Dubai is set to complete the appraisal for its new “star rating system” - which will be applicable to all buildings completed before 2010 - by the end of next year, said a report.

The rating system is set to play a key role in determining future rental rates of both both residential and commercial properties, reported the Gulf News, citing a senior Dubai Land Department official.

The properties and projects of more recent vintage already comply with a higher design and build code that entities such as the Land Department and Dubai Municipality have put in place, stated its director-general Sultan Butti Bin Mejren.

The work has already started on the Bur Dubai mapping, he noted.

"We have the tools to ensure sustainable development - the star rating and a green build code are all part of the process,” said Bin Mejren.

"The green rating we have is based on best practices taken from Leed (Leadership in Energy and Environmental Design), Prime and Green Mark certifications," he noted.

Dubai, he stated, has been raising the bar on the development side of things, with the announcement of plans for a construction index being the latest.

According to him, the next year will see a lot of growth in transactions across real estate categories. "Currently, real estate makes up more than 15 per cent of the emirate’s GDP," he added.