Sustainability is the new marker of a highly transparent real estate market, says JLL.
At a briefing in Dubai this week, the real estate adviser said transparency relating to regulations, standards, and metrics to deliver sustainable, low-carbon, and resilient buildings would be essential for real estate markets around the world.
Thierry Delvaux, CEO, Middle East, Africa and Turkey at JLL, said: “It is timely that we are holding this event prior to Egypt hosting the COP27 climate talks. It has become acutely apparent that if cities and nations are going to progress up the scale of transparency in the real estate sector, there needs to be tangible sustainability action.”
JLL’s Global Real Estate Transparency Index, published earlier this year, highlights new markers of sustainability, such as net zero carbon frameworks, climate risk disclosure and emissions tracking, which will deliver a high transparency score for a real estate market.
In the latest index, which measures real estate market transparency in nations around the world, Dubai moved into the “Transparent” tier for the first time. Improving transparency in sustainability would help it move to the “Highly Transparent” tier, JLL said.