A fully functioning and well regulated real estate market is essential to ensure sustainable housing and promote economic growth. It can accelerate economic recovery in the short term, as well as sustainable development and greener economies in the long term. Promoting the sector is a driving force in the provision of economic, environmental and social benefits
At the conference, “Towards a Sustainable Real Estate Market – Real Estate Registration, Investment, Regulation and Capacity Building” organized by Dubai Real Estate Institute, an educational branch of Dubai Land Department, governments and real estate professionals from throughout the Middle East discussed how to develop sustainable real estate policies in Dubai and beyond.
UNECE Executive Secretary Sven Alkalaj presented UNECE’s work in support of housing, land management and real estate markets throughout the Pan-European region.Government norms and regulations have a role in controlling and legally protecting the rights of possession and use of real estate. Furthermore, they provide the foundations to develop efficient real estate markets. It is important to encourage the development of an integrated legal system, harmonized with the international and regional norms, and it is also necessary to have unambiguous financial rules. These measures will facilitate investments, he said.
The UNECE delegation also included the Chair of the UNECE Working Party on Land Administration Elshad Khanalibayli, and Vice-Chair of the UNECE Real Estate Market Advisory Group Enrico Campagnoli.
UNECE intergovernmental and advisory bodies on these topics, including the Committee on Housing and Land Management, Working Party on Land Administration, and Real Estate Market Advisory Group, do not yet have analogs in other United Nations regional commissions, including in that working in the Middle East.
Mahmoud El Burai, Managing Director of Dubai Real Estate Institute, stressed that Dubai authorities intend to establish a strategic cooperation with UNECE in order to learn from its experience to build and strengthen their own intergovernmental institutions for sustainable land and property management.
After the conference, Mr. Alkalaj met H.E. Sheikh Mohamad Bin Khalifa Almaktoum, Chair of Dubai Land Department, with whom he discussed possible cooperative activities on land and property administration and management.
For more information, please visit: www.unece.org/hlm/welcome.html
Housing and Land Management Unit
Note to editors
Committee on Housing and Land Management
The Committee on Housing and Land Management, established in 1947 to provide support to governments in the post-war reconstruction of the housing stock in Europe, is one of the oldest Committees of the UNECE. It is the only body in the region where policies for housing, urban management and land administration are discussed at an intergovernmental level. The Committee’s work is supported by the Working Party on Land Administration, which specifically deals with issues related to land management and real estate markets and by the Real Estate Market Advisory Group, which provides a private sector perspective.
United Nations Economic Commission for Europe
Palais des Nations,
CH-1211 Geneva 10, Switzerland
Tel.: +41 (0) 22 917 44 44
Fax: +41 (0) 22 917 05 05
Reproduction is permitted provided that the source is acknowledged.