Another feather in UAE’s cap as Dubai and Abu Dhabi both have made significant progress in global real estate market transparency, according to JLL’s 2024 Global Real Estate Transparency Index (GRETI).
Dubai has been ranked 3rd and Abu Dhabi 5th for their significant advancements from 2022 to 2024, securing positions among the top global improvers.
Both cities have been recognized for their notable progress in scaling digital capabilities, implementing strong anti-money laundering and beneficial ownership regulations, and enhancing the availability of market data for both established and emerging market providers, state news agency WAM said.
Dubai’s commitment to continuous improvement in real estate practices is demonstrated through enhancements to digital services via the Dubai REST interface, the smart real estate platform, and expanded access to land information and urban planning systems. In this year’s GRETI, Dubai reached the 28th position and is the only property market in MENA to feature in the “Transparent” tier.
Meanwhile, Abu Dhabi placed 41st on the global index, advancing four spots from 2022 in the “Semi-transparent” level. By employing PropTech and AI, the emirate has advanced its digital services and optimized real estate functions through the DARI platform, which features comprehensive tools for sales, lease management, and development and transaction data.
“Dubai’s continued advancement in the 2024 edition of the Global Real Estate Transparency Index and the significant improvements made by Abu Dhabi reflect a broader trend towards greater transparency and efficiency in real estate markets across the UAE,” said James Allan, chief executive officer of JLL Middle East and Africa.
“The UAE has positioned itself as a tech and innovation leader in the MENA region, and by ramping up commitments to sustainability, it is creating a conducive investment environment that supports transformative urban development projects,” he said.
