DUBAI: The real estate sector in Dubai has been named the most transparent in the Middle East and North Africa region, according to JLL’s latest Global Real Estate Transparency Index, also known as GRETI.
This is for the first time that Dubai’s real estate sector is entering the transparent tier, and is the only city in the region to enter the list.
“The government’s ongoing efforts that are driving digital services and data provisions, new regulations and sustainability reporting have helped advance Dubai’s ranking in this year’s Global Real Estate Transparency Index, which is an important guide used for cross-border investment and corporate occupiers to inform their decision making,” said Sultan Butti bin Mejren, director general of Dubai Land Department.
In the overall global list, Dubai is placed 31st on the overall global list, while Saudi Arabia ranked 49th, which indicates a semi-transparent market.
“The Kingdom scored particularly well in the category of Listed Vehicles’ Corporate Governance transparency. KSA also scored well on its Investment Performance transparency,” said JLL in a statement.
Abu Dhabi which ranked 45th globally gained one rank and maintained its position in the “Semi-Transparent” tier.
The UK ranked first in the list of 99 countries, followed by the US, France, Australia, Canada, the Netherlands, Ireland, Sweden, Germany, and New Zealand.
China is placed 30th on the list, while India is on the 36th spot.
According to the report, ranks until 34 come under the transparent tier, while 35th to 56th are considered semi-transparent.