The Ajman Department of Land and Real Estate Regulation has signed a strategic Memorandum of Understanding (MoU) with Ajman Bank, signalling a new phase of collaboration to boost financial integration and deliver innovative, tech-driven services for the real estate sector.
The agreement was formalised during a signing ceremony attended by H.E. Eng. Omar bin Omair Al Muhairi, Director General of the Department, and H.E. Mustafa Al Khalfawi, Chief Executive Officer of Ajman Bank.
According to both parties, the partnership aims to enhance operational efficiency, improve oversight, and streamline financial processes between real estate stakeholders, developers, and the government.
“This strategic partnership with Ajman Bank reflects our commitment to advancing the department’s digital capabilities and streamlining financial performance,” said Eng. Omar Al Muhairi. “Ajman Bank plays a vital role in supporting our ongoing efforts to build an agile, tech-enabled regulatory environment that responds effectively to the needs of real estate developers and investors.”
Under the agreement, Ajman Bank will provide the department with comprehensive and periodic escrow account reports, giving regulators deeper insight into the progress of real estate development projects. This is expected to enhance transparency, strengthen investor confidence, and promote greater financial accountability in the emirate’s growing property market.
The collaboration will also pave the way for faster and more secure financial transactions by digitising key payment and approval systems. Stakeholders, including developers and investors, will benefit from reduced procedural complexity and access to integrated financial services aligned with Ajman’s wider digital transformation strategy.
“At Ajman Bank, we believe in the power of institutional collaboration to elevate the quality of financial services,” said Mustafa Al Khalfawi, CEO of Ajman Bank. “This agreement reflects our shared vision of trust, integration, and efficiency. It supports Ajman’s positioning as a competitive and investment-friendly emirate.”
The initiative comes amid increasing efforts across the UAE to integrate financial and regulatory ecosystems, ensuring that real estate development is supported by robust banking frameworks and real-time data sharing.
Ajman’s real estate sector has witnessed steady growth, attracting a mix of domestic and foreign investment. The emirate’s emphasis on modern infrastructure, ease of doing business, and efficient regulatory procedures has made it a destination of choice for developers and end-users alike.
By leveraging the technological and financial expertise of Ajman Bank, the Department of Land and Real Estate Regulation aims to further enhance investor confidence and ensure that development projects are delivered on time and within regulatory frameworks.
Officials said the MoU serves as a model for inter-sectoral collaboration, setting a benchmark for how public-private partnerships can drive innovation, strengthen oversight, and contribute to sustainable economic growth in the emirate.
The partnership is expected to result in new digital platforms, smarter escrow solutions, and improved data exchange mechanisms in the coming months.
