Dubai and Abu Dhabi have emerged as two of the most improved markets globally for real estate transparency.
In accordance with JLL’s 2024 Global Real Estate Transparency Index (GRETI). Thanks to a number of strategic efforts and legislative reforms, these cities have achieved great progress in improving the transparency and openness of their real estate industries, which have been recognized by this honors.
In particular, Dubai has moved up to the 28th spot on the GRETI, continuing to hold its position as the Middle East and North Africa (MENA) region’s most transparent real estate market. The Emirate’s hard work in digital transformation and regulatory improvements are primarily responsible for this success. A key factor in this development has been the introduction of technology-focused programs like the Dubai PropTech Group and the Real Estate Innovation Incubator.
By establishing confidence in the industry, these actions have not only improved the real estate community but also promoted an elite investment climate. Dubai’s dedication to ongoing real estate practice improvement has been further emphasized by the enhancements made to digital services via platforms such as the Dubai REST interface, which offers smart real estate services.
However, Abu Dhabi has also advanced significantly, moving up four spots to take 41st place on the GRETI. This progress has been made possible by the Emirate’s aim on using artificial intelligence (AI) and property technology to grow its digital services.
Abu Dhabi’s attempts to maximize real estate operations through digital innovation are best demonstrated by the DARI platform, which comprises development and transaction databases in addition to sales and lease management. These advancements are in keeping with a wider trend in the UAE real estate markets toward more efficiency and openness.
The introduction of strong legislation related to beneficial ownership (BO) and anti-money laundering (AML) further shows the UAE’s commitment to improving real estate transparency. By making market data significantly more accessible to both established and emerging market providers, these actions have improved the transparency and dependability of the real estate ecosystem.
These advancements are largely related to the government’s focus on raising data transparency standards and digitization initiatives, which are in line with the larger goals of sustainable development and attracting foreign investment.
To sum up, the progress achieved by Dubai and Abu Dhabi in terms of openness in the real estate sector is evidence of the success of their strategic plans and regulatory changes. These cities are advancing market trust, promoting sustainable growth, and staying true to their goal of becoming the top real estate investment destinations worldwide by creating an atmosphere of transparency and simplicity.
Dubai and Abu Dhabi are well-positioned to create new standards for transparency and innovation in real estate on a global scale as they build on these achievements.
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