While the fire did not cause any deaths or injuries, parts of the market completely collapsed and burned to the ground, Sheikh Sultan bin Abdullah al-Nuaimi said in a statement, per Reuters.
Authorities raced to the scene, blocking off the area where an investigation will be launched, he added.
The fire broke out around 6:30 p.m. at the Iranian souq.
Several firefighters were dispatched to the scene and they took more than four hours to bring the blaze under control.
Workers at the neighboring markets told reporters that flames quickly engulfed the area and sent thick plumes of black smoke into the air.
The nearby Ajman Speciality Hospital was evacuated as a precautionary measure.
Due to the coronavirus pandemic, the market had been closed for several months and there weren’t a lot of people nearby.
The Ajman fire comes one day after a pair of explosions rocked Beirut’s industrial waterfront, killing more than 100 people and injuring 4,000 others.