The UAE real estate market is considered the most transparent in the Middle East and North Africa region

The real estate markets of Dubai and Abu Dhabi are considered the most transparent in the MENA countries, according to the world real estate market transparency index (GRETI) by JLL. The data was collected from a survey conducted in 156 cities and 94 countries.

Abu Dhabi gained the status of “Semi-transparent” due to the creation of the Dari digital platform which presents transaction databases and rental and sales management features. In addition, first rules of ethics regarding the professions in the real estate sector were revealed by the Abu Dhabi Department of Municipalities and Transport (DMT).

Dubai's success in the transparency rankings is driven by improved digital services, new rules relating to beneficial ownership tracking and market lending practices. Also, it includes market data provision such as real estate transaction databases.

Sultan Butti bin Mejren, CEO of the Dubai Land Department, reported that the government's continued efforts to provide digital services, data and new regulations have helped Dubai rise in the rankings.

Source: Gulf Business