Ajman, located alongside the Persian Gulf, is the smallest city of United Arab Emirates. The city is adjacent to Sharjah and Dubai, comprising 90% population of the emirate of Ajman. It is ruled by his highness Sheikh Humaid bin Rashid Al Nuaimi. Ajman’s commercial market comprises of retail shops, companies, banks, fishing industry and seafood imports and exports company.
Ajman’s Municipality and Planning Department was established in 1968 to integrate the city’s planning and infrastructure, issuing a license for building and trading, expansion of roads, broadening of health care sector and agricultural policies.
During the 18th century, pearl trading was the source of economy for the city. Currently, Ajman’s main source of economy encompasses real estate, manufacturing, wholesale and retail sector, construction, transport and business services. And real estate sector grabbed huge investment of overall investment of the city during 2012.
In 2004, Ajman became the first emirates to introduce freehold properties to global investors. This led to the rapid growth of real estate market, along with global investors announcing to start projects worth billions. However, for the present population, the figure of the plan of projects to be built was high and the development was halted. Hence Ajman Real Estate Regulatory Agency (ARRA) was established. Under ARRA policies and regulations, a number of real estates projects are being developed in both residential and commercial sectors. It is also planning to help developers with secure bank funding.
Residential and commercial properties are in a boom for buyers and relocators, willing to move to Ajman. Apartments, villas, penthouses, townhouses are available for sale and rent in residential sector for relocating inhabitants. Office space, offices, buildings, warehouse, shops, lands, commercial plots are available for sale and rent in the commercial sector, for starting and expanding the business. Also, properties price in Ajman is lower compared to Dubai, Abu Dhabi, and Sharjah.
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