Real estate transactions in the UAE’s Emirate of Ajman surged 61.5% in August compared to the same period last year, reaching a total value of AED 1.5 bn ($408 mn), according to the Department of Land and Real Estate Regulation.

The Al Helio 2 area witnessed the highest sales value at AED 40 mn, followed by the Al Yasmeen neighborhood, which came at the top of the list of the most traded neighborhoods.

Omar Al Muhairi, Director General of the Department of Land and Real Estate Regulation in Ajman, attributed the strong performance of the real estate market to the increasing demand for real estate of various categories and the suitability of prices to the needs of investors.

He also noted that the department recorded 199 mortgage transactions with a total value of AED 741 mn, with the highest mortgage value of AED 98.5 mn recorded in the Al Amra area.