Ajman realty boom sends prices up

Dubai: The realty boom is pushing up land and property prices in Ajman, according to market officials.

More than Dh15 billion worth of projects are currently in various stages of development in Ajman, the smallest of the seven emirates of the UAE.

Inter Emirates properties, one of the leading realty players, said the freehold realty boom in Ajman continues with a sharp rise in investor preference for the emirate's properties against the backdrop of both residential and commercial projects offering high returns in the range of 20-40 per cent per annum.

Aida G Tomolso, general manager of Inter Emirates Properties said: "From a low-cost living destination for expatriates, Ajman has now emerged as a property investment destination in the UAE offering lucrative returns.

"The heightened investor interest in Ajman properties has also led to rising rates."