
Ajman properties have grown considerably since its launch in 2004 to include residential towers, commercial space and even villas. With approximately 200 residential towers either completed or currently under construction, the Emirate of Ajman has ambitious plans for its small but growing real estate sector.
Ajman is the smallest of the seven Emirates in the UAE, covering a total area of 260 kilometres, yet with such excellent coastline, and easy access to the neighbouring Emirates of Sharjah and Dubai, it has been able to grow at an astonishing pace in the last couple of years. The price of real estate in Dubai, the most popular of the Emirates, have pushed many potential property investors out of the market, with numerous projects of interest increasing in price several-fold from their initial launches. Now more and more expatriates and even GCC Nationals are considering the option of buying Ajman property, and other Emirates venturing into freehold such as Ras Al Khaimah and Sharjah.
At present, the costs of buying a freehold property are much cheaper in Ajman over Dubai, with price per square foot in Ajman as low as Dhs40 initially to around Dhs150 right now. This is excellent value for money in comparison to Dubai, where cost per square foot has risen steeply above Dhs800 and in the case of office space even Dhs 1500.
While there are still some affordable developments within Dubai, the sheer amount of demand for budget property is not being met by the freehold real estate sector, which is instead producing more high-end, luxury property. As a result, buying an Ajman property is more affordable, and offers property investors a lot more for their money. Apartments in Ajman also offer a great deal more space, due largely to the fact that the Emirate is less built up than surrounding areas.
With the Emirate of Ajman covering a large amount of coastline, owning a property here is an opportunity to own a residence that is close to the beach, spacious, and all for a fraction of the price of properties in Dubai. The variety of projects currently underway in Ajman include Ajman Pearl, Ajman One, Falcon Tower, Emirates City, Corniche Tower, Up Town Ajman Villas, Rainbow Tower and Venice Tower.