The number of real estate brokers operating in Dubai numbered 2,238 last year, according to a report issued by the Dubai Land Department (DLD) recently. The study findings revealed that Emiratis made up the largest percentage of the city’s property brokers by nationality and that there was one woman for almost every five men working in the sector.
“The number and diversity of nationalities working in the field of real estate brokerage reveals the attraction of the activity itself and is an indication of the confidence felt by brokers to work in the sector,” said Yousif Al Hashimi, Deputy CEO of the Real Estate Regulatory Agency (RERA), the regulatory arm of DLD. “Brokers in Dubai are reassured by the legislation and laws that exist to guarantee the rights of all dealers in the market,” he added.
The DLD report revealed that it was citizens of the United Arab Emirates who made up the largest percentage of brokers, with 621 Emirati brokerage operators registered with the department – a figure representing 28 percent. Pakistani and Indian nationals of the total, at 340 and 336 respectively, while British property dealers numbered 177. There were 134 Egyptian brokers registered with significant other nations represented including the Philippines, Iran, Russia and Uzbekistan.
Further demographic statistics taken from DLD’s report revealed the gender balance in Dubai’s real estate sector, with a relatively high number of women working as brokers. The report showed that there were 468 women registered to conduct property transactions in Dubai last year, compared to 1770 men. The figures equate to a female share of approximately 21 percent, or one woman for every five men.
“The success achieved by women in Dubai’s real estate brokerage sector can be attributed to the transparency of the market and its array of regulations, which help them to work in a safe and rewarding environment. In fact, property brokerage as an activity in Dubai attracts a large number of brokers of both sexes because of the sector’s positive atmosphere and reassuring business environment,” added Al Hashimi.
DLD have previously reported that real estate brokers working in the Dubai market last year were responsible for more than DHS236bn worth of deals. The transactions included sales and other real estate deals involving land, units and buildings across the emirate.
Saturday, February 22- 2014 @ 12:09 UAE local time (GMT+4) Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Mediaquest FZ LLC.