The Dubai Land Department launched, within the Dubai Social Agenda 33; “Dubai Real Estate Broker Program”, with the aim of enabling young citizens to benefit from economic opportunities in the real estate sector, and enhancing their role in the growth and leadership of this sector, which is one of the most important economic tributaries of the emirate.
The program aims to raise the percentage of national mediators from 5% to 15% during the next three years, with the aim of consolidating the role of young citizens in the development process of Dubai, and enhancing their role in various vital sectors.
The number of accredited real estate brokers in Dubai will reach 16,376 by the end of 2023, while the number of real estate brokerage offices has reached 1,364.
The Dubai Real Estate Broker Program comes within the “Dubai Social Agenda 33” launched by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, may God protect him, under the slogan “The family is the foundation of the nation,” which seeks to increase the number of citizens working in The private sector to triple the current number, and raise their productivity and economic contribution in a way that achieves their self-sufficiency and financial independence, and guarantees them family and social stability.
The program also meets the objectives of the Dubai Economic Agenda D33, which aims to make Dubai an incubating and enabling environment for national skills, by integrating 65,000 of the rising Emirati generation into the labor market and into promising sectors, thus confirming Dubai’s position as a center for skilled people and specialists, within the framework of Dubai’s endeavor to consolidate Active participation of citizens in all sectors, which reflects positively on raising levels of Emiratisation and enhancing family stability.
The Dubai Real Estate Broker Program includes five main projects, including: the National Broker License Project, the project to encourage developers to allocate a percentage of their sales to the national broker, the Empowerment Project in the Real Estate Sector, the Emirates Business Group Project for Real Estate Brokerage, in addition to the rehabilitation project by involving them in some… Specialized courses under the supervision of the Dubai Land Department.
The program provides training opportunities for citizens wishing to work as certified real estate brokers, as it provides an encouraging and stimulating environment that contributes to supplying the real estate market in Dubai, with national competencies equipped with the latest international practices in this field.
The program constitutes a platform in line with the ongoing efforts made by Dubai to develop the real estate market in the emirate, develop the skills of citizens, and enhance their participation in various economic sectors, as the program provides the opportunity for citizens to benefit from the great growth witnessed by the real estate sector in Dubai, and to participate in achieving leadership and excellence in this field.
Encouraging real estate development companies to allocate 10% to 15% of their projects for sale by national brokers
The “Dubai Real Estate Broker Program” is distinguished by an approach that keeps pace with the best international practices and standards adopted in the field of real estate brokerage, as the national broker license project will be implemented through a mechanism that includes exemption from government fees related to real estate activity for one year, offering a free real estate qualification course, and offering a free package. Also for a year for advertising and promotion on real estate promotion platforms.
As for the project to encourage developers to allocate a percentage of their sales to the national broker; Its implementation mechanism includes encouraging real estate development companies to allocate 10% to 15% of their projects for sale by national brokers, and concluding a strategic partnership with real estate developers to enhance the role of national brokers. The empowerment project in the real estate sector will be implemented according to a mechanism that provides an opportunity for young citizens to join leading real estate brokerage companies, and encourages brokerage companies to grant a meaningful commission to national real estate brokers.
With regard to the Emirates Business Group project for real estate brokerage; Its implementation mechanism is based on the establishment of a business group within the Dubai Chambers, for the group to provide advice to the department on developing the role of citizens in the Dubai real estate market. While the “Rehabilitation Project” depends on providing real estate courses in the field of real estate brokerage for citizen brokers and courses in real estate investment for citizens, under the supervision of the department.
It is noteworthy that the real estate brokerage activity in Dubai is of great importance, based on its role in facilitating transactions and providing options to various categories of investors, ensuring the preservation of their rights, and ensuring the accuracy of ownership data for all properties before entering into the buying, selling and leasing operations.