Monday, 9 June 2008

Why Portmill Estates chose Ajman as its next project.

Many Westerners are reluctant to invest in the Middle East due to a perceived economic or political uncertainty. This is why when Portmill Estates was considering a new real estate area to promote to its client base, it wanted to find an area with stability and more importantly one that encouraged foreign investment.

Ajman has outshone other Emirates in attracting foreign investments into the country, with foreigners now owning 33 per cent of development projects. This is in comparison with 11 per cent in the other Emirates.
Portmill Estates also recognised early on the existing and potential growth in investment into this small Emirate, with economic analysts estimating Ajman’s annual investment growth rate at an average of 6.7 per cent.

The rapid growth of the economy as well as investment into Ajman is a direct result of many incentives provided by the government to attract foreign investors.Ajman is only second to Dubai in offering freehold status to investors buying real estate in the United Arab Emirates. This was important for Portmill Estates as it protects clients from the "land grabs" that some investors have suffered at the hands of indecisive local governments.
This legislation is continually being updated in new ways to benefit investors and Portmill Estates sees this policy accelerating growth and investment in the region.

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