Trade Arabia

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Stronger players ’emerge winners in Dubai property sector’

With a 12 per cent decrease from 2017 to 2018, registered property companies have continued to exit the market as stronger players emerge with a focus on customer service, data, knowledge and information, said a report by Property Finder, a leading UAE-based real estate portal.

A record 486 property companies and real estate brokerages that were in business in 2017 have failed to renew their licences for 2018, stated the portal in its latest report citing aggregate results of figures from Dubai Pulse, the open data platform initiative from the Smart Dubai Office, which are based on the fluctuations of the number of agents and real estate brokerages in Dubai.

True to the adage, Survival of the Fittest, now, a total of 3,680 brokerages stand strong in Dubai’s property market, which is consolidating and refining its talents and offerings.

The Dubai Pulse data below shows the statistics of Dubai’s real estate market throughout 2018:
•The number of agents have increased by four per cent to 6,473;
•On average, firms in the real estate industry have reduced by eight per cent year-on-year for the past two years;
•486 property companies and real estate brokerages exited the market in 2018;
•Despite exits, compared to 2008, the number of licensed brokerages has grown by 129 per cent.