Editing Emirate of Ajman (section)

==Economy==
[[File:Al Rashidiya 1 - Ajman - United Arab Emirates - panoramio.jpg|thumb|Al Rashidiya 1 district and port]]
Ajman's GDP was $4.23 billion in 2012,<ref name=":2">{{Cite book|title = Ajman Annual Economic Report|publisher = Government of Ajman|location = UAE|pages = 22–30}}</ref> in which it had a positive trade balance with exports of $1.61 billion and imports of $600 million.<ref>{{Cite book|title = Ajman Annual Economic Report|publisher = Government of Ajman|year = 2013|pages = 34}}</ref>  Ajman grew by 5% as GDP increased from 15,690 million dirhams in 2012 to 16,441 million in 2013, according to the annual economic reports of Ajman 2013 and 2014.<ref name=":13">[https://www.ajmanded.ae/en/pdf/2014AnnualReportEN.pdf Annual report 2014] {{Webarchive|url=https://web.archive.org/web/20210629190218/https://www.ajmanded.ae/en/pdf/2014AnnualReportEN.pdf |date=29 June 2021 }}</ref><ref name=":17">{{Cite web|title=Ajman Economy Grow by 5% with GDP at 2013 Market Prices Increase to AED 16,414 Million|url=https://www.zawya.com/mena/en/press-releases/story/Ajman_Economy_Grow_by_5_with_GDP_at_2013_Market_Prices_Increase_to_AED_16414_Million-ZAWYA20151209082906|access-date=2021-08-11|website=www.zawya.com|language=en}}</ref><ref>{{Cite web|title=Ajman Economy Grow by 5% with GDP at 2013 Market Prices Increase to AED 16,414 Million|url=http://m.dubaiprnetwork.com/pr.asp?pr=105256|access-date=2021-08-11|website=m.dubaiprnetwork.com|archive-date=11 August 2021|archive-url=https://web.archive.org/web/20210811210404/http://m.dubaiprnetwork.com/pr.asp?pr=105256|url-status=live}}</ref>

Ajman's economy is dominated by five sectors: manufacturing; construction; wholesale and retail; real estate and business services; and transport, storage and communications. In 2012, these sectors contributed some 82% of total GDP, with manufacturing (37%) and construction (15%) the two largest contributors.<ref name=":14">[https://www.ajmanded.ae/en/pdf/2013AnnualReportEN.pdf Annual report 2013] {{Webarchive|url=https://web.archive.org/web/20210815143016/https://www.ajmanded.ae/en/pdf/2013AnnualReportEN.pdf |date=15 August 2021 }}</ref><ref name=":13" /> The three largest growth sectors in Ajman from 2010 to 2012 were social and personal services, which grew 6.4%, transport, storage and communication, which grew 5.1% and manufacturing, which grew 5%.<ref name=":2" /><ref name=":14" />

In 2013, the relative share of manufacturing activity formed 35% of GDP. The construction sector constituted 15%, including general contracting and maintenance, construction, and civil construction such as roads, bridges, and water systems. The relative contribution of the wholesale, retail trade, and repair services sector, which includes the resale of new and used goods, repair, and maintenance, reached about 13% of the value of GDP in the same year.<ref name=":13" /><ref name=":17" />

The fastest-growing trades in the manufacturing sector from 2009 to 2011 were carpentry and paper products, printing and publishing. Overall, the manufacturing sector in Ajman grew 16.3% over this period.<ref name=":3">{{Cite book|title = Ajman Annual Economic Report|publisher = Government of Ajman|year = 2013|location = UAE|pages = 35–38}}</ref> The re-exporting of chemicals and plastic products clocked over 100% growth in this same time period.<ref name=":14" />

Major export markets from 2009 to 2011 were represented by the GCC countries (31%) and Asia (27%), while Africa and Asia were the fastest growing export markets over this period. Saudi Arabia, Qatar, Oman and Iran were the Ajman's principal export trade partners.<ref name=":3" /><ref name=":14" />

Investments in Ajman grew in 2013 by 5% compared to 2012. Exports (including re-export) grew in the second quarter of 2014 by 53%.<ref>{{Cite news|url = https://www.zawya.com/story/Ministry_of_Economy_Releases_Emiratespecific_Data_on_Latest_Economic_Achievements_Ahead_of_UAEs_First_Economic_Planning_Forum_in_Fujairah-ZAWYA20141014105751/|title = UAE's first economic planning forum in Fujairah|date = 14 October 2014|work = Zawya|access-date = 30 November 2014|archive-date = 1 December 2014|archive-url = https://web.archive.org/web/20141201010104/http://www.zawya.com/story/Ministry_of_Economy_Releases_Emiratespecific_Data_on_Latest_Economic_Achievements_Ahead_of_UAEs_First_Economic_Planning_Forum_in_Fujairah-ZAWYA20141014105751/|url-status = live}}</ref><ref name=":13" />

