Dubai one of the world’s safest property investment destinations
Dubai named among the world’s top five improvers in JLL’s highly respected 2024 Global Real Estate Transparency Index
Already recognised among the world’s top real estate investment destinations for 2024, Dubai has consolidated its reputation as one of the safest cities to invest in, with the emirate securing a position among the top five improvers worldwide in this year’s Global Real Estate Transparency Index (GRETI), published by JLL.
The report, which assesses investment hotspots based on their level of regulatory protections afforded to investors, praised Dubai for its advancements in digital infrastructure, its implementation of robust anti-money laundering (AML) and beneficial ownership (BO) regulations, and the expanded availability of market data for individual and institutional investors.
Dubai rose one spot to rank 28th globally in the report, maintaining its status as the only real estate market in the Middle East and North Africa (MENA) to be classified as "transparent" by JLL.
Dubai’s commitment to boosting transparency, particularly through its expansion of digital services, has attracted global investors seeking secure and stable opportunities.
Commenting on the result, Marwan Ahmed bin Ghalita, director general of the Dubai Land Department (DLD), said: “Dubai’s progress in the 2024 Global Real Estate Transparency Index demonstrates our commitment to building an innovative and reliable real estate ecosystem. Clear, open practices attract global investments, enhance market trust, and support sustainable development.”
Digital services boost Dubai’s reputation for transparency
According to JLL, Dubai’s digital transformation has been spearheaded by the Dubai REST interface – a smart platform for real estate services – which has helped transform and streamline the city’s property investment market.
Through this platform, investors gain real-time access to land records and property data, alongside helpful regulatory insights, significantly reducing the time and effort required for due diligence.
The platform’s integration of advanced digital tools underscores Dubai’s commitment to upholding global best practices and providing investors with unparalleled access to critical market information.
Other notable initiatives, such as Dubai’s Real Estate Innovation Incubator and the Dubai PropTech Group, are helping to foster innovation and promote digitalisation in the city’s property market.
JLL notes that these types of initiatives further boost investor confidence, as they contribute to a more transparent, efficient, and forward-thinking regulatory environment.
World-class regulatory frameworks
Dubai’s regulatory framework has made it one of the safest destinations for international property investors.
The UAE has been at the forefront of implementing stringent AML and BO regulations, ensuring that property transactions in Dubai are both transparent and safeguarded against illicit activity.
The widespread adoption of these regulations across the region underscores Dubai’s leadership in setting regulatory standards that not only meet but often exceed global benchmarks.
This proactive approach has further solidified investor confidence, according to JLL.
Dubai’s commitment to sustainability lures investors
Sustainability transparency is another critical driver of real estate investments worldwide, according to JLL, and Dubai is leading the way in the region in this respect.
The city's increasing focus on reducing its carbon footprint, improving building energy efficiency, and promoting sustainable urban development resonates with investors looking to future-proof their portfolios.
The emirate has established itself as a pioneer in integrating environmental, social, and governance (ESG) standards into its real estate market, making it a regional leader in green building initiatives.
This not only enhances the market’s transparency but also adds another layer of appeal for investors focused on sustainable development.
James Allan, CEO of JLL Middle East and Africa noted that 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.”
Ultimately, Dubai’s performance in JLL’s 2024 Index is testament to its efforts to establish itself as one of the world’s safest real estate investment destinations.
For global investors, Dubai is fast becoming a preferred destination that offers a solid foundation for future growth.