Dubai, Abu Dhabi Among Top Improvers In Real Estate Transparency Globally: Report

The UAE's Dubai and Abu Dhabi have secured a place among the top 5 improvers in the transparency score globally, according to JLL's 2024 Global Real Estate Transparency Index (GRETI).

Dubai was in the third spot, and Abu Dhabi secured the fifth position. Both emirates were recognized as top global improvers for advancing digital capabilities, implementing strong anti-money laundering (AML) and beneficial ownership (BO) regulations, and increasing market data availability for both established and new market players, WAM reported.

In the 2024 edition, Dubai moved up one spot to 28th place and remains the only property market in the Middle East and North Africa (MENA) that has featured in the "Transparent" tier.

Dubai's improvements in real estate include upgrades to digital services through the Dubai REST interface, a smart platform for real estate services and better access to land information and urban planning systems. These changes highlight the Emirate's dedication to continuous enhancement of real estate practices.

Marwan Ahmed bin Ghalita, Director-General of Dubai Land Department, said, "Dubai's progress in the 2024 Global Real Estate Transparency Index demonstrates our commitment to building an innovative and reliable real estate ecosystem."

"Clear, open practices attract global investments, enhance market trust, and support sustainable development, aligning with Dubai's vision as a leading global destination for real estate," he added.

Under Dubai's Economic Agenda D33, the city is pushing digital transformation and setting high standards to stay leading in the global real estate market, as per Ahmed bin Ghalita.

Abu Dhabi moved up four places to 41st on the index, now at the "Semi-transparent" level. The emirate has used PropTech and AI to improve its digital services and real estate operations through its DARI platform, which covers sales and lease management, as well as development and transaction databases.

James Allan, CEO of JLL Middle East and Africa (MEA), said that Dubai's progress in the 2024 Global Real Estate Transparency Index and Abu Dhabi's significant improvements show a growing trend toward more transparency and efficiency in the UAE's real estate markets.

He highlighted that the UAE is becoming a tech and innovation leader in the MENA region. By focusing on sustainability, the UAE is creating an investment-friendly environment that supports major urban development projects.