HH Sheikh Humaid bin Rashid Al Nuaimi, Supreme Council Member and Ruler of Ajman has restructured the leadership team at Ajman Properties Corporation (AQAAR), appointing Sheikh Rashid bin Humaid Al Nuaimi as chairman and Sheikh Humaid bin Ammar Al Nuaimi as vice-chairman under a four-year term starting immediately.
HH Sheikh Humaid bin Rashid Al Nuaimi issued Emiri Decree No. 12 of 2025 to overhaul the AQAAR board, tasking it with guiding the emirate’s property strategy over the next four years. The reshuffle stands effective upon publication in the Official Gazette.
The decree assigns leadership to AQAAR’s newly appointed chair and vice-chair, backed by three additional board members whose names were not disclosed. The move underscores Ajman’s intention to recalibrate oversight of its real estate projects and reinforce government control over property development.
AQAAR, founded by an Emiri decree in 2002, is the emirate’s main property vehicle. It consolidated the Department of Private Properties and the Real Estate Investments Authority to steer residential and commercial development projects.
Ajman’s real estate sector has attracted increasing attention. In the first quarter of 2025, transactions across the Emirate topped Dh5.5 billion in value, with Dh2.06 billion recorded in March alone, following the introduction of new rules on service fees and real estate contributions.
The new board will also operate under Ajman’s refreshed regulatory environment, which includes clearer guidelines for service charges, payment structures, and penalties enforced by the Department of Land and Real Estate Regulation, as per Emiri Decree No. 9 of 2025.
