Ajman property development is set for a major expansion through a new $2.3 billion masterplan. GJ Properties plans to develop 27 towers across around 15 million square feet. The project will include almost 10,000 apartments across several construction phases. The developer expects work to begin on the first seven towers in 2027.
The company plans to formally announce the development at the International Property Show in Dubai next year. Construction will then progress through several stages over the following years. GJ Properties expects the complete development to take about seven years. The project will therefore become a major part of the company’s future development pipeline.
The first phase will include seven towers within the wider masterplan. Construction teams should begin work during 2027, according to the developer. Subsequent phases will follow as construction progresses across the site. The company expects the entire project to reach completion within seven years.
Dubai-based Khatib and Alami designed the large-scale development. The design covers residential buildings and supporting infrastructure across the masterplan. Meanwhile, GJ Properties continues construction across several existing Ajman projects. The developer currently has almost 4,500 units under construction.
Those units span nine projects across Ajman and another development in Dubai. The company is also developing Biltmore Residences on Dubai’s Sheikh Zayed Road. Excluding the new masterplan, its pipeline covers more than seven million square feet. Therefore, the company already maintains a substantial development presence.
Ajman has attracted attention because of its relatively lower residential costs. The emirate sits between Sharjah and Umm Al Quwain in the northern UAE. It has a population approaching 600,000 residents. The emirate also covers about 259 square kilometers.
Local property activity has remained strong during the first half of 2026. Ajman recorded 6,815 real estate transactions during that period. Those transactions generated more than AED10.8 billion in total value. The figures indicate continued activity across the emirate’s property market.
The new Ajman property masterplan will represent an important stage for GJ Properties. Company chief executive Ali Jaber described it as the developer’s final major Ajman project. After 2030, the company expects to expand into Dubai or Abu Dhabi. This strategy would broaden its presence across the UAE property market.
GJ Properties also has plans involving a potential public listing. The company has appointed Deloitte to advise on its initial application process. The potential listing could take place on the Abu Dhabi Securities Exchange. However, the company has not finalized the size or structure of any offering.
Property sales at GJ Properties have also increased significantly this year. The company reported sales growth of almost 40 percent year on year. Management linked the increase partly to Ajman’s affordability. Demand has also changed as residents reassess housing costs across the UAE.
Ajman property prices remain lower than those in Dubai, according to market data. Average prices in Ajman range between AED300 and AED400 per square foot. Dubai averages between AED1,200 and AED1,500 per square foot. This price difference continues to support demand among buyers seeking lower housing costs.
GJ Properties expects these market conditions to support its expansion plans. At the same time, the developer will continue monitoring demand across the UAE. The new masterplan adds thousands of homes to Ajman’s future supply. It also signals the company’s intention to expand beyond its current market.
