Plans for GJ Properties AED 8.5 Billion Ajman Masterplan With Nearly 10,000 Apartments
Ajman-based developer GJ Properties is planning a new AED 8.5 billion ($2.3 billion) masterplan that could add nearly 10,000 apartments across 27 towers, as the company prepares for its next phase of growth in the UAE.
The proposed development is expected to cover approximately 15 million square feet and will be delivered in several phases. According to GJ Properties CEO Ali Jaber, construction of the first seven towers is expected to begin in 2027, with the overall development targeted for completion within seven years.
The project is expected to be formally announced at the International Property Show in Dubai in 2027.
Anticipated Start of the First Phase in 2027
The initial phase of the masterplan is planned to include seven towers. The remaining towers would be delivered in subsequent stages as construction progresses.
Jaber said the development would be completed in phases, with the full programme expected to take around seven years. Details such as the project's final unit mix, sales prices, payment plans and other commercial terms have not yet been publicly disclosed.
The masterplan has been designed with Khatib & Alami involved in the project, according to information released earlier this year regarding GJ Properties' major Ajman development activity. Khatib & Alami has separately confirmed its appointment for the Sawari Ajman development, which comprises 17 residential towers across two phases.
GJ Properties Expands Its Ajman Development Pipeline
GJ Properties is already active across Ajman's residential property market, with a number of developments under construction.
The company's existing portfolio includes projects in Ajman as well as its Biltmore-branded development in Dubai. The developer has also been expanding its pipeline as demand for residential property in Ajman continues to attract buyers looking for alternatives to the higher property costs seen in Dubai.
GJ Properties' current projects include several residential developments across Ajman, according to the company's own project portfolio.
The proposed masterplan would represent another significant addition to the developer's Ajman pipeline.
Ajman Property Market Records AED 10.8 Billion in H1 2026
The announcement comes as Ajman's real estate market records substantial transaction activity.
The Ajman Land and Real Estate Regulation Department recorded 6,815 real estate transactions worth more than AED 10.8 billion during the first half of 2026, according to figures published through the Ajman Real Estate Index.
The figures included 5,435 trading transactions worth AED 7.64 billion and 969 mortgage transactions exceeding AED 1.88 billion. The highest-value sale during the period was AED 215 million in Al Amerah.
The official data also showed that Emirates City was the most actively traded major project during the period, followed by City Towers and Ajman One. Al Helio 2 was the leading neighbourhood by trading activity, followed by Al Helio 1 and Al Zahia.
Affordability Remains a Key Factor
According to comments from Jaber, affordability is one of the factors supporting demand for property in Ajman.
Data cited by AGBI from Colliers put average property prices at around AED 300 to AED 400 per square foot in Ajman, compared with approximately AED 1,200 to AED 1,500 per square foot in Dubai. These are market averages and actual prices can vary depending on location, property type, building quality and other factors.
GJ Properties has linked the company's recent sales growth partly to this price difference between Ajman and the UAE's larger property markets.
The developer has also said its property sales increased by almost 40% year on year, although this figure represents the company's own reported performance rather than an independent measure of the overall Ajman market.
Potential Expansion Into Dubai and Abu Dhabi
The new Ajman masterplan is expected to play an important role in GJ Properties' near-term development strategy.
Jaber indicated that the project could be the company's final major development in Ajman before it looks to expand its presence in other UAE markets.
The company has indicated that Dubai and Abu Dhabi could become its next major expansion markets after 2030.
GJ Properties' expansion plans therefore extend beyond Ajman, although the timing and scale of any future projects in Dubai or Abu Dhabi have not been formally announced.
GJ Properties Considers Potential ADX Listing
Alongside its development plans, GJ Properties is also preparing for a possible listing on the Abu Dhabi Securities Exchange (ADX).
The company has appointed Deloitte to advise on the initial application process. However, the potential IPO remains at an early stage, and details such as the timing, size of the offering, percentage of shares and assets that could be included have not been announced.
Jaber has indicated that an IPO is being considered, but the final structure has yet to be determined. Therefore, the potential listing should not be described as a confirmed upcoming IPO.
What the Ajman Masterplan Could Add to the Market
If delivered as currently planned, the proposed development would bring nearly 10,000 additional apartments across 27 towers and approximately 15 million square feet of development to Ajman.
The project is still part of GJ Properties' future development pipeline, with the first phase expected to start construction in 2027. More information on the location, apartment configurations, launch prices and sales arrangements is expected as the formal announcement approaches.
For now, the development represents another planned investment in Ajman's expanding residential market, while the emirate continues to record significant property transaction activity.
Source context: Project details and company plans are based on statements attributed to GJ Properties CEO Ali Jaber and available company/project information. Ajman market transaction figures are based on the Ajman Land and Real Estate Regulation Department's official H1 2026 data.
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