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 ranked 3rd while Abu Dhabi 5th for improvements made between 2022 and 2024, driven by enhanced digital capabilities, strong anti-money laundering (AML) and beneficial ownership (BO) regulations, and increased availability of data for established and start-up market providers, said the report.
Dubai rose one spot to 28th on the 2024 index edition, where it has maintained its position as the only property market in the Middle East and North Africa (MENA) to feature in the ‘Transparent’ tier. Abu Dhabi advanced four spots from 2022 and remains in the ‘Semi-transparent’ category. The emirate ranked 41st on the index.
“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. 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” James Allan, CEO of JLL Middle East and Africa (MEA) stated.
The proprietary Global Real Estate Transparency Index (GRETI) which is published every two years by the leading global commercial real estate and investment management company, benchmarks market transparency to help inform how real estate is invested in, developed, and occupied in different regions around the globe. This year’s 13th edition includes 256 individual indicators to assess market transparency across 89 countries and territories and 151 cities globally.
The UK, France, US, Australia and Canada again lead the ranking, having dominated the five top spots globally for at least seven years.
