Released on: July 14, 2008, 11:51 pm

Press Release Author: Paul Greaves

Industry: Management

Press Release Summary: The price of property in Ajman is expected to rocket
following the introduction of new property laws in the emirate state. The new
legislation, aimed at strengthening confidence in the real estate market, will allow
foreign nationals to purchase freehold land, as is the case with Dubai property.


Press Release Body: Burnley, UK, July 14, 2008 -- The price of property in Ajman is
expected to rocket following the introduction of new property laws in the emirate
state.

In June 2008, His Highness Shaikh Humaid Bin Rashid Al Nuaimi, Member of the Supreme
Council and Ruler of Ajman, issued Amiri Decree No 7 and 8, 2008, to regulate the
emirate\'s land and properties sector.

The new legislation, aimed at strengthening confidence in the real estate market,
will allow foreign nationals to purchase freehold land, as is the case with Dubai
property. Another new law will ensure property developers open an escrow account
with a bank before being allowed to launch a new project, protecting the investment
and ensuring projects are completed. Property developers will also be responsible
for maintaining the project for 10 years following handover.

Billions of dollars are currently being pumped into the Ajman property market;
prices have jumped from Dh350 per square foot to nearly Dh500 during the last six
months, as investors look to capitalise on Ajman\'s growing housing sector.

Real estate industry professionals say a property boom is under way in the Northern
Emirates, with prices of Ajman property likely to rise by between 60%-100% in the
next six months.

Zuber Mohsan, CEO for Dubai-based sandcastles-property.com, said: \"Property prices
in Ajman are on a par with Dubai prices five years ago, with Dubai property
currently costing up to six times that of similar property in Ajman.\"

\"We expect property prices in Ajman to double within the next 6-12 months, and
could, over the next few years rise by as much as 250%. If you are looking for a
strong UAE property investment, then property in Ajman should be right at the top of
your list, added Mohsan.\"

Ajman is the smallest of the seven emirates and is located north of Dubai, less than
30 minutes drive from Dubai\'s international airport.

About Sandcastles UAE Property

Sandcastles-property.com is the leading property website in the United Arab
Emirates; featuring properties for sale and for rent in Dubai, Abu Dhabi, Ajman and
many other emirates in the UAE.
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Contact:


Web Site: http://www.sandcastles-property.com

Contact Details: Paul Greaves
Property Manager
Sandcastles Dubai Property
Burnley, Lancashire, UK
01282 775678
info@sandcastles-property.com
http://www.sandcastles-property.com