30 September 2026
GJ Properties, a family-owned developer based in Ajman, plans an AED 8.5 billion masterplan in the emirate with 27 towers and almost 10,000 apartments across about 15 million square feet, chief executive Ali Jaber told AGBI in an interview published on 30 September 2026. The project is due to be formally announced at the International Property Show in Dubai in 2027. Construction of the first phase, seven towers, is due to begin in 2027, and Jaber expects the whole project to be completed within seven years. The company is also preparing for a possible listing on the Abu Dhabi Securities Exchange (ADX) and has appointed Deloitte to advise on the initial application process.
What GJ Properties plans in Ajman
The masterplan is valued at AED 8.5 billion, about USD 2.3 billion, and will be built in phases. The first phase covers seven of the 27 towers. Jaber put the whole programme at seven years and said that at the end of it “there will not be a single construction helmet on site”. The project was designed by Al Hatmy Design and Engineering Consultancy, a Dubai-based firm.
Jaber said the masterplan will be the last major development of GJ Properties in Ajman, and that after 2030 he sees the company expanding to Dubai or Abu Dhabi. “We’re busy here in Ajman,” he said. “But I would see ourselves after 2030 definitely being in Dubai or Abu Dhabi.”
Several details are not yet public. The AGBI report does not name the site of the masterplan inside Ajman, and it gives no launch prices, unit mix or payment plans. Until the formal launch at the International Property Show in 2027, the project is a pipeline announcement by the developer rather than a product on sale.
The masterplan at a glance
| Indicator | Figure |
|---|---|
| Value | AED 8.5 billion, about USD 2.3 billion |
| Towers | 27 |
| Apartments | Almost 10,000 |
| Area | About 15 million sq ft, about 1.4 million sq m |
| First phase | Seven towers, construction due to begin in 2027 |
| Full completion | Within seven years, according to the chief executive |
| Formal announcement | International Property Show, Dubai, 2027 |
| Design | Al Hatmy Design and Engineering Consultancy, Dubai |
| Site, prices, payment plan | Not yet disclosed |
The USD figure is the one given by AGBI. At the fixed peg of AED 3.6725 to USD 1, AED 8.5 billion equals about USD 2.31 billion. The square metre figure is our conversion.
Who is GJ Properties
GJ Properties is a privately held, family-owned developer led by Ali Jaber. It has almost 4,500 units under construction across nine projects in Ajman, as well as the Biltmore Residences tower on Sheikh Zayed Road in Dubai. Excluding the new masterplan, its development pipeline covers more than 7 million square feet.
Jaber said property sales at GJ Properties are up almost 40 per cent year on year. He attributed part of the growth to Ajman’s affordability compared with Dubai and Abu Dhabi: in his view, Ajman lets people keep a life in the UAE when the cost of living in Dubai or Abu Dhabi becomes a concern for them.
An IPO on the Abu Dhabi Securities Exchange is on the radar
The company is preparing for a potential listing on ADX, and Deloitte has been appointed to advise on the initial application process. Jaber did not give a date, an offer size or the share of the company that could be floated. “How large a percentage of the company and what assets are going to be involved, it’s probably too early for that discussion, but an IPO is definitely on our radar,” he said.
For investors there is nothing to subscribe to yet. The application is at its initial stage, and neither the size nor the structure of any offer has been set.
Why Ajman: the price gap with Dubai
Ajman lies on the coast between Sharjah and Umm Al Quwain. It is the smallest of the seven emirates at about 259 square kilometres, and its population is approaching 600,000, according to AGBI.
Price is the main argument for the emirate. According to Colliers data cited by AGBI, the average price per square foot is AED 300-400 in Ajman and AED 1,200-1,500 in Dubai, three to five times higher. At those averages, an apartment of 1,000 square feet, about 93 square metres, would cost roughly AED 300,000-400,000 in Ajman and AED 1.2-1.5 million in Dubai. Actual prices depend on the district, the building and the view, so this is an illustration rather than a quote.