=== Ajman Free Zone (AFZA) ===
Established in 1988 to lead the industrial development of the emirate by attracting various companies and offering different privileges.<ref>{{Cite web|title=Ajman Free Zone|url=https://uaefreezones.com/fz_ajman.html|access-date=2021-08-21|website=uaefreezones.com|archive-date=21 August 2021|archive-url=https://web.archive.org/web/20210821115002/https://www.uaefreezones.com/fz_ajman.html|url-status=live}}</ref><ref>{{Cite web|title=Ajman Free Zone Authority (AFZ), UAE - Company Information, Key People, Latest News and Contact Details - ZAWYA MENA Edition|url=https://www.zawya.com/mena/en/company/Ajman_Free_Zone_Authority-1000174/|access-date=2021-08-21|website=www.zawya.com|language=en|archive-date=21 August 2021|archive-url=https://web.archive.org/web/20210821115004/https://www.zawya.com/mena/en/company/Ajman_Free_Zone_Authority-1000174/|url-status=live}}</ref><ref name=":18">{{Cite web|date=2020-06-18|title=Ajman Free Zone Authority|url=https://www.nrdoshi.ae/ajman-free-zone-authority-afza-all-you-need-to-know/|access-date=2021-08-21|website=N R Doshi & Partners|language=en-US|archive-date=21 August 2021|archive-url=https://web.archive.org/web/20210821115003/https://www.nrdoshi.ae/ajman-free-zone-authority-afza-all-you-need-to-know/|url-status=live}}</ref> Ajman Port and Ajman Free Zone are major contributors to the emirate's economy.<ref>{{Cite web|title=UAE Freezones: air and sea ports and free zones|url=https://gcc.mazars.com/Home/Contact-us/Frequently-Asked-Questions/Frequently-Asked-Questions-for-the-UAE/UAE-Freezones|access-date=2021-08-21|website=gcc.mazars.com|language=en-GB|archive-date=11 August 2021|archive-url=https://web.archive.org/web/20210811205221/https://gcc.mazars.com/Home/Contact-us/Frequently-Asked-Questions/Frequently-Asked-Questions-for-the-UAE/UAE-Freezones|url-status=live}}</ref><ref>{{Cite web|title=Ajman Free Zone Authority (AFZA) — Business Setup Packages|url=https://mybusinessconsulting.ae/ajman-free-zone-authority-afza/|access-date=2021-08-21|website=My Business Consulting DMCC|language=en-US|archive-date=21 August 2021|archive-url=https://web.archive.org/web/20210821115450/https://mybusinessconsulting.ae/ajman-free-zone-authority-afza/|url-status=live}}</ref><ref>{{Cite web|title=All about the Ajman Free Zone: Companies, Contact & more|url=https://www.bayut.com/mybayut/all-about-ajman-free-zone/|access-date=2021-08-21|website=A blog about homes, trends, tips & life in the UAE|language=en-US|archive-date=21 August 2021|archive-url=https://web.archive.org/web/20210821130432/https://www.bayut.com/mybayut/all-about-ajman-free-zone/|url-status=live}}</ref> Exporting to over 65 countries, the Free Zone has some 256 industrial companies and more than 12,000 companies operated in it.<ref>{{Cite web|url = http://www.uaefreezones.com/fz_ajman.html|title = Ajman Free Zone|access-date = 30 November 2014|website = UAEFreeZones.com|archive-date = 12 October 2014|archive-url = https://web.archive.org/web/20141012115509/http://www.uaefreezones.com/fz_ajman.html|url-status = live}}</ref><ref name=":18" /><ref>[https://www.ups.com/assets/resources/media/en_GB/how_to_ship_to_UAE.pdf How to ship to UAE] {{Webarchive|url=https://web.archive.org/web/20210821115003/https://www.ups.com/assets/resources/media/en_GB/how_to_ship_to_UAE.pdf |date=21 August 2021 }}</ref>

The business activity in [[Ajman Free Zone]] grew at an annual growth rate of about 23%, while the licenses issued grew from 1590 in 2009 to 2386 in 2011. The number of issued licenses by Ajman Municipality increased from 17,873 in 2009 to 21,799 in 2011 at an annual average rate of 10.4%. Then, it jumped to 24,525 in 2013 to mark the average growth rate as 26% in 2013.<ref name=":14" /><ref name=":13" /> The renewed licenses in Ajman Free Zone increased by 33% in 2014 compared to 2013, while the new licenses issued in the same period achieved an increase of 70%.<ref name=":13" />

