Dubai’s real estate sector most ‘transparent’ in Mena: JLL Index

Dubai’s real estate sector most ‘transparent’ in Mena: JLL Index

UAE - The real estate markets of Dubai and Abu Dhabi have been recognised as the top global improvers in 2022, according to JLL’s latest Global Real Estate Transparency Index (GRETI).

Dubai also entered the ‘Transparent’ tier for the first time underlining its position as the most transparent property market in the Middle East and North Africa region.

The emirate gained three ranks in the index to 31st position globally and is the only property market in Mena to feature in the ‘Transparent’ tier.

Dubai’s gains in the transparency ranking are led by new regulations around market lending practices, beneficial ownership tracking and sustainability reporting as well as enhanced digital services and data provision such as service charge management, automated valuations, and transactions databases through the Dubai REST platform. The gain in ranking also builds on the new initiatives announced by the Dubai Government with private companies such as transaction-based sales indices and a building wellbeing certification.

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. Today, investors from around the world are