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Dubai Realty sector must rid itself of corruption PDF Print E-mail
Monday, 15 September 2008 07:55

Dubai: The real estate community in Dubai will have to do its bit to end corruption in the property sector, a top Dubai government official said, without elaborating how.

"Despite the improvement in transparency levels - Dubai's rank in an international real estate transparency index rose to 36 this year from 46 in 2006 - recent corruption allegations in the real estate sector demand that the business community ensure transparency, good governance and engage in anti-corruption practices.

Gathering

"This is the responsibility of every one of us," Hamad Bu Amim, director-general of the Dubai Chamber of Commerce and Industry, said. He was addressing a suhoor gathering of real estate professionals organised by the Dubai Property Society, the industry grouping under the Dubai Chamber, on Saturday.

Recent corruption scandals have rocked Dubai's red-hot property sector. A number of senior officials are under investigation, and market sources have hinted that more heads will roll.

Gulfnews: Realty sector must rid itself of corruption

 
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