The real estate market of Abu Dhabi has been recognised as one of the top global improvers in 2022 in the latest Global Real Estate Transparency Index (GRETI) by JLL International.
The report, published by the world's leading real estate advisory firm, JLL, measured transparency in 156 cities in 94 countries. The index is an essential tool in international real estate investment decisions for investors, developers, and individuals.
In its 12th edition, the report indicates Abu Dhabi's enhanced transparency in the real estate sector, further strengthening its position as the market with the most improved transparency. Since 2020, the emirate has improved from 48th to 45th overall and among the top improvers globally.
The government initiatives implemented to improve corporate and real estate sustainability, including regulatory changes, digitization of services and enhanced data availability, are directly responsible for Abu Dhabi's improved rankings.
The Department of Municipalities and Transport (DMT) released its first code of ethics covering real estate professionals in 2021. Additionally, new property market sectors have benefited from the increased provision of data by private providers and launching a new framework to improve oversight of real estate lending.
Furthermore, Abu Dhabi's improved position in the index can be attributed to the expansion of digital services including sales and lease management, development, transaction databases and many more.
His Excellency Dr. Adeeb Al-Afifi, Executive Director of the Real Estate Sector at the Department of Municipalities and Transport, said: "This report reflects the department's efforts to achieve sustainable and balanced growth in the real estate sector. Additionally, it advances the leadership's vision of making Abu Dhabi one of the world's top investment destinations.
"Residents and guests of the emirate will benefit from enhanced stability and liveability by developing communities with integrated services and infrastructure."
The Abu Dhabi index improved from 3.1 points to 2.98 points due to the improvement in the real estate market performance on the governance criterion by up to 1.92 points, innovation-led technologies, digitization, transactions processes and sustainability .