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Officials at the JLL Jeddah housing index launch.

JLL to launch new housing index for Jeddah

JEDDAH, February 15, 2016

Leading real estate expert JLL has signed an agreement with the Jeddah Chamber of Commerce and Industry (JCCI) to jointly launch a new housing index for the city.
 
The ‘JLL-JCCI Jeddah Housing Index’ is intended to collect, consolidate and share data on the housing market in Jeddah, thus bringing considerable transparency for investors and other participants in the city’s residential market.

In addition to enhancing transparency, the index will improve the quality of information available by collating information from major developers and other sources.

Using the latest information technology, JLL will design an online questionnaire as part of its research methodology, and utilise other online resources to ensure the integrity of the data, said a statement from JLL.

The first set of results will be published in JLL’s second quarter report on the Jeddah real estate market which will be out later this year.   

In 2015, the property expert had signed a separate deal with JCCI to collect and share data on Jeddah’s retail real estate sector.

Zyad Al Bassam, the vice chairman of Jeddah Chamber of Commerce, said: "The JLL-JCCI Housing Index will be a valuable resource for private sector investors as it will provide strategic insight which is not currently available."

"There will be a greater volume of high quality and trustworthy information available as a result of our combined expertise. Overall, the index can contribute towards making the city’s housing market more attractive to public and private investors," he added.

Jamil Ghaznawi, the national director and country head of JLL (Saudi Arabia), said: "It is a privilege to once again partner with the JCCI, this time in bringing greater clarity to Jeddah’s residential market. We are especially proud of the use of technology to enhance data collection and analysis, which is surely a first in the kingdom’s fast evolving real estate sector."

JCCI chief Khalid Bashwayer said: "This MoU highlights a fantastic initiative by JLL as it will allow us to make significant progress in improving the overall transparency of Jeddah’s residential market."

"The housing index also promises to provide better information for investors and the general public as it will provide data that is much more accurate and comprehensive," he added.-TradeArabia News Service




Tags: Jeddah | JLL | housing index |

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