===Real estate===
Ajman was the first emirate in the UAE to offer 100% freehold to global investors, in 2004.<ref name=":19" /><ref>{{Cite web|title=Sharjah, Ajman Allows Global Investors to Have 100% Ownership|url=https://businessakhbar.com/sharjah-ajman-allows-global-investors-to-have-100-ownership/|access-date=2021-08-31|website=businessakhbar.com|archive-date=31 August 2021|archive-url=https://web.archive.org/web/20210831163140/https://businessakhbar.com/sharjah-ajman-allows-global-investors-to-have-100-ownership/|url-status=usurped}}</ref><ref>{{Cite web|last=Rizvi|first=Muzaffar|title=Sharjah, Ajman offer 100% ownership to foreign investors|url=https://www.khaleejtimes.com/business/local/sharjah-ajman-offer-100-ownership-to-foreign-investors|access-date=2021-08-31|website=Khaleej Times|language=en|archive-date=31 August 2021|archive-url=https://web.archive.org/web/20210831163137/https://www.khaleejtimes.com/business/local/sharjah-ajman-offer-100-ownership-to-foreign-investors|url-status=live}}</ref> This led to real estate prices rising rapidly, from $11 per square foot and, by 2007, developers had announced projects worth $21.78 billion, consisting of around 65,000 units in all.<ref name=":4">{{Cite book|title = Rashid: Portrait of a Ruler|last = Wilson|first = Graeme|publisher = Media Prima|year = 2010|isbn = 9789948152880|location = UAE|pages = 364}}</ref><ref>{{Cite book|url=https://books.google.com/books?id=KPPOkAKwk0gC&q=65&pg=PA42|title=The Report: Ajman 2008|date=2008|publisher=Oxford Business Group|isbn=978-1-902339-82-5|language=en|access-date=20 October 2021|archive-date=20 February 2023|archive-url=https://web.archive.org/web/20230220102209/https://books.google.com/books?id=KPPOkAKwk0gC&q=65&pg=PA42|url-status=live}}</ref> In an emirate with a population that used to be 240,000 the figure was high by any standard and the pace of development was not sustainable, with the [[2008 financial crisis]] bringing development to a sharp halt. With considerable pain from investors in stalled projects, the [[Ajman Real Estate Regulatory Agency]] came under considerable pressure.<ref name=":22">{{Cite web|last=Nair|first=Deepthi|title=Ajman property regulator to restart stalled projects|url=https://www.khaleejtimes.com/business/real-estate/ajman-property-regulator-comes-to-investors-rescue|access-date=2021-08-31|website=Khaleej Times|language=en|archive-date=31 August 2021|archive-url=https://web.archive.org/web/20210831171512/https://www.khaleejtimes.com/business/real-estate/ajman-property-regulator-comes-to-investors-rescue|url-status=live}}</ref><ref name=":23">{{Cite web|date=2011-04-25|title=Investors seeking legal route to recover down payments on stalled Ajman projects|url=https://www.propertywire.com/news/asia/ajman-uae-property-projects-2/|access-date=2021-08-31|website=PropertyWire|language=en-GB|archive-date=31 August 2021|archive-url=https://web.archive.org/web/20210831171512/https://www.propertywire.com/news/asia/ajman-uae-property-projects-2/|url-status=live}}</ref><ref name=":20">{{cite web| url = https://www.arabianbusiness.com/aqaar-complete-ajman-one-by-2011-17146.html| title = arabianbusiness.com| access-date = 31 August 2021| archive-date = 31 August 2021| archive-url = https://web.archive.org/web/20210831171510/https://www.arabianbusiness.com/aqaar-complete-ajman-one-by-2011-17146.html| url-status = live}}</ref>

By 2011, work was continued on a number of projects, including the mixed business, leisure and residential development Ajman One.<ref name=":20" /><ref>{{Cite web|title=Ajman One Tower Building Guide|url=https://www.bayut.com/buildings/ajman-one-towers/|access-date=2021-08-31|website=Building Guides for Dubai, Abu Dhabi & Entire UAE|language=en-US|archive-date=31 August 2021|archive-url=https://web.archive.org/web/20210831171512/https://www.bayut.com/buildings/ajman-one-towers/|url-status=live}}</ref>

