CBRE, a leading property consulting firm, said it has signed an agreement with Dubai Land Department (DLD) for provision of research analysis of the DLD data for a period of two years.

The MoU is aimed at encouraging market transparency through the development of a number of tailored reports and studies that will boost knowledge of the emirate’s real estate sector at a local, regional, and global level.
 
As part of the partnership, CBRE said it will be delivering a range of services including research consultancy on the real estate market to provide evolving market trends and opportunities to support DLD’s strategic vision.

The research provided by CBRE will enable the Dubai government to produce important thought leadership campaigns on the emirate’s real estate sector to guide developers, investors, and end-users on the evolution of the market.

The agreement directly involves CBRE in the decision-making process by empowering the real estate consultancy firm to provide advisory services on the introduction of new schemes and incentives into the market, it added.
 
The data analysed by CBRE will include details such as average price per sale, average price per square foot, and other various key performance indicators to enable buyers and tenants to make informed decisions.
 
CBRE will also support the department in implementing technology to further facilitate data capture and analysis.
 
Majid Saqr Al Marri, CEO of the Registration and Real Estate Services Sector at DLD, said: "As a department that is dedicated to enhancing and increasing real estate development in Dubai, we are pleased to be partnering with world-leading consultancy firm CBRE to deliver detailed analysis of the Dubai real estate market over the past few years."

"This information will be crucial in guiding future policy, whilst also empowering developers, landlords, and end-users to make informed and educated real estate decisions," stated Al Marri after signing the deal with Nicholas Maclean, the managing director of CBRE Mena and Turkey, on the sidelines of the Cityscape Global 2019 held in Dubai last week.

"We are confident that this collaboration will enable us to successfully shape the future evolution of this sector in line with Dubai’s vision to become a global investment powerhouse and one of the most innovative nations on earth," he added.

Maclean said: "CBRE was delighted at signing the important deal with DLD to further increase market transparency and provide rich data and invaluable insights to all stakeholders as part of our joint efforts to promote Dubai as a world-class real estate hub."

"We believe that collaboration between the public and private sector is key to ensuring the further growth of Dubai’s real estate sector," he noted.

"The agreement represents an important step in demonstrating to the world that Dubai is deeply committed to becoming a leading real estate hub with transparency, and technology at its core," he added.-TradeArabia News Service