In the next phase of the programme, the Dubai Land Department will seek to establish partnerships with additional developers and real estate brokers to qualify more Emiratis to work in the property sector. Reuters
In the next phase of the programme, the Dubai Land Department will seek to establish partnerships with additional developers and real estate brokers to qualify more Emiratis to work in the property sector. Reuters
In the next phase of the programme, the Dubai Land Department will seek to establish partnerships with additional developers and real estate brokers to qualify more Emiratis to work in the property sector. Reuters
In the next phase of the programme, the Dubai Land Department will seek to establish partnerships with additional developers and real estate brokers to qualify more Emiratis to work in the property se

Dubai developers to allocate 10% to 15% of projects to Emirati real estate brokers


Deepthi Nair
  • English
  • Arabic

Dubai is taking steps to increase the participation of Emiratis as real estate brokers in upcoming project launches by developers.

In the initial phase of a tie-up with nine leading developers, the Dubai Land Department (DLD) will seek to allocate between 10 per cent and 15 per cent of units to be sold by Emirati brokers, the regulator said on Sunday.

The DLD has brought on board nine developers – Emaar, Expo Dubai, Deyaar, Damac, Azizi, MAG, Sobha Realty, Ellington Properties and Al Bait Al Duwaliy Real Estate Development – for this programme.

This comes under the Dubai Real Estate Broker Programme unveiled to increase Emiratis’ participation and incentivise their involvement in the market, the DLD said.

The agreement aims to enhance the competitiveness of Emirati professionals and support their roles in the sector.

“We are excited to work and collaborate with our real estate partners to achieve exceptional results that reflect the real estate sector’s unique position in Dubai,” said Marwan bin Ghalita, the acting director general of DLD.

Dubai’s property market rebounded strongly from the coronavirus pandemic slowdown on the back of government measures, higher oil prices and strong investor demand.

In 2023, Dubai registered a record 17 per cent annual jump in real estate transactions to 1.6 million across market segments, the latest data from the DLD showed.

The overall number included real estate deals from investments, mortgages and sales transactions to rental contracts recorded last year, up from about 1.3 million transactions reported in 2022.

Last year, the value of real estate deals in the emirate reached Dh634 billion ($172.6 billion), an annual growth of 20 per cent.

Property consultancy Knight Frank said in a February report that prices of prime residential properties in Dubai rose by more than 16 per cent last year, the second-fastest pace globally.

Despite the record sales of luxury homes last year, Dubai is still ranked towards the bottom end of the most expensive prime markets globally, the report said.

In the next phase of the Dubai Real Estate Broker Programme, the DLD said it will seek to establish partnerships with additional developers and real estate brokers to qualify more Emiratis to work in the property sector.

It will also lead to more Emiratis taking on employment with developers under the second phase.

“The agreement also involves collaboration on joint projects with the DLD to advance the real estate sector and foster a culture of innovation and sustainability,” it said.

“Additionally, it entails working with the DLD to provide guidance, professional training and support for national talents, attracting them to the private sector and enhancing their specialised skills to establish their businesses in the real estate market.”

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Benefits of first-time home buyers' scheme
  • Priority access to new homes from participating developers
  • Discounts on sales price of off-plan units
  • Flexible payment plans from developers
  • Mortgages with better interest rates, faster approval times and reduced fees
  • DLD registration fee can be paid through banks or credit cards at zero interest rates
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RACE CARD

6.30pm Mazrat Al Ruwayah – Group 2 (PA) $36,000 (Dirt) 1,600m

7.05pm Handicap (TB) $68,000 (Turf) 2,410m

7.40pm Meydan Trophy – Conditions (TB) $50,000 (T) 1,900m

8.15pm Al Maktoum Challenge Round 2 - Group 2 (TB) $293,000 (D) 1,900m

8.50pm Al Rashidiya – Group 2 (TB) $163,000 (T) 1,800m

9.25pm Handicap (TB) $65,000 (T) 1,000m

Tearful appearance

Chancellor Rachel Reeves set markets on edge as she appeared visibly distraught in parliament on Wednesday. 

Legislative setbacks for the government have blown a new hole in the budgetary calculations at a time when the deficit is stubbornly large and the economy is struggling to grow. 

She appeared with Keir Starmer on Thursday and the pair embraced, but he had failed to give her his backing as she cried a day earlier.

A spokesman said her upset demeanour was due to a personal matter.

The Gentlemen

Director: Guy Ritchie

Stars: Colin Farrell, Hugh Grant 

Three out of five stars

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While you're here

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Iftar programme at the Sheikh Mohammed Centre for Cultural Understanding

Established in 1998, the Sheikh Mohammed Centre for Cultural Understanding was created with a vision to teach residents about the traditions and customs of the UAE. Its motto is ‘open doors, open minds’. All year-round, visitors can sign up for a traditional Emirati breakfast, lunch or dinner meal, as well as a range of walking tours, including ones to sites such as the Jumeirah Mosque or Al Fahidi Historical Neighbourhood.

Every year during Ramadan, an iftar programme is rolled out. This allows guests to break their fast with the centre’s presenters, visit a nearby mosque and observe their guides while they pray. These events last for about two hours and are open to the public, or can be booked for a private event.

Until the end of Ramadan, the iftar events take place from 7pm until 9pm, from Saturday to Thursday. Advanced booking is required.

For more details, email openminds@cultures.ae or visit www.cultures.ae

 

Other must-tries

Tomato and walnut salad

A lesson in simple, seasonal eating. Wedges of tomato, chunks of cucumber, thinly sliced red onion, coriander or parsley leaves, and perhaps some fresh dill are drizzled with a crushed walnut and garlic dressing. Do consider yourself warned: if you eat this salad in Georgia during the summer months, the tomatoes will be so ripe and flavourful that every tomato you eat from that day forth will taste lacklustre in comparison.

Badrijani nigvzit

A delicious vegetarian snack or starter. It consists of thinly sliced, fried then cooled aubergine smothered with a thick and creamy walnut sauce and folded or rolled. Take note, even though it seems like you should be able to pick these morsels up with your hands, they’re not as durable as they look. A knife and fork is the way to go.

Pkhali

This healthy little dish (a nice antidote to the khachapuri) is usually made with steamed then chopped cabbage, spinach, beetroot or green beans, combined with walnuts, garlic and herbs to make a vegetable pâté or paste. The mix is then often formed into rounds, chilled in the fridge and topped with pomegranate seeds before being served.

Updated: April 01, 2024, 9:39 AM`