Latest news with #GlobalRealEstateTransparencyIndex
Hi Dubai
12-02-2025
- Business
- Hi Dubai
DIFC Launches PropTech API to Boost Real Estate Transparency in Dubai
Dubai International Financial Centre (DIFC) has unveiled a pioneering technology solution that grants third-party access to real estate data, marking a significant step in positioning Dubai as a global PropTech hub. The newly launched API aligns with the Dubai Real Estate Sector Strategy 2033, which aims to attract international investors, enhance transparency, and drive real estate transactions. It also supports Dubai's Digital Strategy by integrating technology into everyday city life. Keyper, a leading PropTech company, is the first subscriber to the service, launching a digital platform that offers real-time insights into DIFC's real estate landscape. This platform enables investors, property owners, and tenants to evaluate opportunities with comprehensive data on property values, rental yields, and transaction histories. Alya Alzarouni, Chief Operating Officer at DIFC Authority, highlighted the initiative's role in strengthening Dubai's reputation as a technology and innovation hub. 'This new API solution provides real-time market trends, empowering investors with the data needed to make informed decisions,' she said. Omar Abu Innab, Co-Founder and CEO of Keyper, emphasized the collaboration's impact on transparency and market accessibility. 'By making DIFC's property data available, we're enabling smarter investment decisions and reinforcing Dubai's status as a tech-driven metropolis,' he noted. Key features of the DIFC-Keyper platform include: Real-time transactional data for market analysis. for market analysis. Property valuation insights for comparative investment decisions. for comparative investment decisions. Rental yield metrics for assessing income potential. for assessing income potential. Integrated property data for owners using Keyper's platform. The initiative comes as Dubai climbs JLL's Global Real Estate Transparency Index 2024, reaffirming its status as the MENA region's most transparent property market. News Source: Dubai Media Office
Arab News
28-01-2025
- Business
- Arab News
Abu Dhabi property deals up 24.2% in 2024 as foreign investment soars
JEDDAH: Abu Dhabi's real estate market experienced a 24.2 percent year-on-year growth in 2024, with a total of 28,249 transactions, driven by sustained demand, strategic projects, and a focus on market transparency, official data revealed. The Abu Dhabi Real Estate Center reported that the UAE capital saw a 10.45 percent increase in transaction value, reaching 96.2 billion dirhams ($26.19 billion) in 2024. The sector recorded 16,735 sales transactions valued at 58.5 billion dirhams and 11,514 mortgage deals worth 37.7 billion dirhams. The market's growth comes amid Abu Dhabi's ongoing efforts to develop a transparent property market aimed at attracting both local and global investors. This strategy helped the city secure a spot among the top five global improvers in the 2024 Global Real Estate Transparency Index, compiled by property consultancy JLL. This trend is part of a broader regional push, with property markets in Saudi Arabia, Qatar, and the UAE undergoing reforms to better cater to global investor needs. Saudi Arabia, for instance, recently announced that foreigners can now invest in Saudi-listed companies owning real estate in Makkah and Madinah, following a landmark decision by the Kingdom's Capital Market Authority. ADREC Acting Director Rashed Al-Omaira said Abu Dhabi's inclusion in the GRETI underscores its 'commitment to fostering transparency and trust within the sector.' 'The sustained growth of Abu Dhabi's real estate market over the past decade reflects a strategy that prioritizes market stability,' he added. ADREC also launched 38 new off-plan projects and completed 12 major developments in 2024, with the center adding that these projects were selected to offer a diverse range of options, designs, and price points, catering to a broad spectrum of investors. The market also saw a notable increase in foreign direct investment, which grew by 125 percent year on year, with the sector attracting over 7.86 billion dirhams in 2024. This investment came from 2,302 investors across 105 countries, including the US, the UK, and Kazakhstan, as well as Russia, France, and China. 'The surge in FDI highlights Abu Dhabi's adaptability and resilience in an evolving global economy. It is a testament to the emirate's forward-thinking policies, investment-friendly environment, and world-class infrastructure that ensure sustainable growth,' said Al-Omaira. This comes as real estate markets in other key UAE cities, including Dubai, Sharjah, and Ajman, saw significant transaction volume growth over the past year, driven by diverse investment opportunities and rising demand for various property types. Official data from the real estate authorities across the four emirates revealed that the total value of real estate transactions reached approximately 893 billion dirhams by the end of 2024, with more than 331,300 transactions recorded. Al-Omaira stated that ADREC is committed to strengthening Abu Dhabi's position as a global investment hub and a model for urban living. 'Our real estate sector is a cornerstone of the emirate's economic vision, driving sustainable development and enhancing quality of life for residents through innovative, high-quality projects,' he added.
