Six business groups focusing on the real estate sector are introduced by the Dubai Chamber of Commerce

Dubai Chamber

Six business groups specifically focused on the real estate sector have been established, according to the Dubai Chamber of Commerce, one of the three chambers operating under Dubai Chambers.

The new groups concentrate on businesses involved in the real estate industry, such as developers, evaluators, renters, facility managers, interior decorators and interior designers, and engineering consultants. The Business Groups serve as forums for a productive discussion between stakeholders in the public and private sectors, assisting businesses in the real estate sector in taking advantage of new opportunities, overcoming challenges at the industry level, and addressing policy issues that have an impact on this burgeoning market.

“With the emirate’s promising economic prospects for 2023, we are confident that Dubai’s real estate market will continue to enjoy strong end-user demand and investment support. Additionally, by utilizing Dubai’s Economic Agenda (D33), we expect significant opportunities for residential and infrastructure development to support the emirate’s economy while investment and spending for office, industrial, tourism, and retail properties will increase even further; particularly given that Dubai’s population is predicted to reach 5.8 million by 2040. Our new Business Groups representing six important real estate sectors are created to maximize growth and diversification in this vital market,” he added.

In partnership with the Dubai Chamber of Commerce, the Dubai Land Department helped establish new company groups and identify their economic activity. “We applaud the establishment of real estate business groups that will operate within the Dubai Chamber of Commerce’s governance structure. The launch of the business groups is aligned with our role of spreading real estate Sharjah will invite the private sector to develop government-owned land in order to stimulate the real estate market knowledge and promoting the culture of conducting sound business to the highest internationally recognized standards. Real estate business groups will provide new avenues for constructive debate as well as educational and networking forums for members to engage with key stakeholders, including the Land Department, to influence policymaking and ensure a bright real estate future,” said Sultan Butti Bin Mejren, Director General of the DLD.

Both the rent and sales rates increased dramatically in 2022 for real estate segments like hospitality, residential, retail, office space for enterprises, and industrial space. According to CBRE, 88 percent of Dubai’s office buildings were occupied as of Q4 2022, an increase of 10% over the same time in 2017.
The creation of the six real estate business groups is a component of the Dubai Chamber of Commerce’s plan to establish 100 sector-specific business groups by March 2023 in order to increase the competitiveness of the business community both domestically and abroad. Dubai Chamber

Join The Discussion

Compare listings