Survival of the Fittest in Dubai’s Property Market
UAE based real estate portal Property Finder released the aggregate results of figures from Dubai Pulse, the open data platform initiative from the Smart Dubai Office, which is based on the fluctuations of the number of agents and real estate brokerages in Dubai.
A record 486 property companies and real estate brokerages that were in business in 2017 have failed to renew their licenses for 2018. Now, a total of 3,680 brokerages stand strong in a market that is consolidating and refining its talents and offerings.
With a 12 percent 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.