Dubai Land Department (DLD) has announced that over Dh820 million ($223 million) worth of brokerage commissions was made in Dubai’s real estate market between the beginning of January 2017 and the end of June this year.
Yousuf Al Hashimi, deputy executive director of RERA – the regulatory arm of DLD – said: “Brokers play an essential role in our sector, representing the forefront of real estate activity, acting as a very important link between sellers and buyers, and also offering a wide range of services for investors. Our brokers come from a variety of different nationalities, so they have the ability to provide a true picture of the global investment environment that characterizes Dubai. As part of their rights, there is a set of laws that defines and regulates their commissions.”
Another DLD report on the activity of brokers and real estate offices in the first half of 2017 revealed that there are now 5,856 active brokers and 2,340 offices registered in its database. Brokers support DLD’s vision by driving real estate transactions and helping to position Dubai as the world’s premier real estate destination and a byword for innovation, trust, and happiness.
Source Credit: GDN Online
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