January 30th, 2017 by Own A Space
According to DLD report, registered property brokers of Real Estate Regulatory Agency (RERA), the regulatory hand of Dubai Land Department’s (DLD), earned Dh1.5 billion commission last year.
It has been announced by DLD that the total value of the commissions of real estate brokers’ for previous year amounted over Dh1.5 billion which resulted from 32,932 transactions, although Dubai’s real estate market also attracted 5,933 active brokers and 2,285 registered brokerage offices.
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Deputy CEO of RERA, Yousif Al Hashimi said that the brokers and real estate offices have a crucial role to play in the real estate market promotions in Dubai. DLD has made sure of the legality of their activities through issuing of legislations which guarantee all party rights and also through an introduction of numerous training courses. These training courses are designed with a view to helping brokers and real estate offices work so that they can operate on more efficient and transparent basis, providing excellent customer service and answers all the inquiries professionally.
DLD’s report also discloses that citizens of UAE are ranked first when it comes to a number of brokers in the market, followed by Indian nationals and Pakistani nationals, who are also excellent in this area. Other most active nationalities in descending order in this real estate market are United Kingdom, Egypt, Russia, Jordan, Lebanon & Philippines.
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The growing presence of female brokers in Dubai’s real estate market is also confirmed in this report. Currently, there are 1,946 active female workers in this field, compared to 3,987 male ones, representing total 33% of the numbers of brokers.
High-income commissions were secured by the Brokers and real estate offices operating at Emirates through offering their services to the investors and real estate development companies around the world. Partnered, they performed 32,932 transactions valuing at Dh 1.52 billion.
Concluding, Al-Hashimi said that the high volume activity of brokerage in Dubai is the aftereffect of the really good health of the local real estate market. The market has attracted a large number of brokers with its incentive environment, from around the world, promoting Dubai real estate both locally and globally.
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