KHALEEJ TIMES, Sunday, Nov 22, 2020 | Rabi Al Thani 7, 1442
DLD and JLL to develop Commercial Property Price Index
Emirates:
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 in-vestment management, to create a
‘Commercial Property Price Index’ (CPPI).
Majida Ali Rashid, CEO of the Real Estate Promotion and Investment Management
Sector at DLD, signed the MoU on behalf of DLD while Thierry Delvaux, CEO of JLL
MEA, signed on behalf of JLL.
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.
Also, 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.
Majida 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 already provides a regulatory method for registering lands and properties
while also protecting the rights of customers. This provides, on a global level,
an environment that would at-tract investment as well as supports the strategic
real estate objectives of the government.
Thierry Delvaux said 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.
"Dubai already enjoys a prestigious position as one of the best investment
destinations in the region, thanks to its strategic location and
investment-stimulating environment. We look forward to further enhancing its
position through the creation of this Commercial Property Price Index.”
|