An 18-year-old Emirati who became one of the youngest licensed real estate brokers in Dubai has reflected on what it took to achieve so much at such an early stage of his career.
Khalid Al Zarooni, a recent high school graduate, was inspired by his father, a seasoned real estate expert and company owner.
“I followed in my father’s footsteps. I used to go with him to the company and listened carefully to his tips,” Mr Al Zarooni told The National.
While many of his peers are preparing for university, Mr Al Zarooni is balancing life as a student and a professional broker. He launched his own business, KBW Perfumery, when he was 16 while attending Al Salam Community School in Dubai.
In May last year at the age of 17, he signed up for the Dubai Real Estate Broker Programme, launched to boost local representation in the sector, and got his licence just days later.
The national programme aims to allocate between 10 per cent and 15 per cent of units to be sold by Emirati brokers.
How did the programme help?
“I wanted to be an entrepreneur from a young age. I love business and will continue my academic studies in business or property management,” he said.
“My father told me about the programme and encouraged me to enrol. I was accepted and was trained by professionals and experts in real estate,” he said. “It is a free programme that has so many advantages. It allows you to be a part-time broker.”
For those looking for full-time work in the sector, the programme also helps secure employment at an estate agency.
After obtaining his brokerage licence after his three days of training, Mr Al Zarooni joined his father’s company W Capital real estate. By May this year, he had sold two Dubai apartments – one to an Emirati and the other to an investor from outside the Emirates.
“I closed two deals for a one-bedroom and two bedrooms at the Rabdhan Gates projects in Dubai with a total value of Dh2.3 million,” he said.
Tips to get to the top
Dubai Land Department announced on Sunday that Emiratis interested in joining the programme can now register on its official website.
This follows strong interest since its launch, with the department calling on developers and brokers to get involved by presenting their proposals and initiatives for further success.
The number of qualified Emirati brokers has reached more than 180 per cent of the annual target.
Real estate transactions exceeding Dh500 million have been registered and 231 new real estate brokerage firms have been licensed from the programme’s launch through the end of April this year, official figures show.
Mr Al Zarooni believes that Emirati youths are capable of excelling if given the right opportunities and support.
“I’m grateful to my family support,” he said. “I dedicated time outside school to enter the real estate sector. Young Emiratis can work in any sector and succeed.”
A good real estate broker should have a lot of connections and be aware of new off-plan projects, Mr Al Zarooni added.
“The most important thing is to be honest with clients in this sector. I hope to be a well-known name in real estate brokerage in Dubai,” he added.
