Dubai Real Estate Brokers Program Secures 25 Partnerships
In a move set to boost Dubai’s property market, the Real Estate Brokers Program has secured 25 partnerships with brokerage companies and developers in the private sector. This initiative, spearheaded by the Dubai Land Department, aims to increase the proportion of citizen brokers from 5 percent to 15 percent over the next three years.
Positive Impact and Aspirations
With over 1,000 registrations from Emirati citizens in the first phase alone, the program is already making a positive impact. Marwan bin Ghalita, acting director general of Dubai Land Department, stated, “This reflects the early positive impact of the program, showcasing citizens’ aspirations and eagerness to engage as real estate brokers and acknowledging the pivotal role of Dubai’s real estate sector locally and globally.”
Alignment with Dubai Social Agenda 33
The Dubai Real Estate Brokers Program aligns with Dubai Social Agenda 33, which seeks to triple the number of Emiratis working in the private sector. Ghalita emphasized that the program will help young talents in the nation enhance their productivity, contributing to Dubai’s economic growth.
Empowering Citizens in the Property Sector
Through initiatives like Emirati real estate broker licensing and encouraging property developers to allocate sales to local agents, the program aims to empower citizens in the property sector. Citizen participants will receive support packages to enhance their competitive edge and enable them to take up roles in the real estate sector.
Strategic Alliances and Ambitious Goals
Ghalita highlighted the collaboration between the private and public sectors, with real estate companies and citizens joining the strategic alliance. The goal is to increase Emirati real estate brokers from 5 percent to 15 percent over the next three years, offering more employment opportunities in the property market for national citizens.