Property in Ajman UAE
Property investors are comparing Ajman UAE housing market to that of Dubai a few years ago. Prices are still low and the region is attracting international property investors.
The Ajman rental market has seen a phenomenal growth rate in the last eighteen months with some rents going Up by 70%.
Ajman is currently the only emirate in the UAE offering investors of any nationality true and fully transparent 100% freehold ownership on real estate.
ABOUT AJMAN
Ajman is one of the seven emirates comprising the United Arab Emirates (UAE). With an area of just 260 square kilometres, Ajman is the smallest emirate by area. Its seat of government is Ajmān, which is surrounded to its north, south, and east by Sharjah.
Located along the Persian Gulf, Ajman also controls Masfut and Manama, two small, inland enclaves that are primarily agricultural. Approximately 95% of the population of the emirate resides in the city of Ajman. The population was only 36,100 in 1980 but grew considerably in recent years, due to an influx of people from the neighbouring emirates of Dubai, Sharjah, and other countries. Ajman is ruled by Humaid bin Rashid Al Nuaimi of the Al Nuaimi tribe. The Crown Prince of the Emirate is Sheikh Ammar bin Humaid Al Nuaimi. Ajman has experienced massive development and a construction boom in recent years .
History
On 8 January 1820, Sheikh Rashid ibn Humayd Al Nuaimi signed the General Maritime Treaty with Britain, accepting a protectorate to keep the Ottoman Turks out. Like four of Ajmān's neighbors, Sharjah, Dubai, Ras al-Khaimah and Umm al-Qaiwain, its position on the route to India made it important enough to be recognized as a salute state
On 2 December 1971, Sheikh Rashid ibn Humayd Al Nuaimi joined the United Arab Emirates.
Population
The city has a population of 225,000 (2003 census estimate). The urban area runs directly into the city of Sharjah along the coast to the south west, which in turn is adjacent to Dubai, forming a continuous urban area.
Commercial
Ajman is home to the Ruler's office, companies, commercial markets, and about 50 international and local retail shops. Banking interests include: Ajman Bank, Arab Bank PLC, Bank Saderat Iran, and Commercial Bank of Dubai.
Shipping
The port of Ajman is located along a natural creek which penetrates the town. Ajman is also home to Arab Heavy Industries, one of the world's largest ship manufacturing firms.
Ajman development boom
After the success of freehold property in Dubai, Ajman was the second emirate to offer freehold property. Ajman is currently the only emirate in the UAE offering investors of any nationality fully transparent true 100% freehold ownership on real estate, which in turn has attracted a huge number of investors (local and international) to this emirate. This in turn has prompted the Ajman government to initiate a number of development projects.
.jpg)
New Ajman is the name given to the area being developed outside of the current Ajman city, located by the Emirates Road. New Ajman will consist of many new developments & projects envisioned by Chief of Municipality Sheikh Rashid Al Nuaimi. One of the first developments of New Ajman is called "The Emirates City", a brand new city located directly on the Emirates Road to be built from scratch consisting of more than 100 mid- and high-rise buildings. A number of shopping malls, hotels and residential villas are also planned to eventually extend all the way to the 'Al Zoura' area, where beachside developments are planned .
Ajman International Airport hosting about two million passengers per year has also been announced, and construction will start in the second half of 2008 in the Al Manama area of the Ajman, and airport operations are set to start by 2011.
