Real estate advisory JLL says it has signed a memorandum of understanding with the Jeddah Chamber of Commerce & Industry (JCCI) to jointly launch a housing index for the Saudi city.

The JLL-JCCI Jeddah Housing Index has been launched with the objective of collecting, consolidating and sharing data on the local market. This will help bring transparency to the market and improve the quality of information available to investors, JLL said.

The first report on Jeddah is set to be released in the second quarter by JLL.

Jamil Ghaznawi, National Director and Country Head of JLL KSA commented on the agreement saying: “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 KSA’s fast evolving real estate sector.”

Zyad Al Bassam, Vice Chairman of Jeddah Chamber of Commerce, added: “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.”