Dubai, Abu Dhabi rise in global real estate transparency index

The UAE has made significant gains in global real estate market transparency, with Dubai and Abu Dhabi ranked among the top five global improvers in the 2024 Global Real Estate Transparency Index (GRETI) released by JLL.

The report highlights the UAE’s advancements in digital capabilities, anti-money laundering regulations, and data availability, positioning the country as a regional leader in real estate transparency.

Dubai secured the 3rd spot globally for improvements made from 2022 to 2024, climbing one place to reach the 28th position overall on the index.

It remains the only property market in the Middle East and North Africa (MENA) region to be classified as “Transparent”.

This progress reflects the success of government initiatives to foster a robust real estate environment.

“Dubai’s progress in the 2024 Global Real Estate Transparency Index demonstrates our commitment to building an innovative and reliable real estate ecosystem,” said Marwan Ahmed bin Ghalita, director-general of Dubai Land Department. “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.”

Dubai’s advances have been driven by enhancements to digital services, including the Dubai REST interface, a smart real estate platform that provides access to land information and urban planning systems.

James Allan, CEO of JLL Middle East and Africa (MEA), commented on the UAE’s advancements: “Dubai’s continued improvement and Abu Dhabi’s significant gains reflect a broader trend toward greater transparency and efficiency in the UAE’s real estate markets. The UAE has positioned itself as a tech and innovation leader in the MENA region, creating a conducive investment environment that supports transformative urban development projects.”

Abu Dhabi shows notable progress in real estate index

Abu Dhabi also made progress, advancing four spots to rank 41st on the index. The UAE’s capital is recognised for leveraging proptech and AI to enhance its digital real estate services, including its DARI platform, which supports sales, lease management, and transaction tracking.

Abu Dhabi remains in the “Semi-transparent” category but has been acknowledged for its ongoing efforts to modernise and streamline real estate operations.

Read: UAE real estate: Over 30,000 residential units to be delivered by year’s end

Saudi Arabia gains ground in GRETI

In related news, Saudi Arabia has been recognised as one of the most improved markets worldwide in JLL’s GRETI report, securing the 38th spot globally.

This leap in transparency is the result of a strategic government approach, highlighted by key initiatives such as formalising the land registration system through the Real Estate Registry and making digitised data on sales, leases, and planning developments publicly available via the Real Estate General Authority (REGA).

The expansion of online services and increased data coverage from providers have further propelled this progress.

Tayseer bin Mohammed Al-Mufarrij, spokesperson for REGA, said: “Saudi Arabia’s ranking among the top 40 most transparent real estate markets globally, as reflected in JLL’s latest GRETI report, affirms the success of our comprehensive reforms.

“With over 18 new legislations, including revised real estate systems and regulatory frameworks, we are underscoring our firm dedication to Vision 2030. These measures, focused on enhancing transparency and boosting investor confidence, are pivotal to the Kingdom’s ongoing growth and economic diversification.”