Wingsch Real Estate Investments   

Theme Week United Arab Emirates – Emirate of Ajman

Tuesday, 20 February 2018 - 12:00 pm (CET/MEZ) Berlin | Author/Destination: Gulf States / Golfstaaten
Category/Kategorie: General Reading Time:  7 minutes

🔊 Listen to this Post The Emirate of Ajman has an area of a mere 260 square kilometres (100 sq mi), which makes it the smallest of the emirates in terms of area. It is named after the city of Ajman, which is its seat of government. It is bordered on the north, east, and south by the Emirate of Sharjah. It has a population of some 240,000. Located on the coast of the Arabian Gulf, Ajman also controls two small inland exclaves: Manama and Masfut, both of which are primarily agricultural. Approximately 95% of the population of the emirate resides in the city of Ajman, which forms part of the Dubai-Sharjah-Ajman metropolitan area. Ajman is ruled by Sheikh Humaid bin Rashid Al Nuaimi of the Al Nuaimi tribe. The Crown Prince of the Emirate is Sheikh Ammar bin Humaid Al Nuaimi.

Ajman is the smallest of the United Arab Emirates, covering only 260 square kilometres (100 sq mi). The city lies on the coast of the Persian Gulf and is home to some 95% of the emirate’s population. In 2010, the population was 262,000, of which 16% was Emirati according to official statistics. As well as the city of Ajman, the emirate also encompasses two landlocked exclaves, Manama and Masfut. Manama is in the plains at the foothills of the Al Hajar Mountains some 60 km east of Ajman city, while Masfut is in the mountains proper, some 110 km south of Ajman City. The city and main territory of Ajman is bordered to the landward side by Sharjah, while Manama shares borders with Sharjah and Fujairah. Masfut borders Oman, Dubai (the village and exclave of Hatta) and Ras al-Khaimah. Both Manama and Masfout are fertile regions and support widespread agricultural development. Most of the main emirate’s landmass is developed, with extensive suburbs stretching out almost to the E311 arterial road, with light industrial zones and warehousing towards the north east. Ajman’s creek has been dredged and walled to form a port area and this is the location for the Ajman Port and Ajman Free Zone. Ajman has a thriving textile industry, and is home to some 15% of the UAE’s manufacturing firms. The small areas of sandy desert outside the city support scant seasonal growths of wild grasses and scrub, ghaf trees and occasional date palms. Acacia and ghaf trees are to be found in abundance in Manama, which has long been established as an agricultural centre. Date palm groves and fruit tree plantations are characteristic of Masfut.

With capacity to accommodate 1500 companies and serving over 1,000 vessels a year, Ajman Port and Ajman Free Zone are major contributors to the emirate’s economy. Exporting to over 65 countries, the Free Zone’s companies comprise something like 20% of the UAE’s overall industrial units, with some 256 industrial companies operating from the zone. Ajman was the first emirate in the UAE to offer 100% freehold to global investors, in 2004. This led to real estate prices rising rapidly, from $11 per square foot and, by 2007, developers had announced projects with a worth of $21.78 billion, some 65,000 units in all. In an emirate with a population of 240,000 the figure was high by any standard and the pace of development was not sustainable, with the global financial crisis intervening to bring development to a sharp halt. With considerable pain from investors in stalled projects, the Ajman Real Estate Regulatory Agency came under considerable pressure. Work has restarted on a number of projects, including the mixed business, leisure and residential development Ajman One.

A development boom followed the opening of Ajman’s real estate market to global investors in 2004, with ‘true’ freehold on offer. By 2008 the growth of real estate speculation and investment had led to the establishment of a real estate regulator, the Ajman Real Estate Regulatory Agency. Arguably ineffective in the face of the fast-moving and evolutionary gold rush taking place, ARERA had not implemented widespread policies or regulations to curb the overheating market by the time the global financial crisis intervened and brought many developments to a crashing halt. As of 2014, a number of key stalled projects had restarted, marking a more cautious and measured return to the development of the emirate’s real estate market, which has recently benefited from offering competitive rentals to nearby Sharjah and Dubai. The construction of Ajman International Airport began in the second half of 2008 in the Al Manama area of Ajman. Airport operations were scheduled to begin by 2011, and the airport was expected to host about two million passengers per year. The project stalled but has now been restarted and is projected to be completed by 2018 and will entail an investment of some $575,000. A $25 million marina project is also underway, which will include running tracks and facilities to attract international sporting events and provide a draw for tourism to the emirate. Located on the Ajman Corniche, the square Al Murabaa Watchtower was built in the 1930s. Ajman’s busy corniche is a popular evening and weekend destination for families and features a number of fast food outlets, coffee shops and stalls. It is home to the ‘Outside Inn’, a popular watering hole with expatriates, as well as to a number of hotels, including the Ramada, Bahi Ajman Palace, and the luxurious Ajman Saray.

Here you can find the complete Overview of all Theme Weeks.

Read more on Wikivoyage Emirate of Ajman and Wikipedia Emirate of Ajman. Learn more about the use of photos. To inform you about latest news most of the city, town or tourism websites offer a newsletter service and/or operate Facebook pages/Twitter accounts. In addition more and more destinations, tourist organizations and cultural institutions offer Apps for your Smart Phone or Tablet, to provide you with a mobile tourist guide (Smart Traveler App by U.S. Department of State - Weather report by weather.com - Global Passport Power Rank - Travel Risk Map - Democracy Index - GDP according to IMF, UN, and World Bank - Global Competitiveness Report - Corruption Perceptions Index - Press Freedom Index - World Justice Project - Rule of Law Index - UN Human Development Index - Global Peace Index - Travel & Tourism Competitiveness Index). If you have a suggestion, critique, review or comment to this blog entry, we are looking forward to receive your e-mail at comment@wingsch.net. Please name the headline of the blog post to which your e-mail refers to in the subject line.

---

Recommended posts:

• Theme Week United Arab Emirates – Emirate of Sharjah
• Theme Week United Arab Emirates – Emirate of Fujairah
• Theme Week United Arab Emirates – Emirate of Abu Dhabi
• Theme Week United Arab Emirates
• Theme Week United Arab Emirates – Emirate of Umm al-Quwain
• Ras al-Khaimah on the Persian Gulf
• Theme Week Dubai on the southeast coast of the Arabian Gulf
• Manama on the Persian Gulf
• Khor Fakkan on the Gulf of Oman
• Al Reem Island in Abu Dhabi
• Theme Week Abu Dhabi – Al Ain
• Theme Week Bahrain – Sitra Island
• Theme Week Israel – The port city of Ashdod
• Jumeirah in Dubai
• The Cayan Tower in the Dubai Marina