Index will allow investors to monitor commercial market performance when making investment decisions
The Dubai Land Department (DLD) has inked a deal with Jones Lang LaSalle (JLL) to create a ‘Commercial Property Price Index’ (CPPI). The move aims to improve Dubai’s transparency and real estate investment health.
According to a statement, the collaboration 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. It will allow investors to monitor commercial market performance when making investment decisions and portfolio management.
Majida Ali Rashid, CEO of the Real Estate Promotion and Investment Management Sector at DLD said, “It 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 new 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.”
She noted that 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 attract investment, as well as supports the strategic real estate objectives of the government, she said.
Thierry Delvaux, CEO of JLL (Middle East and Africa) stated that the agreement with DLD allows the firms to improve real estate transparency, in turn attracting local, regional, and global institutional investors into the market.
He concluded, “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 new index.”