UAE – The real estate markets in Dubai and Abu Dhabi have been named as the top global improvers in 2022, JLL said in its latest Global Real Estate Transparency Index (GRETI).
Dubai gained three spots to hold the 31st position worldwide on the list, marking its entry into the transparent tier while being the only real estate market in MENA to be featured.
Meanwhile, Abu Dhabi ranked 45th worldwide, gaining one rank and maintaining its place in the Semi-Transparent tier.
The record of Dubai was attributed to the enhanced digital services and data provision processes like service charge management, automated valuation, and transactions databases through the Dubai Real Estate Self Transaction (Dubai REST) platform.
Sultan Butti bin Mejren, Director General of Dubai Land Department, said: “With the global recovery of the economy, we recognised the need to focus on improving market transparency to make better decisions that will support both developers and investors alike.”
He added: “Today, investors from around the world are increasingly looking at Dubai’s real estate to invest and we, at Dubai Land Department, are committed to enhancing transparency within the sector.”
Thierry Delvaux, CEO of JLL, Middle East, Africa, and Turkey, noted: “Faster progress and greater global alignment across industry initiatives and standards are needed to meet growing pressure from companies, consumers, investors, and the public for higher levels of transparency.”
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