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DUBAI, UAE – NN Real Estate, a leading Dubai-based real estate company, today announced the complete sellout of its Al Manama project in Ajman within an unprecedented 30-day period. All 37 designated freehold plots worth 10 million AED, suitable for independent villas, were sold, the company said.
Record-Breaking Performance in a Competitive Market
The achievement stands out in the highly competitive UAE real estate sector, where most projects typically take months to gain traction. The success comes amid a period of remarkable growth for Ajman’s real estate market, which recorded transactions valued at over AED 9 billion in the first half of 2024 – a 33% increase from the previous period.
“This sellout demonstrates the strong appetite for authentic freehold land ownership in strategically positioned locations,” said Noushad Salahudeen, co-founder of NN Real Estate. “Our buyers weren’t just purchasing property rights – they were acquiring actual UAE land they can truly call their own.”
Key Success Factors
The project’s rapid success was driven by several innovative approaches:
True Freehold Ownership at Accessible Prices: Unlike Dubai’s typical high-rise apartments, Al Manama offers actual land ownership at approximately AED 75 per square foot, providing exceptional value compared to central Dubai, Sharjah, or central Ajman locations.
Flexible Payment Structure: The company implemented an investor-friendly financing approach featuring a 30% down payment, 12-month payment completion with no interest, and no hidden transfer fees or complex documentation.
Strategic Location: Al Manama’s positioning includes essential services nearby (police station, health center, Etihad Water Office), 30-40 minute access to major airports, future connectivity via the planned Etihad Railway route, and proximity to natural attractions including wadis, hills, and Baya Dam.
Innovative Marketing Approach
NN Real Estate implemented a genuine social media strategy, with co-founder Noushad Salahudeen producing regular video content on Instagram and TikTok. The approach featured real site visits to showcase properties to clients, candid discussions about investment opportunities, educational insights on freehold ownership benefits, and transparent updates on the development process.
Diverse Buyer Profile
The sales reflected the evolving UAE property investment landscape, with buyers including mid-income expat professionals, business owners, UAE nationals, first-time investors, and seasoned investors diversifying their portfolios. Motivations included escaping high-rise city living, securing true land ownership, building custom homes, long-term appreciation potential, and portfolio diversification at accessible entry points.
Market Impact and Future Outlook
The rapid sellout signals a shift in UAE property preferences toward authentic land ownership over high-rise apartments, boosting investor confidence in emerging areas with solid infrastructure and highlighting demand for flexible, transparent payment structures.
“This success proves that buyers in today’s UAE property market reward genuine value over inflated promises, transparent processes over complex structures, and personal service over automated transactions,” the company stated.
NN Real Estate plans similar value-focused projects in response to growing market demand for accessible freehold land ownership, as well as commercial and other property types.
NN Real Estate is a Dubai-based real estate company specializing in freehold lands for expats, commercial properties, and various other property types across the UAE. Founded by Noushad Salahudeen and Nazar Sheik, the company focuses on strategic locations with growth potential, transparent payment structures, and authentic client relationships.
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