Out of the box

Dubai's most transparent real estate market.. How do we read this classification

Ismail Al Hammadi

August 09 2022

When you read in a global report that the Dubai real estate market enters the category of the most transparent markets in the Middle East and North Africa, and this is for the first time in its history, and it is the only market that achieves this classification in the region, and is ranked 31 globally, how do you read this classification?

Or rather, what comes to your mind about this market?

What the market has reached and what it has achieved was not by chance, and it did not happen overnight. Rather, it is the result of efforts that have been made since the beginning of the establishment of this market and its entry into the field of global competition.

Over the past years, the real estate sector has gone through several turns, to say the least, they are dangerous, starting with the global economic crisis of 2008, through the various turmoil that swept the region, especially the Arab world, to the global health crisis “Covid-19”, and then the current Russian-Ukrainian war that overturned the scales of the five continents.

During each of those phases, the real estate sector in Dubai faced a number of challenges, and thanks to these challenges, the decision makers, and the real estate scene makers in general, did not hesitate to find appropriate solutions to overcome them.

With the accumulation of these solutions, they became basic pillars to drive the growth locomotive in the sector, and the result achieved from all these crises and challenges was the creation of a real estate market with a solid base, attracting the attention of investors from different countries of the world.

The secret is to create an integrated picture between the various economic sectors and link them to the real estate sector.

Dubai has succeeded in improving the living and working environment for individuals and companies and its tourism, investment, health, educational, commercial, legislative and entertainment environment.

What is now required of the real estate scene makers in Dubai with their various categories, classifications and positions, in all real estate fields and activities, is to maintain that result, and to take into account every small and big thing in the sector that may affect the transparency of the market.

What has been achieved so far is an opportunity to enhance the status of Dubai real estate globally, and there is no way to retreat from that, so the responsibility today is great and heavy, and it will be borne only by those who actively contributed to the result achieved by the sector today, and who understands the value and reality of this result.

• "What has been achieved so far is an opportunity to enhance the position of Dubai real estate globally, and there is no way to retreat from that."

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