DUBAI (Yes News) – Real estate brokers earned a commission of over Dh1.5 bn in 2016 from 32,932 transactions, stated Dubai Land Department (DLD) in its latest report.
According to a report published by Khaleej Times, Dubai’s real estate market attracted 5,933 active brokers and 2,285 registered brokerage offices.
The Dh1.5 bn figure describes the amount of commission earned by property brokers registered in the Real Estate Regulatory Agency (RERA), DLD’s regulatory arm, with the sum representing two per cent of the total value of recorded deals.
DLD’s report reveals that UAE citizens ranked first in terms of the number of brokers in the market, followed by Indian nationals and Pakistani nationals.
Pakistani investors dipped whooping $1.27 billion in real estate sector of Dubai in 2016.
The report also confirms the growing presence of women brokers in Dubai’s real estate market; today there are 2000 women working in this field, compared to 4000 men, making 33 percent of the total numbers of brokers.