Sustainable Real Estate Trends in the Middle East Region
Top Two Most Transparent Markets in the Middle East
The more transparent a country is the better chance for foreign investment. Dubai is still the most transparent city in the Middle East, which creates a hot market for investors. Dubai has a new Open Data Law, which promotes sharing data – that is non-confidential, of course – between the government and private agencies. Additionally, the Dubai Land Development has new measures to help investors access quality real estate data, making it easier for the investors to create sustainable developments.
Standard residential leases have also helped with transparent and sustainable real estate transactions. Finally, Dubai has several green building regulations to help minimize the use of fuel and to help investors remain stable.
Saudi Arabia has become the next most transparent market in the Middle East. The country's open data platform has helped with registering property transactions with the Ministry of Justice, and then those transactions are shared on the Ministry's public website.
With the new transparency, international developers are more willing to invest their money in the Middle East, making the area one of the better places to create residential and commercial developments.
Other Nations in the Middle East
Other nations are also becoming more transparent in real estate transactions. Egypt continues to improve, making it easier for investors, thanks to the newer politics in the region, including requiring registering property title and showing how government housing is allocated.
Iran and Kuwait moved ahead of Iraq and Pakistan in the transparency, making these countries' real estate markets more attainable and easier to make profitable deals. In 2018, investors may do well to choose some of these countries for their investments since it is expected that the real estate market – and profits associated with the market – will continue to improve, due to the increasing popularity of using REITs and the increase in more transparent transactions.
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