DLD has signed a memorandum of understanding with JLL, a leading professional services firm that specializes in real estate and investment management, to create a Commercial Property Price Index (CPPI) for Dubai. The agreement signed between Majida Ali Rashid, CEO of the Real Estate Promotion and Investment Management Sector at DLD, and Thierry Delvaux, CEO of JLL MEA, will result in the emergence of a reliable source of useful information for investors, agencies, and institutions. In addition to that, with the help of the index investors will be able to monitor commercial market performance when making investment decisions and portfolio management. The partnership of the entities will also facilitate the improvement of Dubai’s transparency and overall real estate investment health.
'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', said Majida Ali Rashid.
DLD already works as a regulating authority for land and property registration as well as protection of customers rights. On a global level this creates an environment that attracts investment and at the same time supports the strategic real estate objectives of the government.
Thierry Delvaux commented, '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.'