Dubai Land Dept MoU With JLL for Commercial Property Price Index
The Dubai Land Department (DLD) has signed a memorandum of understanding (MoU) with Jones Lang LaSalle (JLL), a leading professional services firm that specialises in real estate and investment management, to create a ‘Commercial Property Price Index’ (CPPI). 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. In addition, 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 transparency and the overall investment health of Dubai’s real estate. The deal was inked between the chief executive officer of the Real Estate Promotion and Investment Management Sector at DLD, Majida Ali Rashid, and the CEO of JLL MEA, Thierry Delvaux. Commenting on the deal, Ali Rashid, said: “This partnership with JLL consolidates our commitment to strengthening the real estate sector in Dubai, the emirate’s position as a real estate leader on a global scale, and DLD’s partnerships and relationships with the private sector. “DLD continuously introduces initiatives and products to help boost transparency in the industry to help in the decision-making of investors. 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.” DLD provides a regulatory method for registering lands and properties while also protecting the rights of customers. This aims to provide, on a global level, an environment that would attract investment as well as support the strategic real estate objectives of the government.
Tags : INTERNATIONAL commercial property Dubai Land Department Dubai’s real estate Jones Lang LaSalle (JLL)