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According to statistics released by the department, the Dubai Land Department issued a total of 9,047 real estate licenses and 6,479 real estate licenses in 2022, an increase of 46.6 percent and 53 percent, respectively, compared to 2021.
The high growth in permits and licenses reflects growing demand from global real estate investors driven by strong growth prospects in Dubai and high return prospects in the local market.
This growth also reflects the efforts of the Dubai Land Department to provide quality services, further enhance the competitiveness of the real estate market and ensure that all stakeholders are protected.
Dubai’s real estate sector has maintained its exponential growth trajectory, with transactions reaching a record AED528 billion last year, an increase of 76.5% over 2021.
The largest number of DLD licenses in 2022 will be for online advertising with 7,947 licenses, followed by classified advertising (180), outdoor advertising (164), vehicle advertising (140), billboards (138), open houses Announcements (95), 84 text messages, 75 real estate publicity platforms, 50 print advertisements, and 38 project launching ceremonies.
Licenses are also issued for real estate seminars, promotional events, real estate exhibitions, advertisements and newspapers, etc.
The largest number of DLD licenses is real estate sales brokerage (2,308), followed by real estate leasing brokerage (1,570), transaction follow-up services (1,273), real estate administrative supervision services (491), and sales brokerage. Sale of land and real estate (299), real estate development (161) and commercial complexes (117).
Other major categories of licenses issued include jointly owned property management services, mortgage brokers and shopping centers, among others.
In order to realize its vision of transforming Dubai into the world’s best real estate investment destination, DLD has been working hard by providing seamless services, introducing supportive regulations, cultivating a digital ecosystem, integrating various data sources through partnerships, and enhancing its human resources ability to maintain the highest level of service excellence.
Driven by close collaboration between public and private stakeholders, the industry is poised for greater growth in the future.-TradeArabia News Service
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