Reports related to investors and international rating agencies launched at the forum
Dubai Land Department (DLD) recently organised the ‘Dubai Real Estate Sector Profile’ forum to announce the results of real estate performance over the past years, and the role of data in enhancing the transparency of the real estate sector.
The forum included the launch of the ‘Deraya’ report and the annual performance report of real estate sector 2018, in the presence of Sultan Butti Bin Mejren, Director General of DLD; Majida Ali Rashid, CEO of the Real Estate Promotion and Investment Management Sector at DLD; Younis Al Nasser, Assistant Director-General at Dubai Smart Office and CEO of Dubai Data Establishment.
One of the forum’s most important announcements was the ‘Deraya’ report, initiated by the Department of Real Estates Studies & Research of the Real Estate Promotion and Investment Management Sector at DLD, in collaboration with Jones Lang LaSalle (JLL) and Cavendish Maxwell, and the annual report of the real estate sector performance 2018.
These reports contribute to enhancing Dubai’s real estate market, positioning it as the world’s leading real estate market. According to the JLL Global Real Estate Transparency Index 2018, Dubai was among the top three global cities regarding real estate market transparency.
“These reports provide a key database for media, investors and international classification agencies to access insights on the performance of Dubai’s real estate market with complete transparency,” remarked Bin Mejren.
“The launch of Deraya, our joint research initiative, is part of our collaborations with real estate consultancy companies and experts in the field of real estate studies. The initiative encapsulates all relevant topics to promote DLD’s role in the sector, achieve best results, and create a loyal customer base built on trust and quality of service,” commented Majida Ali Ali. Rashid.
The event featured a presentation by Younus Al Nasser, CEO of Dubai Data Establishment, on the experience of Dubai Data Establishment, the world’s most comprehensive and ambitious data initiative. Al Nasser highlighted the importance of data availability to elevate the ranking of Dubai’s real estate sector on global transparency and competitiveness indexes. Al Nasser also explained that launching the reports represents a significant stride in offering further sustainability and transparency.
“Dubai is the most transparent real estate market in the MENA region, and this helps explain the high level of investment attracted relative to other cities in the region,” said Thierry Delvaux, CEO, JLL MENA.
“Institutional investors made over 15,600 transactions in the Dubai market in 2017, with a combined value of just over AED 100 billion. This sector of the market has consistently grown in value each year since 2013 with transactions by institutional investors totalling around AED 85 billion,” noted Delvaux.
The ‘Deraya Report’ comprises two main parts. The first offers analyses of institutional investments based on volume, procedure, type, trends, favoured locations, investment types, and state of a property. It also details investments by type of institution, revealing that banks and private companies are the top institutional purchasers of real estate in Dubai, while also reviewing mortgage financing for entities and individual investors.
The second part explores the types and sizes of investments made by individuals and classifies investments according to investor nationality and gender. It also provides an analysis of individual investments in off-plan and completed properties, and ranks them according to real estate mortgages and sales.
