RERA senior director shares thoughts ahead of Global Focus Forum
A new global markets report form Jones Lang LaSalle predicts full year 2011 global real estate investment volumes to exceed the original projection of US$440 billion.
The rise will mean increased transparency and reliable market data are required to support the sharp increase in international transactions, according to the consultancy firm.
“Since RERA’s inception in 2007, transparency has been an urgent priority on RERA’s agenda and still continues to be,” Mahmoud Al Burai, real estate senior director for RERA and executive director of Dubai Real Estate Institute.
“Great work has been done to reach the most transparent real estate market in the MENA region, according to JLL transparency index 2008 and 2010. We firmly believe that a transparent market will attract investors and will help in restoring confidence and momentum in our market,” continued Al Burai, who will give a speech at the upcoming global real estate seminars to be held alongside CityScape Global next month.
“This is why RERA started its unique project, the “code of governance for real estate development industry”, to promote transparency and disclosure, investor protection, performance optimisation, and risk management practices in the industry. Once finished, the code will be the first of its kind worldwide and will give a massive push to enhance the transparency in Dubai’s real estate market. Our goal to be the most professional, transparent and secure market will continue with investors at the heart of it”
The Global Focus Forums will concentrate on key markets in the Middle East, providing in-depth analyses and proven strategies for succeeding in residential, industrial and logistics, hospitality and tourism, and occupier retention in the region.
A key focus session taking place is the Middle East Residential Outlook forum, which will concentrate on strategies for planning, developing, investing in and profiting from the growing residential market across the Middle East. As a key speaker in this particular forum, Christopher Sims, CEO of Bahrain-based Naseej, said, “This is a most timely opportunity to further the debate on the issues hindering the progress in addressing the affordable housing needs of the MENA region. I will be sharing with delegates the demand-driven, solutions-based approach that differentiates Naseej.”
Both learning and networking opportunities will address investment market fundamentals and growth strategies in global emerging markets. Topics will include examining the global economic outlook for 2012 and its impact on the international real estate market, developing an advanced mortgage market to drive Middle Eastern real estate, where is best place to invest, maximising the value of distressed investment in prime markets, and many other key matters that derive from the real estate market.