Friday 5 June 2020

Dubai's H1 real estate brokerage commissions hit $155m

DUBAI, July 18, 2018

Dubai's real estate brokerage commissions surged to hit Dh571 million ($155 million) during the first half of 2018, with a total of 5,181 active brokers, representing 2,113 offices, contributing to the sustainable growth achieved by the sector, said a statement from Dubai Land Department (DLD).

The activities of the brokers and real estate offices during the report’s period were transparent, amounting to 2,978 transactions. The number of contributing female brokers working in the real estate sector was 678, according to data by the Department of Real Estate Studies and Research of the DLD.

Yousuf Al Hashimi, the deputy executive director of Real Estate Regulatory Agency (Rera), said: "We appreciate the essential role played by authorised and licensed real estate brokers, and we encourage customers to choose brokers who hold ‘real estate broker’ identification cards."

"The accreditation system for brokers that was set in place by DLD was initiated to sustain a secure real estate environment for all parties in the market," stated Al Hashimi.

"In addition, certified brokers contribute to support the vision of the department by enhancing the process of real estate transactions in the emirate," he added.-TradeArabia News Service

Tags: Dubai | real estate | brokerage commissions |

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