Are you thinking about opening a Real Estate Brokerage Company in Dubai? Obtaining a Commercial Brokerage License in Dubai is the first step toward establishing your presence in this thriving market. The Commercial Brokerage License not only enables you to operate legally but also positions you to take advantage of Dubai’s top-notch infrastructure, technical advancements, company investments, and trading prospects.
Dubai is a prime location for real estate investors, thanks to its magnificent skylines, best infrastructure, renowned landmarks, and popular events. With a Commercial Brokerage License, you can connect buyers, sellers, and investors with lucrative opportunities in one of the world’s best real estate markets.
The appeal of Dubai properties has grown since the golden visa program was introduced for real estate investors and buyers who would invest over Dh2 million. The 10-year residence visa encourages real estate investments, further increasing demand for licensed real estate brokers with expertise in commercial and residential sectors.
The UAE’s real estate market has undergone a significant transformation, refocusing on the prospect of long-term capital growth. With a Commercial Brokerage License in Dubai, you can also explore new avenues such as guiding investors through the 2025 legislation that has simplified property ownership, registration, licensing, and more.
Growth in Real Estate Broker Licenses
The number of real estate broker licenses issued in Dubai has seen a substantial increase:
- 2018: Approximately 5,000 licenses issued.
- 2019: 6,000 licenses issued.
- 2020: Slight dip due to the pandemic.
- 2021: 7,000 licenses issued.
- 2022: 7,500 licenses issued.
- 2023: Approximately 8,000 licenses issued.
- 2024: Projected issuance of about 10,000 new broker licenses, marking a 100% increase from 2018. Dubai News Week
Real Estate Market Performance
Dubai’s real estate market has demonstrated robust performance:
- 2024: Property sales reached $133 billion, indicating strong investor confidence. Arabian Business
- 2024: Average property prices increased, with notable rises in popular neighborhoods. MENAFN
Rental Market Trends
The rental market has also experienced significant changes:
- 2024: Rents for affordable apartments increased by up to 48%, with the largest hike for two-bedroom flats in Deira.
- 2024: Mid-tier apartment rentals rose by up to 41%, especially in centrally located areas like Jumeirah Lake Towers (JLT).
- 2024: Luxury apartment rents grew between 5% and 25%.
- 2024: Villa rentals saw increases, with affordable villas up by 44% and mid-tier villas by up to 45%, particularly for four-bedroom units in Town Square.
- 2024: Upscale villa rentals surged by up to 60%, with Jumeirah registering the highest increase for larger six-bedroom units. Arabian Business
Future Projections
Looking ahead:
- 2025: Property prices are expected to rise by 8%, continuing the upward trend. Business Insider
- 2025: The market is anticipated to maintain its growth trajectory, supported by strong economic policies and investor-friendly regulations. Forbes
Obtaining a Dubai Real Estate Brokerage License
In Dubai, the Department of Economic Development (DED) offers a real estate license. Companies that mediate between the buyer and the seller to complete real estate sales and transactions are required to have a real estate brokerage license.
Real estate broker’s responsibilities also include selling and promoting properties using contracts and agreements that have been approved by the RERA. For more details about the commercial brokerage license, speak with our business setup consultants.
Why Dubai is the Best Place for Real Estate
Dubai’s real estate industry has been steadily growing for many years and is now one of the most appealing property markets in the world. Reasons for setting up your Real Estate Brokerage Business in UAE are as follows-
1. Simple Business Setup Process
Dubai and the rest of the UAE are renowned for their effective and efficient business infrastructure. Making a real estate company is no different. The process for Company Setup in Dubai is hassle-free with Shuraa.
2. Low Taxation Scheme
Due to the absence of corporate and income taxes, Dubai is regarded as a haven by other nations.
3. Supportive Leadership
Numerous policies and regulations supporting real estate brokerages, and authorities charged with defending the rights of agents and brokers. Dubai offers a proactive environment that maximises the potential of the emirate’s established and developing sectors.
4. Substantial clientele
Due to Dubai’s friendly residents, many travellers and investors have chosen to stay in the emirate. Real estate benefits from a big clientele and constant demand.
Benefits of Obtaining a Commercial Brokerage License in Dubai
Securing a Commercial Brokerage License in Dubai offers numerous advantages for businesses and professionals in the real estate sector. Key benefits include:
1. Transparent Processes and Simple Documentation
Dubai’s business environment is built on transparency and streamlined procedures, making it easy for entrepreneurs to navigate regulatory requirements.
2. Metropolitan Diversity
The city’s diverse population creates a cosmopolitan environment, facilitating smooth communication and efficient governance. This diversity fosters a global business atmosphere ideal for growth.
3. Full Business Ownership
Dubai allows 100% ownership of businesses, along with additional incentives, even for entities operating in industries with higher personal tax rates elsewhere.
4. Fraud Prevention and Compliance
With strict anti-fraud and anti-money laundering regulations, Dubai ensures a secure and trustworthy business ecosystem, promoting ethical practices while fulfilling both social and moral obligations.
