How many brokers work in Dubai's property market?
The number of registered brokers and brokerage companies in the emirate, as of the end of 2016, has been revealed in a report issued by Dubai Land Department
The number of brokers active in Dubai's real estate market, as of 2016, has been revealed in a report issued by Dubai Land Department (DLD).
DLD's report stated that 5,933 brokers are active in Dubai's property market, with 2,285 companies registered to work within the sector.
Emirati citizens topped the number of brokers in the market, followed by Indian, Pakistani, British, Egyptian, and Russian nationals.
Of the 5,933 brokers, 1,946 are women, representing 33% of the total market. This finding highlights "the growing presence" of women brokers in the industry, the report noted.
This data has been revealed as the DLD looks to reiterate the significance of dealing with accredited and licensed brokers that hold appropriate cards issued by the agency.
Yousif Al Hashimi, deputy chief executive officer of Dubai's Real Estate Regulatory Agency (RERA), DLD's regulatory arm, said: "Our mission is to create a secure and sustainable real estate environment in Dubai, and this [applies to] all of our operations and services.
"Dealing with registered and certified real estate brokers is central to achieving this and to guarantee their rights, customers and investors must take great care in verifying the accuracy of ownership data for all property before entering into buying, selling, and leasing activities."
DLD is regulating broker activities by issuing controls and protocols through its various specialised sections and administrations, which are designed to guarantee the rights of all parties. The department also runs training programmes that qualify brokers for work in the sector, including intensive initial sessions that award certified real estate broker cards to successful candidates.
To support on-field brokers, DLD has also launched the Dubai Brokers smart application, which allows parties to enter ownership data and verify the accuracy for all properties.