By Staff writer
Dubai Land Department also highlights the growing presence of female brokers operating in the emirate
Real estate brokers in Dubai made total commissions of AED1.5 billion during 2016 from nearly 33,000 transactions, according to Dubai Land Department (DLD).
Tha authority said Dubai has 5,933 active brokers and 2,285 registered brokerage offices, adding that the commission represented two percent of the total value of recorded deals.
DLD’s report revealed that UAE citizens ranked first in terms of the number of brokers in the market, followed by Indian nationals and Pakistani nationals while expats from the UK, Egypt, Russia, Lebanon, Jordan and the Philippines are also prominent in the sector.
The report also confirmed the growing presence of women brokers in Dubai’s real estate market, totalling 1,946 compared to 3,987 men, representing 33 percent of the total numbers of brokers.
Yousif Al Hashimi, deputy CEO of the Real Estate Regulatory Agency (RERA), a DLD unit, said: “DLD has ensured the legality of their activities by issuing legislations that guarantee the rights of all parties, and by introducing numerous training courses.
"These are designed to help brokers and real estate offices work efficiently and transparently, provide excellent customer service and answer all inquiries professionally.”
Hashimi added: "The high volume of brokerage activity in Dubai is a reflection of the excellent health of the local real estate market. With its incentive environment, the market attracted huge numbers of brokers from around the world, promoting Dubai real estate both locally and globally.”For all the latest real estate news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.