Dubai Commercial Property Price Index launched by DLD and JLL
The Dubai Land Department (DLD) and Jones Lang Salle (JLL) have launched what is billed as the first-ever ‘Dubai Commercial Property Price Index’ (CPPI). The index follows a memorandum of understanding (MoU) signed in 2020 and was launched by Majida Ali Rashid, CEO of the Real Estate Promotion and Investment Management Sector at DLD, and Thierry Delvaux, CEO of JLL Middle East, Africa and Turkey.
According to a statement, the CPPI is the sole commercial price index in Dubai and will act as a reliable source of data for use by investors, agencies, and institutions. In addition, it will allow investors to monitor commercial market performance when making investment decisions and portfolio management.
“At DLD, we are constantly keen to develop tools that will enhance the trust of customers, investors and those interested in the real estate sector and market in the emirate, in line with our vision of providing high-value insights to investors and companies alike and enhancing the attractiveness of real estate investment in the emirate. CPPI will constitute an added value to Dubai’s real estate sector, and we look forward to cooperating with JLL to enhance trust and transparency through the index, which, in turn, contributes to enabling and enhancing the real estate investment environment in the emirate,” said Rashid.
Delvaux added, “We are thrilled to be launching the index that we had announced with DLD last year. It represents a strong move towards improving real estate transparency and will play a huge role in further attracting local, regional and global institutional investors to the region.”
The index will be issued on a quarterly basis in both English and Arabic and will be a key benchmark for analysing the performance of commercial real estate in Dubai, the statement concluded.