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Dubai / Emirates Business
A new group of ‘Hybrid’ cities recorded by JLL as having clear attributes of either ‘Emerging World Cities’ or ‘New world Cities’, has placed Dubai among the world’s top destinations for FDI in the real estate market. In a new report by JLL titled, World Cities: Mapping the Pathways to Success, ’Hybrid’ cities are best epitomised by Dubai.
Dubai has been making progress in improving real estate transparency and as a result has witnessed high levels of foreign investor activity in the last cycle. Earning its position as the most transparent real estate market in the Middle East in JLL’s 2016 Global Real Estate Transparency Index (GRETI), Dubai has been termed as a ‘Hybrid’ city due to several initiatives to improve transparency and witnessing a transformation in the quality of its commercial real estate market.
Going by its definition, ‘Hybrid’ cities are medium-sized and compete in specialised markets, which benefit from access to large domestic markets.
They are durable over the medium term and are among top real estate investment destinations, as seen in the case of Dubai. Such cities have a superior live-ability equation compared to their national and regional peers.