Arab News, Tue, Apr 30, 2024 | Shawwal 21, 1445
Dubai Real Estate Brokers Program attracts 25 strategic partnerships
Emirates:
Dubai’s property market is set to grow, with the Real Estate Brokers Program
securing 25 partnerships with brokerage companies and developers in the private
sector.
According to a press statement, the first phase of
the program, launched in mid-March and headed by the Dubai Land Department, also
received over 1,000 registrations from Emirati citizens.
Dubai Real Estate Brokers Program aims to increase
the proportion of citizen brokers from 5 percent to 15 percent over the next
three years to enhance the participation of young citizens in the Emirate’s
developmental initiatives across various key sectors.
“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,” said Marwan bin Ghalita, acting director general of Dubai Land
Department.
The initiative also aligns with Dubai Social
Agenda 33, which seeks to triple the number of Emiratis working in the private
sector.
Ghalita added that the program will help young
talents in the nation enhance their productivity, therefore contributing to
Dubai’s economic growth.
“Dubai consistently offers outstanding examples of
collaboration and synergy between the private and public sectors,” said
Ghalita.
He added: “With the program’s enrollment exceeding
1,000 citizens and real estate companies continuing to join the strategic
alliance within a short period, we are diligently working toward achieving all
the ambitious goals of the Dubai Real Estate Brokers Programme. In particular,
Emirati real estate brokers will increase from 5 percent to 15 percent over the
next three years.”
The program also encompasses additional
initiatives, including Emirati real estate broker licensing, encouraging
property developers to allocate a portion of their sales to local agents, and
empowering citizens in the property sector.
Under the partnership with the private sector,
citizen participants will receive various support packages to enhance the
competitive edge of UAE people and enable them to take up roles in the real
estate sector.
The press statement added that efforts would also
be made to allocate 10 percent to 15 percent of the development company’s sales
to be marketed by Emirati real estate brokers, therefore contributing to the
empowerment of national citizens by offering them employment opportunities in
the property market.