===Recent developments===
[[File:Ajman beach-9.jpg|thumb|Beach at Ajman]]
A development boom followed the opening of Ajman's real estate market to global investors in 2004, with 'true' freehold on offer.<ref name=":4" /><ref>{{Cite web|title=Investors rush to buy freehold properties in Ajman|url=https://gulfnews.com/uae/investors-rush-to-buy-freehold-properties-in-ajman-1.330693|access-date=2021-08-31|website=gulfnews.com|language=en|archive-date=31 August 2021|archive-url=https://web.archive.org/web/20210831172229/https://gulfnews.com/uae/investors-rush-to-buy-freehold-properties-in-ajman-1.330693|url-status=live}}</ref> By 2008 the growth of real estate speculation and investment had led to the establishment of a real estate regulator, the [[Ajman Real Estate Regulatory Agency]].<ref name=":21" /><ref>{{Cite web|title=Ajman Real Estate Regulatory Agency (ARRA), UAE - Company Information, Key People, Latest News and Contact Details - ZAWYA MENA Edition|url=https://www.zawya.com/mena/en/company/Ajman_Real_Estate_Regulatory_Agency-1008939/|access-date=2021-08-31|website=www.zawya.com|language=en|archive-date=15 August 2021|archive-url=https://web.archive.org/web/20210815144943/https://www.zawya.com/mena/en/company/Ajman_Real_Estate_Regulatory_Agency-1008939/|url-status=live}}</ref><ref>{{cite web| url = https://www.arabianbusiness.com/ajman-planning-real-estate-regulator-42390.html| title = arabianbusiness.com| access-date = 31 August 2021| archive-date = 31 August 2021| archive-url = https://web.archive.org/web/20210831172229/https://www.arabianbusiness.com/ajman-planning-real-estate-regulator-42390.html| url-status = live}}</ref> Arguably ineffective in the face of the fast-moving and evolutionary gold rush taking place, ARERA had not implemented widespread policies or regulations to curb the overheating market by the time the [[2008 financial crisis]] brought many developments to a crashing halt.<ref name=":22" /><ref name=":23" /><ref name=":20" /> As of 2014, a number of key stalled projects had restarted, marking a more cautious and measured return to the development of the emirate's real estate market, which has recently benefited from offering competitive rentals to nearby Sharjah and Dubai.<ref>{{Cite news|url = http://gulfbusiness.com/2014/07/ajman-emerges-relocation-hotspot-dubai-sharjah-residents/|title = Ajman emerges as a relocation hotspot|last = Nagraj|first = Aarti|date = 15 July 2014|work = Gulf Business|access-date = 30 December 2014|archive-date = 20 December 2014|archive-url = https://web.archive.org/web/20141220163726/http://gulfbusiness.com/2014/07/ajman-emerges-relocation-hotspot-dubai-sharjah-residents/|url-status = dead}}</ref><ref name=":22" />

