Value of construction contracts in Ajman crosses Dhs2.1bn in H1 2022

Ajman’s Department of Municipality and Planning in Ajman has reported that the value of construction contracts in the emirate exceeded Dhs2.1bn in the first half of 2022, higher than during the same period in the two previous years.

According to the state news agency, WAM, in 2020, construction contracts were valued at Dhs800m, and Dhs1.9bn in 2021.

Abdul Rahman Mohammed Al Nuaimi, director-general of the department, said that construction contracts in the emirate rose in value by 11 per cent compared to the two previous years, underscoring the confidence of residents and project owners.

Engineer Khalifa Abdullah Al Falasi, director of the Buildings Administration at the Department, said construction licences registered an increase in the first half of 2022, amounting to 2,376 compared to 2,187 in 2021 and 1,659 in 2020.

In other developments reflecting Ajman’s economic growth and role as a key hub in the UAE, the Ajman Chamber of Commerce and Industry (ACCI) said that it had issued 19,008 certificates of origin worth more than Dhs4.3bn in H1, 2022, compared to 16,768 certificates with a value of Dhs4.1bn issued during the same period last year, reflecting a growth rate of 13 per cent.

According to ACCI, Ajman possesses many supporting potentials that contribute directly to the growth of export and re-export, including advanced infrastructure and road network, the flexibility of licences, and availability of logistics services, in addition to the ease and speed of handling at the port of Ajman.

Read: Ajman Chamber issues 19,008 certificates of origin worth over Dhs4.3bn

The Department of Economic Development in Ajman also issued 1,275 new business licences during the first Q1 of this year, an increase of 10 per cent year-on-year.

Ajman’s economic growth has been highlighted by the release of recent data which showed that Ajman’s tech sector within the Ajman Free Zone grew by 21 per cent last year. The number of tech companies in the integrated business hub reached more than 550 in 2021.

Read: Ajman issues 1,275 new business licences during Q1 2022