Zawya
27-01-2025
- Business
- Zawya
Abu Dhabi Real Estate Centre records 24.2% growth in real estate transactions valued at AED96.2bln in 2024
Abu Dhabi, UAE: The Abu Dhabi Real Estate Centre (ADREC) has reported a 24.2 per cent increase in real estate transactions in 2024 compared to the previous year. The emirate's real estate market continues to demonstrate resilience and diversity, positioning itself as a premier destination for global investors. With a focus on catering to varied preferences, the sector has expanded its portfolio with a comprehensive range of unit sizes and investment options. This strategic approach resulted in 28,249 transactions in 2024, representing a 10.45 per cent surge in total value, reaching AED96.2 billion. The sector recorded 16,735 sales transactions valued at AED58.5 billion and 11,514 mortgage transactions worth AED37.7 billion. In 2024, Abu Dhabi launched 38 new real estate projects for off-plan sales, alongside the completion of 12 major developments. These projects were strategically selected for their diverse offerings, innovative designs and affordability, appealing to a broad spectrum of investors. Engineer Rashed Al Omaira, Acting Director General at ADREC, said: 'The sustained growth of Abu Dhabi's real estate market over the past decade reflects a strategy that prioritises market stability. 'Abu Dhabi's inclusion among the top five global improvers in the 2024 Global Real Estate Transparency Index (GRETI) by JLL underscores our commitment to fostering transparency and trust within the sector.' ADREC also reported a remarkable 125 per cent year-on-year increase in foreign direct investment (FDI), with the sector attracting over AED7.86 billion in 2024. Contributions came from 2,302 investors across 105 countries, including the United States, the United Kingdom, Kazakhstan, Russia, France and China. Al Omaira said: 'The surge in FDI highlights Abu Dhabi's adaptability and resilience in an evolving global economy. It is a testament to the emirate's forward-thinking policies, investment-friendly environment, and world-class infrastructure that ensure sustainable growth. 'At ADREC, we are committed to reinforcing Abu Dhabi's position as a global investment hub and a model for urban living. Our real estate sector is a cornerstone of the emirate's economic vision, driving sustainable development and enhancing quality of life for residents through innovative, high-quality projects.' With its strategic initiatives and unwavering focus on investor confidence, ADREC will continue to strengthen Abu Dhabi's standing as a preferred destination for property investments, offering unparalleled opportunities and long-term value. For media inquiries, please contact: Amer Rashed Albedwawi Email: Phone : +971 55 554 5571 Heba Al Haj Email: Phone: +971 50 933 6130 About The Abu Dhabi Real Estate Centre (ADREC) The Abu Dhabi Real Estate Centre (ADREC), launched by the Department of Municipalities and Transport in November 2023, aims to enhance Abu Dhabi's position as a global real estate hub and increase the sector's contribution to the non-oil economy. ADREC leads a significant transformation in Abu Dhabi's real estate sector, centred around four key pillars: Real Estate Strategy, Real Estate Promotion, Real Estate Regulation, and Real Estate Transactions Management. ADREC's focus is on advancing the sector's ecosystem while giving priority to the well-being of tenants, homeowners, developers, and investors. This involves streamlining processes and enhance regulatory frameworks, while utilising advanced technologies to provide sustainable and seamless services. Collaborating closely with all stakeholders, the centre aims to elevate development standards and overall liveability in Abu Dhabi. Moreover, ADREC focuses on innovation, exploring groundbreaking technologies. This comprehensive approach highlights ADREC's commitment to transparency, innovation, and collaboration, positioning Abu Dhabi as an attractive global destination.