The construction of [[Ajman International Airport]] began in the second half of 2008 after rescheduling the plan in 2003 in the Al Manama area of Ajman. Airport operations were scheduled to begin by 2011, and the airport was expected to host about 1 million passengers a year, rising to 10.4 million by 2046. The project stalled but has now been restarted and was projected to be completed by 2018<ref>{{Cite news|url = http://www.arabianbusiness.com/ajman-crown-prince-approves-571m-airport-plans-564682.html|title = Ajman Crown Prince approves $571m airport plans|last = Sambidge|first = Andy|date = 14 September 2014|work = Arabian Business|access-date = 30 December 2014|archive-date = 16 December 2014|archive-url = https://web.archive.org/web/20141216104932/http://www.arabianbusiness.com/ajman-crown-prince-approves-571m-airport-plans-564682.html|url-status = live}}</ref><ref>{{cite web| url = https://www.arabianbusiness.com/ajman-crown-prince-approves-571m-airport-plans-564682.html| title = arabianbusiness.com| access-date = 31 August 2021| archive-date = 5 June 2018| archive-url = https://web.archive.org/web/20180605205236/http://www.arabianbusiness.com/ajman-crown-prince-approves-571m-airport-plans-564682.html| url-status = live}}</ref><ref name=":24">{{Cite web|title=Parks, marina and airport all on the horizon for Ajman|url=https://www.thenationalnews.com/uae/parks-marina-and-airport-all-on-the-horizon-for-ajman-1.631453|access-date=2021-08-31|website=The National|date=15 February 2015|archive-date=22 June 2017|archive-url=https://web.archive.org/web/20170622113650/http://www.thenational.ae/uae/parks-marina-and-airport-all-on-the-horizon-for-ajman|url-status=live}}</ref> and will entail an investment of some $575m.<ref name=":5">{{Cite news|url = http://www.thenational.ae/uae/parks-marina-and-airport-all-on-the-horizon-for-ajman|title = Parks, marina and airport all on the horizon for Ajman|last = Oeiti|first = Rezan|date = 15 February 2015|work = The National|access-date = 16 February 2015|archive-date = 22 June 2017|archive-url = https://web.archive.org/web/20170622113650/http://www.thenational.ae/uae/parks-marina-and-airport-all-on-the-horizon-for-ajman|url-status = live}}</ref><ref>{{Cite web|title=Sharjah, Ajman turn 'attractive property hubs for buyers, tenants'|url=https://www.zawya.com/mena/en/business/story/Sharjah_Ajman_turn_attractive_property_hubs_for_buyers_tenants-SNG_200851656|access-date=2021-08-31|website=www.zawya.com|language=en|archive-date=31 August 2021|archive-url=https://web.archive.org/web/20210831172716/https://www.zawya.com/mena/en/business/story/Sharjah_Ajman_turn_attractive_property_hubs_for_buyers_tenants-SNG_200851656/|url-status=live}}</ref> However, it was put on hold till early 2020.<ref>{{Cite web|title=Ajman Airport|url=http://www.dubaifaqs.com/ajman-airport.php|access-date=2021-08-31|website=www.dubaifaqs.com|archive-date=31 August 2021|archive-url=https://web.archive.org/web/20210831173516/http://www.dubaifaqs.com/ajman-airport.php|url-status=live}}</ref><ref>{{Cite web|title=More details of Ajman International Airport unveiled|url=https://gulfnews.com/business/aviation/more-details-of-ajman-international-airport-unveiled-1.103560|access-date=2021-08-31|website=gulfnews.com|language=en|archive-date=31 August 2021|archive-url=https://web.archive.org/web/20210831173514/https://gulfnews.com/business/aviation/more-details-of-ajman-international-airport-unveiled-1.103560|url-status=live}}</ref><ref>{{Cite web|title=Arabian Aerospace - Is there a real case for an international airport at Ajman?|url=https://www.arabianaerospace.aero/is-there-a-real-case-for-an-international-airport-at-ajman-.html|access-date=2021-08-31|website=www.arabianaerospace.aero|archive-date=31 August 2021|archive-url=https://web.archive.org/web/20210831173925/https://www.arabianaerospace.aero/is-there-a-real-case-for-an-international-airport-at-ajman-.html|url-status=live}}</ref><ref>{{Cite web|title=Ajman airport tender to be issued this year|url=https://gulfnews.com/uae/ajman-airport-tender-to-be-issued-this-year-1.358278|access-date=2021-08-31|website=gulfnews.com|language=en|archive-date=31 August 2021|archive-url=https://web.archive.org/web/20210831173924/https://gulfnews.com/uae/ajman-airport-tender-to-be-issued-this-year-1.358278|url-status=live}}</ref><ref>{{Cite web|title=Boeing books its first profit since the pandemic on the back of 737 MAX deliveries|url=https://gulfnews.com/business/aviation/boeing-books-its-first-profit-since-the-pandemic-on-the-back-of-737-max-deliveries-1.1627486465228|access-date=2021-08-31|website=gulfnews.com|language=en|archive-date=31 August 2021|archive-url=https://web.archive.org/web/20210831173923/https://gulfnews.com/business/aviation/boeing-books-its-first-profit-since-the-pandemic-on-the-back-of-737-max-deliveries-1.1627486465228|url-status=live}}</ref><ref>{{Cite web|title=Ajman International Airport Project - Details on ZAWYA MENA Edition|url=https://www.zawya.com/mena/en/project/311207094122/ajman-international-airport-project/|access-date=2021-08-31|website=www.zawya.com|language=en|archive-date=31 August 2021|archive-url=https://web.archive.org/web/20210831173932/https://www.zawya.com/mena/en/project/311207094122/ajman-international-airport-project/|url-status=live}}</ref>

In 2007, the Ajman Marina project was launched by the Tanmiyat Group. The $3 billion was being constructed in two phases over the following five years. The project includes running tracks and facilities to attract international sporting events and provide a draw for tourism to the emirate.<ref name=":5" /><ref name=":24" /><ref>{{Cite web|title=No gain without pain: Why China's reform push must hurt investors?|url=https://gulfnews.com/business/analysis/no-gain-without-pain-why-chinas-reform-push-must-hurt-investors-1.1627465853202|access-date=2021-08-31|website=gulfnews.com|language=en|archive-date=31 August 2021|archive-url=https://web.archive.org/web/20210831174436/https://gulfnews.com/business/analysis/no-gain-without-pain-why-chinas-reform-push-must-hurt-investors-1.1627465853202|url-status=live}}</ref>