The Abu Dhabi Urban Planning Council (UPC) has upgraded its data collection and information sharing strategy earlier this week. It has created a database of Abu Dhabi’s real estate developments in a bid to further enhance future land management.
At a charter organised on October 12, UPC signed a charter with 19 developers for enhanced data sharing on residential, commercial and retail project portfolios.
The developers are going to provide detailed information on their completed and ongoing projects, which builds on the existing data sharing agreements. This will in turn strengthen working relationships with the UPC.
The information will enable the UPC to build and oversee a comprehensive Real Estate Data Management database on Abu Dhabi’s commercial, retail, hospitality and residential supply and demand. This real-time information will be used to reconfirm the land use projections in the UPC’s plans, along with the many research reports that the UPC has been working on, to fine-tune the existing supply and demand data currently utilised.
“This is a key milestone for the Abu Dhabi real estate sector. The new database builds on the strong foundations for data collection already in place by deepening the level of data shared and the frequency of collection. Seeing 19 of the Emirate’s key developers work together is indicative that the real estate community understands the mutual benefit of collaboration,” said H.E. Falah Al Ahbabi, Director General, UPC.