5. Hassle-Free Operations
A Commercial Brokerage License enables you to conduct all brokerage activities seamlessly, backed by a supportive legal framework designed for efficiency and growth.
By obtaining this license, businesses can confidently tap into Dubai’s thriving real estate market while benefiting from its investor-friendly policies.
Documents Required to get Commercial Broker License in UAE
Documents required by DED
- Copy of the owner’s passport, an Emirates ID card, and a family book (if applicable)
- Passport Size photograph in a white background
- Contract of tenancy and Ejari certificate
- Articles of association (if applicable)
- External RERA approval
Documents required by RERA
- Application for DED
- Reservation of trade names
- initial inquiry approval receipt
- Owner’s passport Copy, an Emirates ID card, and a family book
- Dubai police certificate of good conduct
- Owner’s degree certificate
- Certificate or degree in real estate practitioner course
How can You Expand your Commercial Brokerage Company?
Expanding your commercial brokerage company requires a strategic approach to ensure sustainable growth and success. In the dynamic business environment of the UAE, adopting the right strategies can significantly boost your market presence and profitability. Here are three proven ways to grow your business:
1. Forge Strategic Partnerships
Collaborating with businesses offering complementary services or products can help you tap into untapped markets and enhance your offerings. Strategic partnerships provide mutual benefits, enabling both companies to:
- Access new customer bases quickly.
- Share resources and expertise.
- Strengthen brand reputation by association.
For instance, partnering with financial consultants or legal advisory firms can attract clients seeking comprehensive brokerage services.
2. Explore and Enter New Markets
Relying on your existing niche is great, but expanding into new markets can unlock greater potential. Here’s how you can do it:
- Leverage Brand Recognition: Use your established reputation to gain credibility in new regions or industries.
- Conduct Market Research: Understand the needs and preferences of potential clients in different sectors or locations.
- Customise Offerings: Tailor your services to meet the unique demands of these new markets.
Expanding geographically or diversifying your service portfolio can lead to significant growth opportunities.
3. Consider Mergers and Acquisitions (M&A)
Mergers and acquisitions can accelerate growth by consolidating resources and expanding your client base. Steps to implement an effective M&A strategy include:
- Identify Potential Targets: Look for companies that complement your services or cater to similar clients.
- Evaluate Benefits: Analyse the potential market share, operational efficiency, and expertise gained through the merger or acquisition.
- Plan Integration: Ensure a smooth transition to retain clients and employees post-merger.
This strategy is particularly effective for companies aiming to dominate their market niche or expand their geographical footprint.
Steps to Obtain a Commercial Broker License in Dubai
1. Reserve a Trade Name
- Begin by completing an online application with the Department of Economic Development (DED) to reserve a unique trade name for your brokerage business.
2. Submit the Required Application and Documents
- Fill out the application form and submit it to DED along with:
- Passport copies of all shareholders and the manager.
- Attested copies of each shareholder’s academic transcripts.
3. Complete the RERA Certification Course
- Enroll in and complete the RERA (Real Estate Regulatory Agency) Course, which typically takes about two weeks.
- Successful completion of the course will grant you RERA clearance.
4. Provide Required Documents to RERA
- Submit the following to RERA:
- DED license copy.
- Completed application form.
- Tenancy agreement and Ejari certificate.
- Location map of your office.
- Receipt for RERA course enrollment.
- RERA will issue a Registration Certificate upon approval.
5. Register with DNRD and the Ministry of Labor
- The final step is to register your Real Estate Brokerage Company with the Dubai Naturalization and Residency Department (DNRD) and the Ministry of Labor.
- This completes the process for obtaining your Commercial Brokerage License in Dubai.
By following these steps, you can successfully establish your real estate brokerage company and begin operations in Dubai’s thriving property market.
Cost of a Commercial Brokerage License in Dubai
Several variables affect the cost of obtaining a commercial brokerage license. They consist of the price of your office’s site, employees, and insurance charges, as well as license and visa fees. A license for commercial broking is available from as low as 12,500 AED*.
A Commercial Brokerage License in Dubai starts from approximately 12,500 AED*. The total cost may vary depending on several factors, including:
- The location and cost of your office.
- Salaries for employees.
- Insurance charges.
- License and visa fees.
These factors collectively determine the overall expenditure for obtaining and maintaining a commercial brokerage license. Contact Shuraa for a detailed and customized price quote based on your specific business needs.
Takeaway
As one of the cities with the fastest growth rates in the world there is a high demand for real estate. Real estate in both the commercial and residential sectors is included. Professional realtors are in high demand in the UAE, because of its offer of investor visas.
We are a group of professionals providing business setup services in Dubai, UAE with the guidance of our expert team of consultants.
With the assistance of business setup consultants at Shuraa, you can obtain your commercial real estate brokers license and expert assistance for your business setup in Dubai. Contact our business setup consultants for a free consultation at +971 44081900, WhatsApp us on +971 507775554 or email us at [email protected].
