Next year the Ajman government will follow in the footsteps of the Dubai’s Real Estate Regulatory Authority when they introduce their own regulations for real estate developments in the emirate.

Back in September we covered the new Ajman property law and how it will take effect. However, it took longer than initially anticipated to sort out the finer points on the law. Further to this, the Ajman government wants to see Dubai’s law instigated first to keep things in order and not confuse buyers in the emirate nations.

The law will be welcomed by investors as some have been caught out buying from the wrong source. Chief executive of Aqaar Properties and the director of Al Zorah, Rami Dabbas said “The problem here is that people sometimes don’t investigate what they’re buying. So many people just buy off-plan without knowing the details or asking questions, such as whether the company is registered.

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Executive Towers is a masterfully planned mixed use development offering both businesses and residents elegant ultra modern urban facilities within the most inspiring surroundings of Al Helio Downtown in Ajman. Executive towers is designed by renowned architects Atkins, and will include a wealth of Residential, Business and Recreational facilities.

Executive Towers in Al Helio Downtown is tipped to become the UAE’s next property hot spot. Huge capital growth forecast and the opportunity to flip the investment before completion of the development make this type of investment a sure fire winner.

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This is the third and final part of our three part Ajman property market overview. In part one we looked at the high potential Ajman’s property market has right now. Then in part two we covered the recently updated Ajman property law, allowing overseas investors to buy freehold.

Infrastructure and Developments to Watch in Ajman

With rising interest from overseas investors, Ajman’s officials are investing a lot of effort and money into updating the current outdated infrastructure.

Last year some Dh 500 million (£70m) has been invested to update the road network, intersections, bridges and renovation costs. This year, the anticipated total of all the monies already spent for infrastructure totals some Dh 1.38 billion (£220m).

This doesn’t include the Ajman Marina which is estimated to cost $2 billion and expected to be completed in 2015. It will be home to some 21,000 residents offering freehold property ownership.

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Ajman Property Law

In part 1 of our Ajman mini series we provided a general Overview of the Ajman Property Market. We established the fact that Ajman is definitely one of the regions in the UAE to keep your eyes peeled on.

Today we will look at Ajman’s new property law to give you more insights into your investment opportunities. Since the property law has been modified to legalize freehold ownership in Ajman, the rules seem much clearer.

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Back in May we posted an article about the Ajman property market and how things are heating up in this smallest of the seven UAE emirates. As it turns out, our hunch was correct. Ajman has since heated up considerably and with neighboring Dubai becoming more and more expensive and unaffordable for many, Ajman has been the emirate of choice for many investors and developers as of late.

Therefore we will cover the Ajman property market over a three part post series to give you information on investor strategies, property prices, infrastructure, the newly reformed Ajman property law and where all the action happens right now.

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Ajman is one of the seven emirates that make up the UAE (United Arab Emirates). It’s total area only comprises of 260 square kilometres but the ruler of the emirate, Sheikh Humaid bin Rashid Al Nuaimi has big plans for this small emirate.

Sheikh Ammar who is the crown prince of Ajman and the son of the ruler said in an interview with The National

“We want Ajman to become the getaway from the hectic working cities of Abu Dhabi and Dubai where someone would spend three days working – and three days relaxing in Ajman”.

The Al Zorah Project

Earlier this month the emirate announced plans to build a brand new city along it’s coast by the name of Al Zorah to a total estimated cost of Dh220 billion (US$59.9 bn) investment

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Lacking the huge natural resources of Abu Dhabi or the world class infrastructure of Dubai, the smaller members of the United Arab Emirates do have developmental advantages of their own in terms of geographic location and tourist potential.

Ras al Khaimah (population 205,000), the northernmost of the emirates, close by the Omani enclave, reported investment of Dh 100bn in 2006 (approximately $25bn) with the tourism and real estate sectors being particularly active. However, the emirate’s economic plans place industrial development in the key position.

Fujairah (pop. 127,000) has the advantage of being the only UAE port outside the Persian Gulf. Strategic facilities are being constructed to take advantage of this, anticipating any military or naval action that could close the Straits of Hormuz at the mouth of the gulf. These include an oil pipeline from Abu Dhabi and a liquefied natural gas (LNG) storage hub.The latter is a project being undertaken by Dubai Multi Commodities Centre in conjunction with LNG Impel, part of Galveston LNG of Canada. The go-ahead for this important project, representing a capital outlay of Dh 8bn, is contingent on arrangements for Qatar to use the facility. The Fujairah authorities have plans to reclaim two square km from the Arabian Sea for the project.

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