Dubai, UAE: CBRE, one of the world’s leading property consulting firms, and Dubai Land Department (DLD) signed a memorandum of understanding. Under the MoU, CBRE will provide research analysis of DLD data for two years. The agreement will encourage 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.

CBRE’s range of services - that will be delivered as part of the partnership - will include research consultancy on the real estate market to provide evolving market trends and opportunities to support DLD’s strategic vision. 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.

The research provided by CBRE will enable the Government of Dubai 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. CBRE will also support DLD 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. 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.”

Nicholas Maclean, Managing Director of CBRE MENAT, said: “We are delighted to sign this important MoU 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. 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.”

The data that will be 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. The agreement follows several recent announcements by DLD that demonstrate its commitment to digital transformation. The MoU with CBRE forms part of the Dubai 10x initiative that aims to place government entities 10 years ahead of the rest of the world in all sectors, including real estate.

The MoU was signed by Majid Saqr Al Marri, CEO of the Registration and Real Estate Services Sector at DLD, and Nicholas Maclean during the 18th edition of Cityscape Global 2019 held at the Dubai World trade Centre on 25 – 27 September.

-ENDS-

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About Dubai Land Department:
Dubai Land Department (DLD) was founded in January 1960 to establish the most prominent real estate sector in the Middle East and the world. It provides outstanding and integrated services to all its customers while developing the necessary legislation to propel the real estate sector in Dubai through the regulation of the sector, organising and promoting real estate investments, and spreading industry knowledge in search of regional and worldwide real estate innovation.

DLD seeks regional and worldwide innovation in real estate with the aid of its active sectors that include real estate registration services, real estate investment promotions, and corporate support, and with the aid of its active organisations that include the Real Estate Regulatory Agency, the Dubai Real Estate Institute, and the Rental Dispute Centre.

Unified Toll Free Number:

In order for Dubai Land Department to provide the best possible service in a rapid manner and to ensure the comfort and happiness of our customers, it has activated a new toll-free call centre number [8004488]. This can be used for all Dubai Land Department and Rental Disputes Centre enquiries.

About CBRE Group, Inc.

CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (in terms of 2014 revenue).  The Company has more than 70,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 400 offices (excluding affiliates) worldwide. CBRE offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting. Please visit our website at www.cbre.bh 

© Press Release 2019

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