The index will allow investors to monitor commercial market performance
Dubai Land Department (DLD) has signed a memorandum of understanding (MoU) with Jones Lang LaSalle (JLL), a leading professional services firm that specializes in real estate and investment management, to create a ‘Commercial Property Price Index’ (CPPI).
Majida Ali Rashid, CEO, Real Estate Promotion and Investment Management Sector, DLD, signed the MoU with Thierry Delvaux, CEO, JLL MEA.
The agreement will see the establishment of an official commercial property index, which will act as a reliable source of data for use by investors, agencies, and institutions.
Additionally, the index will allow investors to monitor commercial market performance when making investment decisions and portfolio management. The partnership will see the two entities work towards continuing to improve Dubai’s transparency and overall real estate investment health.
“The Commercial Property Price Index will serve all relevant parties by granting them deeper insight into the industry while also allowing them to best manage their portfolio of properties,” commented Majida.
“The agreement with DLD will allow us to collaborate to improve real estate transparency, in turn attracting local, regional, and global institutional investors into the market,” remarked Delvaux.
