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A new survey finds that while transparency has improved in the Mena region over the past two years, it remains one of the least transparent regions of the world.
Although transparency levels have improved in 80% of the Mena markets in the past two years, these gains have been relatively “modest” and real estate markets in the region remains less transparent than other global regions, according to Jones Lang LaSalle’s 2012 Global Real Estate Transparency Index.
Craig Plumb, Head of Research for Jones Lang LaSalle Mena, said more needs to be done to increase the level of transparency across the region, particularly with respect to investment performance indicators and data on market fundamentals. “The lack of progress on these areas in recent years has contributed to the low level of investment activity and the oversupply that is currently being experienced in some sectors of the market,” he said.