AED16.9 billion of real estate transactions in Ajman in 2023 | Kanebridge News
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AED16.9 billion of real estate transactions in Ajman in 2023

Ajman’s property market soared in 2023, with a staggering 43% increase in transactions compared to the previous year.

By WAM
Wed, Jan 31, 2024 10:26amGrey Clock 2 min

A total of 11,474 deals were registered, exceeding AED16.9 billion in value, according to the annual report issued by the Ajman Department of Land and Real Estate Regulation.

A total of AED10.2 billion was traded across 8,675 transactions, with the highest sale reaching AED136 million in the Al Nakheel 2 neighbourhood.

Sheikh Abdulaziz bin Humaid Al Nuaimi, Chairman of the Department of Land and Real Estate Regulation, said that Ajman’s economy experienced substantial growth in 2023 in various sectors, especially real estate.

“Ajman’s 2023 performance underscored the effectiveness of its targeted economic initiatives, showcasing the resilience and dynamism of its key sectors. The real estate market, bolstered by the leadership’s forward-thinking vision and the government’s regulations and investment facilitation measures, achieved remarkable milestones, with the upward trajectory expected to continue. This lays a strong foundation for the Emirate’s sustainable economic development in the years ahead,” he said.

He explained that the strategic goals of the Ajman Department of Land and Real Estate Regulation revolve around streamlining property registration processes to strengthen competition and boost economic growth. “By actively shaping its future and defining the region’s investment landscape through data-driven insights, the empowered real estate sector will play a leading role in attracting and guiding sustainable investments.”

“The Emirate of Ajman is rapidly transforming into a modern, integrated city, attracting residents who seek a secure and prosperous future,” he stressed.

For his part, Engineer Omar bin Omair Al Muhairi, Director General of the Department of Lands and Real Estate Regulation, said that the emirate of Ajman is steadfastly pursuing its vision of integrated development, with tangible progress across various fronts, thanks to strong collaboration between various stakeholders, including government agencies and institutions.

“The record performance of the real estate market during 2023 stands as a testament to sound policy decisions and robust economic fundamentals,” he explained.

Shedding light on more details, Al Muhairi said that the year 2023 witnessed the registration of 1,971 mortgage transactions with a total value of AED4.8 billion. The highest mortgage value of AED221 million was recorded in the Al Rashidiya 1 area. The Al Yasmeen neighbourhood topped the list of the most traded areas, followed by Al Zahya and Al Helio 2. The Emirates City topped the list of the most traded major projects, ahead of the Ajman One and City Towers projects.

Leading the pack, the emirate’s eastern sector took the top spot with over AED3.9 billion in transactions, driven by the trading of 1,667 plots, 1,269 luxury villas, 4 apartment buildings, and a cluster of 6 shops.



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Tonino Lamborghini Unveils New Luxury Residences in Ras Al Khaimah

Tonino Lamborghini recently revealed a new luxury project comprising 241 units in Ras Al Khaimah, developed in partnership with Arista Developments.

Tue, May 21, 2024 2 min

Named the Tonino Lamborghini Residences, this project promises a fresh take on luxury living with its iconic design, cutting-edge amenities, and stunning sea views.

Set on Al Marjan Island, the development is adding 241 high-end units to the area’s real estate offerings, all reflecting the sleek, Italian elegance associated with the Lamborghini name.

These residences are designed to impress, featuring modern architecture that harmonizes with the scenic surroundings and interiors marked by meticulous craftsmanship and top-quality finishes.

Living in this one of the project’s units means access to a range of upscale amenities: a state-of-the-art fitness center, multiple swimming pools, beautifully landscaped gardens, and dedicated areas for children’s play. The complex also offers a business center with a conference room, an outdoor BBQ area, and a chic café, catering to all aspects of high-end living.

Arch. Abdulla Al Abdouli, Chief Executive Officer, Marjan, expressed excitement about the introduction of Tonino Lamborghini Residences to Al Marjan Island, noting the project’s blend of sustainable construction and smart home technologies. This integration, he mentioned, guarantees a luxurious lifestyle equipped with the finest modern amenities, reflecting the exquisite Italian craftsmanship. He is confident that this new venture with Arista Developments will significantly boost the allure of Al Marjan Island as a top lifestyle destination in Ras Al Khaimah for both investors and residents.

Tonino Lamborghini, President of the Tonino Lamborghini brand, said: “We are delighted to be among the pioneers in this remarkable new destination in one of the seven emirates of the UAE. Our heartfelt gratitude and recognition go to H.H. Sheikh Saud bin Saqr Al Qasimi, Supreme Council Member and Ruler of Ras Al Khaimah, for his visionary leadership and foresight, and for embracing innovative strategies to revitalize a region full of potential.”

Mr. Arthur Chu, Chairman of Arista Developments, highlighted the project’s ambition to capture the essence of the Tonino Lamborghini brand in every aspect of its design. He described the development of a prestigious residential tower on Al Marjan Island that will reflect the lifestyle and beauty synonymous with Lamborghini. From the sharp, well-defined lines of the exterior to the elegantly designed interior common areas, every detail is crafted to showcase the brand’s distinctive elegance and sophistication. Chu emphasized that the interior designs, personally crafted by Tonino Lamborghini, aim to fully immerse residents in the Italian brand’s luxurious identity.

The variety in housing options is vast, ranging from one and two-bedroom apartments to duplexes, sea view villas, signature villas, and exclusive penthouses.

The collaboration between Tonino Lamborghini and Arista Developments blends iconic Italian style with expert real estate craftsmanship. This venture marks Lamborghini’s first introduction to Ras Al Khaimah and represents a commitment to setting new standards in luxury and modern living.

 

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