Ajman Municipality & Planning Department announced the increase of the value of rental transactions over the past year, 2022, as rental values registered a growth of AED 512 million, constituting a surge of 28%, as compared with 2020, according to the 2022 annual report issued by the Department.
H.E. Abdul Rahman Mohammed Al Nuaimi, the Director-General of Ajman Municipality & Planning Department, emphasized: “The Emirate of Ajman has become today amongst the most attractive cities for residents, visitors and investors, as it possesses the components of ideal and peaceful living. Furthermore, it is a destination for visitors, as it embraces all the elements of welfare. Ajman is going on strongly in the acceleration of investment, supporting enterprises, and ensuring their continuity and success.”
His Excellency continued: “Rental values of residential leases for the past year, 2022, amounted AED 1.708 billion, whereas they amounted AED 1.478 billion in 2021, and AED 1.409 billion in 2020. The values of commercial leases for the past year amounted AED 1.416 billion, while the values of investment leases amounted AED 161 million.”
His Excellency stated: “The outstanding geographical location of the Emirate, as an interconnection link with the other Emirates, has contributed to the increasing number of residential, commercial and investment leases. The wise leadership of Ajman is offering all types of motivation, facilities and support for the population and investors, as the legislations and bylaws are flexible and supportive for business entrepreneurs. That is in addition to the smart transformation that has contributed to the accelerated processing of transactions.”
His Excellency said: “The qualified competent personnel of the Department have become able to improve the journey of customers by the completion of the projects of integration with the concerned partners in the provision of services and the launching of the electronic and smart systems that have contributed to the completion of transactions in a record time and to yield a positive impact on improving the quality of life of customers according to the Department’s strategic objective for the attainment of balanced urban development.”
From his side, Ammar Abdul Kareem Al Kayed, the Director of the Department’s Rental Regulation Department, stated: “The legalization of leases, of residential, commercial and investment types, has witnessed a remarkable increase over the past year, 2022, as compared with 2021 and 2020, as the staffs have processed 65087 residential lease transactions, 27952 commercial lease transactions, and 232 investment lease transactions.”
