Proceedings of Annual Paris Economics, Finance and Business Conference
7 - 8 April 2016, Espace Vocation Haussmann, Paris, France
ISBN: 978-1-925488-04-3
Governance and Public Policy in the UAE Real Estate market: A
Search for Sustainability, Accountability and Transparency
Peter Oyelere* and Habib Mahama
We investigated the prevailing governance structure of the UAE real estate sector and
propose a globally benchmarked set of structures and mechanisms based on overarching
concepts of sustainability, accountability and transparency. Existing research suggest that
crisis in the real estate sector have significant impact on a country’s economy as a whole, as
it exposes banks and the sovereign wealth fund to asset write downs. We conducted the
research using a combination of archival and empirical research techniques, commencing
with a comprehensive tracing and documentation of the history of real estate development
and associated governance structures and practices in the UAE, including the key
milestones in its evolution and rise to prominence. This was followed by an in-depth
empirical study of the financial reporting practices, and corporate and governance structures
and mechanisms of key players in the UAE real estate sector. Our analysis of collected data
provided answers to some of the key research questions of the proposed study. From the
results, we established the prevailing practices in the sector, and generated outcomes that
will be of use to UAE policy makers in the areas of governance, accounting, market
performance, regulation, and real estate investor confidence and participation. We believe
these outcomes should make the UAE real estate sector better-prepared for future global
financial and economic shocks and crises.
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*Correspondence Details, Dr Peter Oyelere, Associate Professor, College of Business & Economics
PO Box 15551, Al Ain, UAE University, United Arab Emirates, Email: poyelere@uaeu.ac.ae