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Dubai property brokers net Dh1.3 billion in commissions

dubai - 6,200 brokers operate in Dubai's real estate market.

Brokers operating in the Dubai real estate market earned commission worth over Dh1.3 billion in the first nine months of 2017, the Dubai Land Department (DLD) has announced. A total of 6,200 active brokers work in Dubai's property market.

Property brokers earned Dh820 million in commissions in the first half of 2017 and Dh1.5 billion in 2016.
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Yousef Al Hashmi, deputy executive director of the Real Estate Regulatory Agency (Rera) - the regulatory arm of DLD, said: "Brokers play an essential role in our sector, attracting investors from around the world and highlighting the distinctive characteristics of our real estate market. Dubai has developed a comprehensive system to protect the rights of brokers in each transaction they conclude."

Real estate brokers achieved these commissions after securing land, building and unit sales with a total sale value of Dh65.62 billion.
Brokers received a commission of Dh607 million from land sales amounting to Dh30.36 billion, Dh110 million from building sales amounting to Dh5.51 billion and Dh595 million from unit sales amounting to Dh29.74 billion.

business@khaleejtimes.com