Dubai Land: AED 842 million for real estate brokers in 9 months

Dubai Land: AED 842 million for real estate brokers in 9 months

Dubai real estate agents have managed to reap AED 842 million in the first nine months of 2018, the Dubai Land Department said.

The number of procedures contributed by intermediaries to 18,121 procedure, according to the statement of the Department.

According to the report issued by the Department of Real Estate Studies and Research in the territory of Dubai, these commissions were achieved through their efforts in land sales, where their commissions, including 429 million dirhams.

The sales of buildings amounted to AED 73 million, while sales of residential units of all types amounted to AED 340 million.

"Brokers play an important role in the market, relying on attracting investors from around the world, as well as highlighting the distinctive characteristics of our property market," said Yousuf Al Hashemi, Deputy CEO of RERA.

Al Hashemi added that Dubai has developed a comprehensive system to protect the rights of brokers in every deal they succeed in concluding, after reconciling the parties to the sale and purchase.

The same report revealed a high level of activity for women as a real estate broker in the market. The number of women working in this field was 1,901 women, registering 5,617 procedures, while their commissions amounted to 261 million dirhams.

He pointed out that 5,622 real estate agents contributed to the vitality of this sector during the reporting period and played a crucial role in the sustainable growth that shows the real estate sector in the Emirate of Dubai from one season to another on an annual basis.

The number of licensed real estate agents registered with the Dubai Land Department reached 4,686, while the number of approved real estate brokers reached 2,436.

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