In Dubai property, UAE Nationals to get 10-15% quota in project launches by leading developers

Dubai: Steps have been taken that will see higher representation of UAE Nationals participating as real estate agents in property sales within Dubai. The target is to have between 10-15 per cent of units in projects from some of Dubai’s biggest developers allocated and sold by Emirati brokers.

The initiative has been taken up by Dubai Land Department, who in the first phase has brought on board nine major developers - Emaar, Expo Dubai, Deyaar, Damac, Azizi, MAG, Sobha Realty, Ellington Properties and Al Bait Al Duwaily Real Estate Development.

This comes under the ‘'Dubai Real Estate Broker Programme’ overseen by the Land Department. The alliance with the nine developers forms the first phase of the program.

The aim is to secure more Emirati participation in the the various job roles associated with the local property market. It will also lead to more UAE Nationals taking on employment with developers under the second phase.

The agreement also involves collaboration on joint projects with Dubai Land Department to ‘advance the real estate sector’ and foster a ‘culture of innovation and sustainability’.

The partnerships will also help provide guidance, professional training, and support for UAE National talents, ‘attracting them to the private sector and honing specialised skills to help them establish their own businesses in the real estate market.

“We eagerly anticipate collaborating with our partners in the real estate sector to achieve remarkable outcomes that resonate with the position held by the real estate sector in Dubai, domestically and internationally,” said Marwan bin Ghalita, acting Director-General of DLD.

The UAE authorities are fast-tracking job creation and upskilling opportunities for new cohorts of qualified Emiratis venturing into the employment space. The focus has been on the private sector to do its part in meeting set targets.

The local real estate sector has been a major draw through recent years for fresh graduates. All of the leading government backed developers have sizeable presence of Emiratis across their workforces. The onus is now on the private players too to help, alongside creating more opportunities in the highly competitive category of being property brokers.

The ‘'Dubai Real Estate Broker Programme’ is thus launched to increase ‘citizen participation in real estate market’, according to DLD.

“The program aims to incentivise their involvement in real estate activities, thereby enhancing their engagement in one of Dubai’s pivotal economic sectors - the real estate industry,” the statement added.