Dubai Land Department (DLD) has announced that over AED 1.3 billion worth of brokerage commissions were made in Dubai’s real estate market between the beginning of January 2017 and the end of September this year, with a total number of 6,200 active brokers working in Dubai’s real estate market.

Yousef Al Hashmi, Deputy Executive Directorof RERA – the regulatory arm of DLD – commented: "Brokers play an essential role in our sector, attracting investors from around the world and highlighting the distinctive characteristics of our real estate market.Dubai has developed a comprehensive system to protect the rights of brokers in each transaction they conclude followingsuccessful reconciliation between the parties to the sale and purchase.”

Real estate brokers achieved these commissions after securing land, building and unit saleswith a total sale value of AED 65.626 billion. Brokers received a commission of AED 607 million from land sales amounting to AED 30.368 billion, AED 110 million from building sales amounting to AED 5.515 billion, and AED 595 million from unit sales amounting to AED 29.744 billion, bringing the total commission of real estate brokers to AED 1.3 billion innine months.

DLD recently launched the ‘Dubai Brokers’ application, which is the first of its kind in the world and providesaccurate and up-to-date information on licensed Dubai real estate brokers and companies that are approved by DLD.

The application 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 real estate brokersaccording to their performance indicators and efficiency.

 

About Dubai Land Department:

Dubai Land Department (DLD) was found in May 1960 to establish the most prominent real estate sector in the Middle East and in the world.

DLD provides outstanding services to all its customers whilst developing the necessary legislation to propel the real estate sector in Dubai, organizing and promoting real estate investment, and spreading industry knowledge. DLD seeks regional and worldwide innovation in real estate with the aid of its active organizations that include: Real Estate Regulatory Agency, the regulatory arm, Real Estate Investment Management & Promotion Center, the investment arm, Dubai Real Estate Institute, the educational arm, and Rental Dispute Center, the judicial arm.

Unified Toll Free Number:

In order for Dubai Land Department to provide the best possible service in a rapid manner and to ensure the comfort and happiness of our customers, it has activated a new toll-free call centre number [8004488]. This can be used for all Dubai Land Department and Rental Disputes Center enquiries.

 

Source: Dubai Land Department