Dubai Land Department organises ‘Dubai Real Estate Sector Profile’ forum

DUBAI, (Pakistan Point News - 18th Dec, 2018) The Dubai Land Department, DLD, organised the "Dubai Real Estate Sector Profile" forum to announce the results of the real estate performance over the past years, and the role of data in enhancing the transparency of the sector.

The forum included the launch of the "Deraya" report and the annual performance report of the real estate sector 2018.

The "Deraya" report was initiated by the Department of Real Estates Studies and Research of the Real Estate Promotion and Investment Management Sector at the DLD, in collaboration with Jones Lang LaSalle Incorporated, 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.

Sultan Butti bin Mejren, Director-General of the DLD, said, "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. We seek to achieve some key objectives through these reports and highlight the role of the real estate sector and its close ties with other economic sectors. The reports underline the importance of the real estate sector as a productive element that supports all other economic sectors, reflecting positively on the real estate sector’s growing contributions to Dubai’s GDP.

"The current real estate sector enjoys several positive indicators that predict growth across many of its segments, supported by the annual report of the real estate sector and the 2018 Deraya report, which represents integrated strategic cooperation between the public and private sectors.

The reports are also a testament to Dubai’s status as one of the world’s top attractive investment destinations that ensures investors future high yields."

He added, "The reports offer a deeper insight into the performance of Dubai’s real estate sector in 2017, furthering the transparency level across the sector. They are aimed at increasing professionalism across Dubai’s real estate environment, consolidating the real estate information sources, and elevating DLD to become the leading real estate reference. The reports also work towards bolstering the attractiveness of Dubai’s real estate market, identifying market trends and needs, and providing real estate studies companies and real estate experts access to relevant data."

Majida Ali Rashid, CEO of the Real Estate Promotion and Investment Management Sector at the DLD, said, "We are proud to have cooperated with two of the world's leading companies, in line with our commitment to engage our partners and customers. 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."

In attendance were Younis Al Nasser, Assistant Director-General at Dubai Smart Office and CEO of Dubai Data Establishment, in addition to CEOs and senior officials at the DLD, a number of government agency representatives, and major developers including Emaar, Nakheel, Falconcity of Wonders, DAMAC Properties, Dubai Properties, and MAG Lifestyle Development, and others.