Sweet Homes eying a larger share of 120 billion Ajman real estate sector

Sweet Homes, a leading UAE-based developer and multi-service provider to the real estate sector, has announced that it will be launching a host of projects within the AED 120 billion Ajman real estate market, as part of its AED 2 billion investment plan for 2008. According to the most recent statistics released by the Ajman Chamber of Commerce & Industry, the growing popularity of Ajman-based developments among global investors has resulted in the boom in the emirate’s Foreign Direct Investment (FDI), which has exceeded the rest of the other emirates’ by 300 per cent. Through the launch of its new projects, the developer is aiming to attract greater investment into Ajman, which will further boost the real estate sector within the emirate.

Ajman has eclipsed the other emirates in terms of attracting foreign investments into the country, with foreigners now owning 33 per cent of development projects established in the booming city compared to 11 per cent in the other emirates, thereby elevating Ajman's annual investment growth rate to an average of 6.7 per cent. In addition, expatriates and GCC nationals are also being drawn to the relatively lower prices of properties in the emirate compared to the skyrocketing costs of investments in Dubai and Abu Dhabi. As more private developers are being encouraged to launch residential properties aimed at low- to middle-income end-users, especially in the Emirates City along the Emirates Road, Sweet Homes has identified Ajman as an ideal location for a large percentage of its future projects.

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