JLL have recognised Dubai and Abu Dhabi as two of the world’s most improved markets in real estate transparency. According to the 2024 Global Real Estate Transparency Index (GRETI) by JLL, both cities secured top spots in global rankings. Dubai ranked third, and Abu Dhabi claimed the fifth spot for improvements made between 2022 and 2024.
Their efforts to improve transparency include strengthening digital tools, implementing anti-money laundering (AML) measures, and enhancing data availability for real estate market providers. These initiatives have made both cities global leaders in real estate transparency.
DUBAI’S REAL ESTATE TRANSPARENCY GAINS
Dubai is now ranked as the 28th most transparent market in the world. It is the only city in the Middle East and North Africa (MENA) region in the "Transparent" tier of the GRETI. This rise in transparency is due to various government initiatives. These programs aim to strengthen the real estate sector and keep it competitive.
A major factor in Dubai’s success is its focus on digital innovation. Initiatives like the Real Estate Innovation Incubator and Dubai PropTech Group have played a big role. They have given investors and developers the tools they need. As a result, trust in the market has grown, making Dubai a top investment spot.
Dubai has also improved its digital services. Platforms like Dubai REST provide smart real estate solutions. This platform offers access to land information and urban planning systems. These changes show Dubai’s dedication to transparency and innovation.
Eng. Marwan Ahmed bin Ghalita, Director General of the Dubai Land Department, highlighted the impact of these improvements. He highlighted how open and transparent practices attract global investment. These efforts help Dubai stay a leader in the real estate market.
Dubai is now ranked as the 28th most transparent real estate market in the world, the most transparent in the MENA region, and only market in the MENA region in the "Transparent" tier of the GRETI.
ABU DHABI’S PROGRESS IN REAL ESTATE TRANSPARENCY
Abu Dhabi has made major strides in real estate transparency, moving up four spots to rank 41st globally. The city is now part of the "Semi-transparent" tier in the GRETI rankings. It has focused on using technology, especially through its PropTech initiatives, to improve real estate operations.
The DARI platform plays a key role in this progress. It offers digital services for managing sales and leases, as well as databases for development and transactions. These advancements have made the real estate process faster and more transparent for both investors and developers.
James Allan, CEO of JLL Middle East and Africa, noted that Dubai and Abu Dhabi are seeing increased transparency across the UAE real estate market. He emphasised that technology is transforming the sector and boosting trust among investors.
Abu Dhabi rose 4 spots in JLL's 2024 Global Real Estate Transparency Index (GRETI)
THE ROLE OF TECHNOLOGY IN REAL ESTATE TRANSPARENCY
One of the key factors driving the rise of UAE real estate transparency is the embrace of technology. Both Dubai and Abu Dhabi have made big investments in PropTech, artificial intelligence (AI), and other digital solutions to improve transparency and streamline real estate operations.
AI, in particular, offers a significant competitive edge in the real estate market. It boosts productivity and makes processes clearer. This helps developers and investors make better decisions. But some people worry about risks, like price-fixing and anti-competitive behaviour. Even with these concerns, AI improves transparency in real estate.
DUBAI & ABU DHABI: STRONG LONG-TERM REAL ESTATE PROSPECTS
Dubai and Abu Dhabi are leading the UAE in real estate transparency. They offer strong, long-term opportunities for investors. As the MENA region grows, transparency will become more important for shaping the real estate market.
Both cities are now ahead of other markets. They are ready to lead going into the future. Dubai focuses on transparency, digital transformation, and investor-friendly policies, making it a key player in the global market. While Abu Dhabi is focusing on tech advancements and a commitment to transparency. This way its aims are set on becoming a top choice for investors seeking stable, long-term returns.
GLOBAL REAL ESTATE TRANSPARENCY LEADERS
While Dubai and Abu Dhabi have made remarkable progress, the world’s most transparent real estate markets still include countries such as:
- United Kingdom
- France
- United States
- Australia
- Canada
- Netherlands
- New Zealand
- Ireland
- Sweden
- Germany
These countries have consistently ranked high in global transparency indices. This is due to their commitment to open practices, strong regulatory frameworks, and advanced digital systems.
A PROMISING FUTURE FOR UAE REAL ESTATE
Dubai and Abu Dhabi have increased in the real estate transparency rankings by focusing on innovation and technology. Their investor-friendly practices also contribute to this progress. As they keep improving, both cities are gaining global attention and becoming top investment destinations.
With strong government initiatives, enhanced digital platforms, and increased transparency, Dubai and Abu Dhabi are set to lead the MENA region into the next phase of urban development. Investors, developers, and stakeholders can look to these cities for stable and long-term opportunities in a growing real estate landscape.
