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Dubai / WAM
Dubai Land Department (DLD) announced that over AED 820 million worth of brokerage commissions were 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
ofthe global investment
environment that characterises Dubai. As part of their rights, there is a set of laws that defines and regulates their commissions.â€
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.
In recognition of their importance, DLD has launched an awareness campaign about the ‘DubaiBrokers’ application, which is the first of its kind in the world and one of the most important applications issued by the department.
It provides accurate and
up-to-date information on licensedDubai real estate brokers and companies that are approved by DLD.
The application is designed to reach a large number of beneficiaries including landlords and realestate investors. It allows investors to verify whether a real estate broker is registered with DLD, protects the rights of customers, enhances speed and confidence, and means that properties can be purchased and sold both smartly and securely. DLD encourages all individuals involved in brokerage services to download the application for a quick and easy way to identify the best realestate brokers according to their performance indicators and efficiency.