Dubai to Allocate 15% of Property Sales to Emirati Brokers

Dubai to Allocate 15% of Property Sales to Emirati Brokers

To enhance job opportunities for residents, the Dubai Land Department (DLD) announced a groundbreaking initiative on Sunday. The department has entered into agreements with nine prominent developers, both private and government-backed, to reserve a specific percentage of their projects for sale through Emirati brokers.

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Among the developers involved in this landmark agreement are industry giants such as Emaar Properties, Expo Dubai, Deyaar, Damac Properties, Azizi Developments, MAG, Sobha Realty, Ellington Properties, and Al Bait Al Duwaliy Real Estate Development. As per the deal, these developers will allocate between 10% to 15% of their projects for sale through Emirati brokers.

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This initiative is part of the broader “Dubai Real Estate Programme,” aimed at nurturing local talent and fostering growth within the real estate industry. The agreement includes provisions for providing guidance, expert training, and support to Emirati nationals, enabling them to enter the private sector and develop specialized skills necessary for launching successful real estate ventures.

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In the wake of the pandemic, Dubai’s real estate market has witnessed significant growth, resulting in a surge in job opportunities within the brokerage sector. The unprecedented demand from both domestic and international investors has led to the establishment of thousands of brokerage firms post-COVID-19.

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Looking ahead, the DLD aims to expand its network by signing contracts with additional developers in the coming months. Marwan bin Ghalita, acting director-general of the Dubai Land Department, emphasized that the primary objective of this program is to increase citizen participation in the real estate market. By incentivizing Emirati involvement in real estate-related activities, the initiative aims to boost their contribution to one of Dubai’s key economic sectors.

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“We look forward to collaborating with our partners in the real estate sector to achieve significant outcomes that align with the esteemed position held by the real estate sector in Dubai, both domestically and internationally,” said bin Ghalita.

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