Brokerage, as well as investment, consulting, and development companies can be 100% owned by foreigners. Previously, until 2021, the law required the presence of a local partner, whose share had to be at least 51%. Since these restrictions were lifted, the number of new licenses granted to real estate companies has been steadily increasing.
New companies are also emerging in other emirates, not only in Dubai. Ras al Khaimah, in particular, attracts more and more European investors, which encourages foreign consulting companies to open their representative offices there.
The Dubai Land Department has already registered 25,800 licensed real estate brokers, and this number continues to grow.
To become a licensed broker in Dubai, you must register with the Dubai Institute of Real Estate, complete training and pass an exam conducted by the Real Estate Regulatory Agency (RERA). The license is issued after the successful completion of the process.What do you need to know when choosing a real estate broker in Dubai?
Source: Economic Times
