transactions exceeded AED 16.9 billion, with an unprecedented growth estimated at 43% compared to the year 2022.” It is expected that the demand and appetite for this vital sector will continue to rise, and this is attributed to the attractiveness of the real estate investment environment in the emirate, and this confirms the importance of intensifying the concerted efforts of partners and working in an integrated and harmonious manner in the next stage to preserve these achievements, sustain its attractiveness, and grow its performance.'' 

For his part, H.E. Mahmoud Khalil Al Hashimi, Director-General of the Ajman Tourism Development Department (ATDD), said: “We, in turn, are committed to developing the potential of the tourism sector by enhancing competitiveness and creating innovative investment opportunities, which contributes to developing future strategies that meet the market needs and enhance the growth of the real estate and tourism sector at both levels regional and international, and we believe that this partnership will contribute significantly to building an integrated system that enhances the attractiveness and position of Ajman as a distinguished investment destination on the international scene.'' 

Saeed Humood Saeed, Director of the Ajman Competitiveness Office of the Ajman DED, explained: “We are working to enhance the competitiveness of Ajman’s economy in various sectors, and our priority during the current stage is the comprehensive strategic assessment of competitive capabilities and capacities in terms of legislation, services and infrastructure, and JLL’s research will contribute to the sector transparency of the real estate project, which is expected to be completed by the end of the first half of this year, will provide a diagnostic vision of the Ajman’s capabilities, and will result in setting a development road map for the future of this pivotal sector.'' 

It is worth noting that JLL company is considered one of the leading companies in the field of real estate transparency, as it has issued, since 1999, the Global Real Estate Transparency Index once every two years. This index Regulatory and legal environments, transactions and sustainability mechanisms across 156 global cities in 94 countries and territories