Ajman real estate market - well protected
November 10, 2008 by OPPE News
photo credit: sans otoole
Ajman is “well protected” from the upheaval threatening other sections of the UAE real estate market, organisers of a top property event have said.
DSL Exhibitors, which hosted the R&R Local Property Show in the emirate, said it would benefit from having a market calmer than the likes of nearby Dubai.
The show was held last Thursday to Saturday at the Sheikh Zayed Center for Conferences and Exhibitions, Ajman University of Science and Technology.
Over 40 agents and developers attended to show off thousands of new homes for sale in Ajman, Dubai and other UAE regions.
DSL Exhibitors said:
“Being well entrenched in the mid-market segment, Ajman is likely to continue to do well – particularly since real estate prices here have not swelled as they have due to speculator activity in Dubai. In that sense, the Emirate is well protected.
“While industry insiders believe that there will be an impact of the global financial crisis even on this market, it is expected not to be as severe as elsewhere.”
Organisers also reported a positive response from companies appearing at the show, saying most were confident of Ajman’s ability to attract buyers of mid-priced investment property.
Dr Salem Al Shafiei, director of the Dubai Real Estate Institute (DREI), said at the event:
“The UAE real estate sector is on the right track, evolving and maturing into a more dynamic industry.”
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