Starting July 1, 2024, Ajman’s Department of Land and Real Estate Regulation will launch an extensive building classification initiative across the emirate.
Comprehensive Building Classification Initiative in Ajman
This three-month process is designed to evaluate the readiness and compliance of buildings and real estate facilities in Ajman, ensuring they meet international standards and regulations. A specialized team of qualified professionals will conduct thorough on-site inspections and assessments, and their findings will be transparently published through an integrated electronic program developed by the department.
The classification effort involves a meticulous process carried out by a specialized team. These professionals are equipped with the expertise required to conduct comprehensive on-site inspections and assessments of various buildings and real estate facilities. Their evaluations will focus on ensuring that these properties adhere to stringent international standards and regulations, providing an accurate and reliable classification of each property.
Transparency and an Integrated Electronic Programme
To enhance transparency, the findings from these inspections and assessments will be published through an integrated electronic program. This initiative, spearheaded by the Department of Land and Real Estate Regulation, aims to provide all stakeholders with easy access to detailed information regarding the compliance and readiness of buildings in Ajman. This transparency is expected to foster greater trust and confidence among investors, landlords, and tenants.
Omar Al Muhairi, Director General of the Department, confirmed that the criteria for the classification are aligned with international standards and specifications. The goal is to ensure the quality of services provided by these buildings and to facilitate informed investment decisions. By having a standardized classification system, investors can make more informed choices when buying or renting properties in Ajman, knowing that the buildings meet high-quality standards.
Al Muhairi emphasized the importance of this new system in providing clarity and confidence to all parties involved in Ajman’s real estate market. With official ratings of each building’s condition and adherence to codes, investors, landlords, and tenants can make more informed decisions. This initiative aims to enhance the overall transparency and reliability of the real estate sector in Ajman.
Attracting investment and development
The building classification initiative is part of Ajman’s broader efforts to enhance transparency, regulation, and quality assurance in its real estate sector. By doing so, the emirate aims to attract further investment and development. Real estate remains a key driver of Ajman’s economy, with the market experiencing significant increases in commercial property investments this year.
In May 2024 alone, the Department of Land and Real Estate Regulation in Ajman completed 169 real estate valuation processes, totaling over AED729.5 million ($199 million). According to Ahmed Khalfan Al Shamsi, Director of Real Estate Registration, this valuation covered commercial, residential, industrial, and agricultural units. Commercial properties accounted for the largest share, with a total value of AED437.2 million ($119 million), marking a 197 percent increase compared to April 2024. This significant rise highlights the growing confidence and investment in Ajman’s commercial real estate sector.
The classification initiative is a strategic move to bolster Ajman’s real estate sector, ensuring that it remains competitive, transparent, and attractive to investors. By adhering to international standards and providing detailed, transparent information on property conditions, Ajman aims to create a more reliable and investor-friendly real estate environment. This initiative is expected to play a crucial role in driving further economic growth and development in the emirate.
