A organisation to compile and share information on the property sector, called the Society of Property Researchers, will be established in Abu Dhabi by developer Al Dar Properties supported by the UK Society of Property Researchers.
The aim of the society, the first of its kind in the Middle East, will be to provide a forum for researchers to share views on both market developments and methodologies. In addition, it will seek to further the professional development of researchers in the region and to enhance the quality of data and other tools available to them.
John Bullough, CEO, Aldar Properties, said: "The dramatic transformation of the real estate market in the UAE through both construction and investment activity has driven demand for high quality research that has been difficult to satisfy so far, often as a result of market practices and conditions. We are delighted to support the creation of the society here in the Middle East and encourage all interested parties to take an active role."
Charlie Acworth, Director of Research at Aldar, said: "This society could not have come at a better time with real estate research currently high on the agenda given the global economic downturn, which is having a negative impact on the sector. The society represents an opportunity for researchers to contribute to the development of an increasingly professional, analytical and thoughtful approach to real estate research and investment."
A representative of the UK Society of Property Researchers said: "One of the objectives of the UK Society of Property Researchers is to encourage the development of sister societies around the world. The establishment of the Middle East chapter is a welcome development that should contribute to the evolution of the real estate industry in the region. We will endeavour to support the members of the group."