|
|
|
Real estate credit rating system is bound to bring in more transparency to Dubai real estate sector |
In order to get a clear cut picture on the realty industry players's performance, a leading Dubai Government-owned property developer has sought the creation of a real estate credit rating system. The system is bound to bring in more transparency to Dubai real estate sector.
Farhan Faraidooni, the Executive Chairman of Sama Dubai said: "Real estate is a safe long-term investment. A credit bureau will help the industry stakeholders behave and deliver better results. This would be something similar to the way the credit rating agencies rate a particular country or company with A, B, C, etc which indicates the strength of a country's economy or company's financial position."
A credit-rating authority for the real estate and construction sectors are not common in the industry.
