Ajman, April 24, 2017- The Department of Land and Real Estate Regulatory of Ajman is participating at this year's edition of the Riyadh Real Estate & Urban Development Exhibition 2017 (Restatex Riyadh 2017), the largest annual Real Estate event of its kind in the Kingdom of Saudi Arabia (KSA), at the Riyadh International Convention & Exhibition Center. The event is being attended by leading decision makers, officials and executives from top Saudi, regional and international real estate developers. During their presence at the event, the Department of Land and Real Estate Regulatory of Ajman will be showcasing potential investment and growth opportunities in the emirate's real estate segment--complementing its commitment to improve the emirate's investment environment and encourage the entry of more foreign direct investments (FDI) while also keeping in line with the economic diversification process and comprehensive development advocated by Ajman Government and the entire UAE.
The Department of Land and Real Estate Regulatory of Ajman will be highlighting the potential investment and growth opportunities of its local real estate sector while also presenting its latest achievements in its move towards adopting green building standards and the promotion of a culture of innovation and creativity across free zone ownership.
The Department of Land and Real Estate Regulatory of Ajman has expressed its continuous commitment to attract real estate investors and venture capitalists from all over the GCC region, particularly Saudi Arabia, urging them to invest in real estate development projects.
As of the first quarter of 2017, the department has already recorded around 17 projects and 103 towers in Ajman. At present, there is a notable surge in demand for real estate property in Ajman from investors coming from more than 66 countries across the world-- resulting in around AED 734 million worth of real estate dispositions during the same reported period.
His Excellency (H.E.) Yafea Al Faraj, Director General, Department of Land and Real Estate Regulatory of Ajman, noted that the department's participation at Restatex Riyadh 2017 falls in line with the country's unified efforts to attract GCC investments, which is considered to be one of the key drivers of economic, social and cultural growth in the UAE.
“Real estate development is one of the most appealing and rapidly growing industries in the region. Of the many investors looking into the industry, investments coming from Saudi Arabia claim a large share of the local real estate market. In fact, our records show that 1,109 registered land and properties in the emirate are owned by Saudi nationals--representing a key value of AED 800 million. Restatex Riyadh 2017 serves as a strategic platform for us to come face-to-face with potential investors to keep them informed of the latest emerging trends and accelerating developments in the local industry considering the continuous efforts to transform to an economy based on sustainability, diversification, and innovation. We are all confident that a large turnout of real estate investors and developers in the exhibition will pay a visit to our pavilion, which is showcasing the latest and most significant developments and trends in both Ajman and the UAE's real estate market,” concluded the Director General.