After the launch of the official residential index, Dubai quickly scaled up the Global Real Estate Transparency Index. In the MENA region, the property markets of Abu Dhabi and Dubai are the most transparent, as reported by JLL’s Global Real Estate Transparency Index.
These factors are crucial in determining the general Dubai real estate investment viability of a city and is evident despite the worries of over-supply and the major blow that the economy has gotten because of the COVID-19 crisis.
Dubai was recognized because of its geographical and economical appeal. The city climbed to 36th position, up from 33rd, previously. In partnership with the private sector, the Dubai Land Department created the official residential transaction-based index called Mo’asher, in 2019. This initiative is the main factor to Dubai’s ranking.
Mo’asher is a crucial step for the Emirate as this means the onset of a single index that all market participants will use. Abu Dhabi topped the list as the best performer in the world, showing a positive outlook of the country’s level of transparency and future investment projections.
Numerous initiatives were introduced. For instance, The Abu Dhabi Global Market (ADGM), which is a financial free zone, and the UAE Ministry of Climate Change and Environment to initiate and nurture sustainable policies in the country, also had a considerable impact on the ranking. The policies cover various aspects of investment and financial services to enhance socio-economic benefits.