Dubai property brokers earn $223m in commissions in H1

Real estate brokers in Dubai earned more than AED820 million ($223.2 million) in commissions during the first six months of 2017, according to the Dubai Land Department (DLD).

The DLD also revealed that in the first half of 2017 a total of 5,856 active brokers and 2,340 offices were registered in its emirate.

In January, the DLD said real estate brokers in Dubai made total commissions of AED1.5 billion during 2016.

Yousuf Al Hashimi, deputy executive director of RERA – the regulatory arm of DLD – said: “Brokers play an essential role in our sector, representing the forefront of real estate activity, acting as a very important link between sellers and buyers, and also offering a wide range of services for investors.

“Our brokers come from a variety of different nationalities, so they have the ability to provide a true picture of the global investment environment that characterises Dubai. As part of their rights, there is a set of laws that defines and regulates their commissions.”

DLD has launched an awareness campaign about the ‘Dubai Brokers’ application, which provides accurate and up-to-date information on licensed Dubai real estate brokers and companies that are approved by DLD.

DLD said it encourages all individuals involved in brokerage services to download the application for a quick and easy way to identify the best real estate brokers according to their performance indicators and efficiency.

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