New Real Estate Database Strengthens Urban Planning Foundations

Abu Dhabi Urban Planning Council signs charter with 19 of the Emirate’s leading developers for enhanced data sharing on residential, commercial and retail project portfolios.

ABU DHABI, 12 October 2015: Abu Dhabi’s urban planners are undertaking the next phase of its data collection and information sharing strategy by creating a cutting-edge database of the capital’s real estate developments in a bid to further enhance future land management.

At a charter signing ceremony today, the Abu Dhabi Urban Planning Council (UPC) received formal commitments from 19 leading land developers to provide an even greater level of detail on their completed and ongoing projects, which builds on the existing data sharing agreements resulting from the strong working relationships the UPC has built with the Emirate’s many developers over the past eight years.

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.

From it they will be able to compile more detailed land use reports and projections, and provide frequent data updates to decision makers on the status of Abu Dhabi’s real estate sector to hone Abu Dhabi’s journey towards Vision 2030.

“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.

“Working with our partners in the real estate sector, the database will combine every aspect of development in the Emirate – shops, restaurants, hotels, apartments, villas, factories and more into one central data source,” he added.

At the signing ceremony at the Rosewood Hotel Abu Dhabi, real estate heavyweights including Aldar Properties, Mubadala Real Estate and Infrastructure, Al Qudra Holding, Masdar and National Investment Corporation signed a formal charter with the UPC agreeing to share more detailed and wide-ranging information on their portfolios.

In a typical example, a real estate company will list the basic details of a project, including its land area uses, start and completion date, construction status, land area and cost. More detailed information will then be required on how exactly the project is divided up between various uses, be they commercial, residential, retail or others.

For residential properties, developers will list the number of units they have already built, have under construction or are planning for the future. They will provide a breakdown of unit size, number of bedrooms, value per square metre, percentage of units sold, among other required details.

Hotel developers will disclose the star grading and construction status of their current and future stock, as well as the number of hotel apartments in their portfolio.

In the commercial sector, data will be required on the class of office built, planned or under construction, as well as its sales value, rent per square metre, and the type of occupant - be it a government body, private local firm, or international business.

Retail developers will break down their portfolio in terms of type – from a mega mall to a local convenience store – and occupant, for example local, regional or international brands.

Similar data is required for industrial space, such as a distinction between light and heavy manufacturing, warehouses and logistics, the unit sales price, the annual rent, and the percentage that has been sold, retained by the developer or remains empty.

The ceremony will also include a summary presentation of the UPC’s 2016–2020 Strategic Plan, with the database becoming a key source of data to inform decision-making over the coming years, which will feed into this Plan.

“Over the years, we have greatly valued the cooperation of our real estate partners in supplying us with information and this next phase in data collection will only strengthen our relationships,” said Al Ahbabi. “We are all working towards a common goal – to ensure Abu Dhabi’s long-term urban growth is sustainable, successful and benefits its residents. This database is a key component of that aim being realised.”

Ensuring developer satisfaction is one of the key objectives for the UPC. Creating an efficient and transparent data reporting and monitoring tool such as this will certainly complement the work processes of the developers to minimise reporting requests while ensuring maximum benefit for all stakeholders.”

The full list of charter signatories is: National Investment Corporation; Abu Dhabi Future Energy Company (Masdar); Abu Dhabi Ports; Abu Dhabi Airports; Aldar Properties PJSC; Al Qudra Holding; Mubadala Real Estate and Infrastructure; Tamouh Investments; Tourism Development and Investment Company; Manazel Real Estate; International Capital Trading; Bloom Properties; Reem Investments; Baniyas Investments & Developments; Bunya; Abu Dhabi Capital Group; ZonesCorp; Burooj Properties; Abu Dhabi National Exhibitions Company.