Ajman's Property Sector Shows Robust Figures Despite Finance Crisis

Investments into Ajman's property sector have crossed the Dh400 billion mark, according to reports. Despite deflated markets around the world and also here in Dubai, such robust figures mark a good year ahead for Ajman and its investors. Property prices also saw an overall appreciation of 40 per cent in 2008. Fahad Sattar Dero, chief executive of Sweet Homes, also developing in Ajman, said his company is still selling units at old rates but the financial crisis has resulted in an undervaluation of properties. We could not deny that we are affected. However, we are confident that the effect on us has been comparably less than on others. We still consider Ajman as a place of opportunity for real estate investments. Dero said, As the effects of the fin-ancial crisis manifest in the UAE, companies and residents are forced to cut down on expenditure, thereby driving the demand for inexpensive housing.