Dubai: The UAE has enhanced its position in global real estate transparency, with Dubai and Abu Dhabi emerging as top regional performers in JLL’s 2024 Global Real Estate Transparency Index (GRETI). Ranking of both cities occupies among the top five global improvers, reflecting advancements in digital innovation, regulatory frameworks, and data accessibility.
Dubai attained the 28th position overall, putting forward one spot from the previous ranking, and remains the only property market in the Middle East and North Africa (MENA) to feature in the “Transparent” tier. Abu Dhabi also climbed to 41st place, improving four spots since 2022, now ranking in the “Semi-transparent” level.
This remarkable achievement in Dubai’s rankings underscores the impact of government initiatives aimed at enhancing market transparency. Key reforms include expanding digital capabilities through platforms such as the Dubai REST interface, implementing robust anti-money laundering (AML) measures, and improving access to urban planning and land information systems.
Marwan Ahmed bin Ghalita, Director-General of Dubai Land Department, commented that, “Dubai’s progress in the 2024 Global Real Estate Transparency Index showcases our commitment to building an innovative and reliable real estate ecosystem. Transparent and open practices foster global investment, build market confidence, and promote sustainable development, aligning with Dubai’s vision of becoming a premier global destination for real estate. In line with Dubai’s Economic Agenda D33, we are driving digital transformation and raising industry standards to ensure Dubai remains a leader in the global real estate market.”
The notable progress of Abu Dhabi has been driven by the implementation of PropTech and AI, particularly through its DARI platform, which streamlines real estate operations and enhances transaction transparency.
James Allan, CEO of JLL Middle East and Africa (MEA), remarked that, “The notable improvements made by Dubai and Abu Dhabi in the 2024 GRETI shine back the UAE’s broader efforts towards transparency and efficiency in the real estate sector. The UAE has stood itself as a tech and innovation leader in the MENA region, and by ramping up commitments to sustainability, it is creating a favorable investment environment that supports transformative urban development projects.”
The UAE’s advancements in real estate transparency are seen as vital to its long-term economic goals, including Dubai’s Economic Agenda D33, which seeks to enhance the city’s status as a global hub for real estate and investments.