Dubai To Allocate up to 15% Quota of Property Sales to Emirati Brokers
Dubai Land Department (DLD) on Sunday said it signed a deal with nine private and government-backed developers to allocate a certain quota of their projects to be sold through Emirati brokers to provide more job opportunities to the locals.
In a deal signed with Emaar Properties, Expo Dubai, Deyaar, Damac Properties, Azizi Developments, MAG, Sobha Realty, Ellington Properties, and Al Bait Al Duwaliy Real Estate Development, the regulator said the aim is to “allocate a 10 percent to 15 percent quota of their projects to be sold through Emirati brokers.”
The agreement was signed as part of the “Dubai Real Estate Programme” to enable local talent to advance in real estate.
Additionally, the agreement also entails providing guidance, professional training, and support for national talents, attracting them to the private sector and enhancing their specialised skills to establish their businesses in the real estate market.
Dubai’s real estate sector has seen massive growth in the post-pandemic period, resulting in a large number of jobs being created in the brokerage segment. Thousands of brokerage houses were established after Covid-19 as the property market witnessed unprecedented demand from local and foreign investors.
DLD aims to expand this network of 9 companies by signing agreements with more developers in the coming months.
