Mubasher: Dubai was placed among the world’s top destinations for foreign direct investment (FDI) in the real estate market across the world.
In a new report by JLL, the Investment management company, Dubai marked a continuous progress in improving real estate transparency; the UAE city has witnessed high levels of foreign investor activity in the last cycle.
Dubai has earned its place as the most transparent real estate market in the Middle East in JLL’s 2016 Global Real Estate Transparency Index (GRETI), being identified as a ‘Hybrid’ city due to several initiatives that aim at boosting transparency and witnessing a transformation in the quality of its commercial real estate market.
“Going by its definition, ‘Hybrid’ cities are medium-sized and compete in specialised markets, which benefit from access to large domestic markets. They are durable over the medium term and are among top real estate investment destinations, as seen in the case of Dubai. Such cities have a superior live-ability equation compared to their national and regional peers,” the JLL’s report clarified.
“Dubai and Abu Dhabi top the list of being termed Hybrid cities. They share characteristics, aspirations and priorities in terms of the specialisms that they nurture, the talent and businesses that they attract, and the style and quantity of real estate required,” the head of research at JLL MENA, Craig Plumb, said.
