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Dubai property brokers' commission soars to $408m

DUBAI, January 25, 2017

Dubai Land Department's (DLD) said the property brokers registered in its regulatory unit, Real Estate Regulatory Agency (Rera), had earned commissions worth Dh1.5 billion ($408.2 million) last year, according to a report.

DLD announced that the total value of real estate brokers’ commissions for 2016 was from 32,932 transactions, while Dubai’s real estate market also attracted 5,933 active brokers and 2,285 registered brokerage offices, reported state news agency Wam.

The UAE citizens ranked first in terms of the number of brokers in the market, followed by Indian nationals and Pakistani nationals, who have also achieved excellence in this field.

The other most active nationalities in the real estate market were from the UK, Egypt, Russia, Lebanon, Jordan and the Philippines, said the report.

The DLD also revealed the growing presence of women brokers in Dubai’s real estate market.

Today there are 1,946 women working in this field, compared to 3,987 men, representing 33 per cent of the total numbers of brokers, stated the Wam report citing a senior official.

"Brokers and real estate offices play a vital role in promoting the real estate market in Dubai. DLD has ensured the legality of their activities by issuing legislations that guarantee the rights of all parties, and by introducing numerous training courses," remarked Yousif Al Hashimi, the deputy chief executive of Rera.

"These are designed to help brokers and real estate offices work efficiently and transparently, provide excellent customer service and answer all inquiries professionally," he added.

Al Hashimi pointed out that the high volume of brokerage activity in Dubai was 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," he added.-TradeArabia News Service




Tags: Dubai | Women | Commission |

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