Ajman property market in the first half of 2026
Official figures show an active market. The Ajman Land and Real Estate Regulation Department recorded 6,815 real estate transactions worth more than AED 10.8 billion in the first half of 2026, according to the Ajman Real Estate Index. Director-General Omar bin Omair Al Muhairi said they included 5,435 sale transactions worth AED 7.64 billion and 969 mortgage transactions worth more than AED 1.88 billion.
| Ajman, first half of 2026 | Figure |
|---|---|
| All real estate transactions | 6,815, worth more than AED 10.8 billion |
| Sale transactions | 5,435, worth AED 7.64 billion |
| Mortgage transactions | 969, worth more than AED 1.88 billion |
| Largest single sale | AED 215 million, Al Amerah |
| Most traded projects | Emirates City, City Towers, Ajman One |
| Most traded neighbourhoods | Al Helio 2, Al Helio 1, Al Zahia |
| Rental contracts | 73,472, worth AED 2.91 billion |
The rental side is just as busy: Ajman registered 73,472 rental contracts worth AED 2.91 billion in the same half year, as we covered in our review of the Ajman rental market in H1 2026. For the picture across all emirates, see our UAE real estate review for H1 2026.
What the plan means for buyers, investors and companies
- Buyers: nothing is on sale yet. The formal launch is planned for the International Property Show in 2027, and the site, prices and payment plan have not been published. When sales open, check that the project is registered with the Ajman Land and Real Estate Regulation Department before paying a deposit.
- Buyers with a mortgage: 969 mortgage deals in six months show that bank financing is part of the Ajman market. Our guide to mortgages in the UAE for residents and non-residents explains what banks ask for and how the process runs.
- Contractors, consultants and suppliers: construction of seven towers from 2027 means tenders for contracting, engineering and supply work. A company that wants to bid needs a UAE licence with the right activities and a working bank account before tenders open.
- Equity investors: the IPO is at the stage of an initial application prepared with Deloitte, with no date, size or share percentage announced.
- Everyone comparing emirates: the averages cited by AGBI put Ajman at AED 300-400 per square foot against AED 1,200-1,500 in Dubai, and the developer links part of its sales growth to that gap.
How Atlant Capital can help
We work on the corporate side of property and construction, not on brokerage. When a buyer plans to hold apartments in Ajman or Dubai through a UAE company, the company has to be registered and bankable before the first payment, and that sequence is where timelines usually slip. We handle company formation in the UAE with activities suited to holding and leasing property, and we run corporate bank account opening so that funds can move on the day sales open.
For contractors, engineering firms and suppliers that want to work on projects of this size, we set up the company with the activities the tenders require, open its account and arrange work permits and residence visas for the team. If you are comparing Ajman with Dubai or another emirate for a purchase or a new company, tell us what you plan and we will set out the options side by side.
The bottom line
GJ Properties plans to add 27 towers and almost 10,000 apartments to Ajman for AED 8.5 billion, starting with seven towers in 2027 and finishing within seven years, according to its chief executive. The formal launch is set for the International Property Show in Dubai in 2027, and an ADX listing is being prepared with Deloitte, without a date. Until then, the hard numbers are Ajman’s own: 6,815 deals worth more than AED 10.8 billion in the first half of 2026.
Source: AGBI, Khaleej Times.
FAQ
What is GJ Properties planning in Ajman?
GJ Properties plans an AED 8.5 billion masterplan in Ajman, about USD 2.3 billion, with 27 towers and almost 10,000 apartments across about 15 million square feet. Chief executive Ali Jaber described the plan in an AGBI report published on 30 September 2026. The project is due to be formally announced at the International Property Show in Dubai in 2027.
When will construction of the GJ Properties masterplan start and finish?
Construction of the first phase, seven of the 27 towers, is due to begin in 2027. The towers will be built in phases, and Ali Jaber expects the full project to be completed within seven years. The site within Ajman, launch prices and payment plans have not yet been disclosed.
Is GJ Properties planning an IPO?
Yes, the company is preparing for a potential listing on the Abu Dhabi Securities Exchange, and Deloitte has been appointed to advise on the initial application process. No date, offer size or share of the company has been announced. Ali Jaber said an IPO is definitely on the company’s radar but that it is too early to discuss details.
How do Ajman property prices compare with Dubai?
According to Colliers data cited by AGBI, the average price per square foot is AED 300-400 in Ajman and AED 1,200-1,500 in Dubai, three to five times higher. In the first half of 2026 Ajman recorded 6,815 real estate transactions worth more than AED 10.8 billion, including 5,435 sales worth AED 7.64 billion and 969 mortgages worth more than AED 1.88 billion.
