Over AED 200 million worth of transactions completed by Emirati brokers during first phase.
Dubai, UAE, 10 October 2024: In a major step towards empowering local talent and boosting Dubai’s real estate sector, the Dubai Land Department (DLD) has launched the second phase of the Dubai Real Estate Brokers Programme. This phase opens registration for 1,000 new Emirati participants, aligning with the emirate’s ambitious vision of positioning Dubai as a global leader in real estate innovation and excellence.
The programme aims to develop advanced skills among Emirati brokers while fostering an integrated investment environment to enhance Dubai’s position as a global real estate hub. The first phase saw over 500 participants receive real estate broker cards, and Emirati brokers successfully closed transactions worth AED 200 million.
The announcement was made at a ceremony organized by DLD, attended by His Excellency Eng. Marwan Ahmed Bin Ghalita, Director General of the Dubai Land Department, and His Excellency Mohamed Ali Alabbar, Chairman of Emaar. Senior officials from both the public and private sectors, as well as DLD executives, also attended the event, underlining the programme’s importance to Dubai’s real estate future.
Supporting Emiratisation and Sustainable Growth
The Dubai Real Estate Brokers Programme is a key component of the Dubai Social Agenda 33, launched by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister, and Ruler of Dubai. The initiative aims to triple the number of Emiratis in the private sector, supporting economic self-sufficiency, family stability, and broader societal growth.
The programme also contributes to the Dubai Economic Agenda D33, which seeks to integrate 65,000 young Emiratis into the labor market, further solidifying Dubai’s status as a global center for excellence and innovation. In addition to skill development, the programme is designed to create an integrated investment environment, fostering opportunities for Emirati citizens to thrive in the growing real estate sector.
Empowering Local Talent
His Excellency Eng. Marwan Ahmed Bin Ghalita highlighted the importance of the programme in developing a new generation of Emirati brokers equipped with the skills necessary to lead the real estate market’s transformation. “This programme aligns with our leadership’s vision of empowering Emirati talent to take an active role in the real estate sector. By providing them with advanced professional skills, we are building a strong foundation for sustainable development and economic growth in the emirate,” he said.
He added that the real estate sector’s rapid growth presents significant opportunities for Emirati brokers to contribute to Dubai’s future success. “This is more than just skill development; it’s about creating an ecosystem where Emiratis can thrive and lead in a competitive market,” he emphasized.
Mohamed Alabbar’s Insights on Success
His Excellency Mohamed Ali Alabbar, Chairman of Emaar, praised the Dubai Land Department for launching this initiative, which highlights the critical role of Emirati talent in one of the UAE’s most dynamic industries. He encouraged aspiring brokers to focus on key market factors, such as pricing, property types, and location, while continually adapting to changing market conditions.
“The Dubai real estate market is one of the strongest globally, and there is tremendous potential for those willing to learn and grow in this field,” Alabbar noted. He added that Emaar’s success was built on understanding these dynamics, which contributed to Dubai’s position as a global real estate powerhouse.
Programme Objectives and Strategic Partnerships
The Dubai Real Estate Brokers Programme seeks to increase the percentage of Emirati brokers from 5% to 15% over the next three years, with a focus on providing young talent with competitive commissions, real estate broker licenses, and comprehensive training. Participants will also benefit from a one-year exemption from government fees and exclusive advertising packages, further incentivizing their participation in the real estate market.
The programme has expanded its strategic partnerships, growing to 50 partners, including real estate developers and brokers. Through these collaborations, Emirati brokers will receive the necessary guidance, mentorship, and market exposure to excel in the competitive real estate landscape.
With the launch of the second phase, DLD continues to prioritize Emirati talent development, ensuring that they play a pivotal role in the future growth of Dubai’s thriving real estate market.
