On Sunday, the Dubai Land Department (DLD) signed a deal with nine private and government-backed developers to allocate a certain quota for their projects sold through Emirati brokers to provide more job opportunities to the locals.
In an agreement signed with Emaar Properties, Deyaar, Expo Dubai, Damac Properties, MAG, Azizi Developments, Sobha Realty, Ellington Properties, and Al Bait Al Duwaliy Real Estate Development, the controller said the purpose is to “allocate a ten percent to 15 percentage quota of their projects to be offered through Emirati agents.”
The agreement was signed as the domain of the “Dubai Real Estate Programme” to encourage local talent to advance in real estate.
The agreement also entails providing guidance, professional training, and support for national talents, attracting them to the private sector, and enhancing their specialized skills to establish their businesses in the real estate market.
Dubai’s real estate sector has seen massive growth in the post-pandemic period, creating many jobs in the brokerage segment. Thousands of brokerage houses have been established after COVID-19. The property market witnessed notable calls from nearby and overseas investors.
Also Read: Dubai Real Estate Demand Persists
Expanding network
DLD desires to extend this network of nine companies by marking agreements with more developers in the future months.
Marwan bin Ghalita, appearing as director-standard of Dubai Land Department, stated this program had been released to “grow citizen participation in the real estate market” and incentivize their involvement in real estate activities enhance their engagement in certainly one of Dubai’s pivotal economic sectors.
“We eagerly anticipate collaborating with our partners in the real estate sector to achieve remarkable outcomes that resonate with the esteemed position held by the real estate sector in Dubai, both domestically and internationally,” said bin Ghalita.
