Better Homes had received more than 10,000 CVs for a range of roles over the past 12 months. Lauren Lancaster / The National
Better Homes had received more than 10,000 CVs for a range of roles over the past 12 months. Lauren Lancaster / The National

Property brokers staffing up in Dubai with market resurgent



Dubai property brokers are hiring hundreds of sales agents to cope with surging transaction volumes amid job recruiter claims of monthly pay topping Dh70,000.

Dubai's largest realtor, Better Homes, said yesterday that it had increased its number of agents by 100 to more than 250 during the past year and planned to recruit150 more this year as the market rebounds.

"The demand from the market is there, and has been for some time," said Ryan Mahoney, the chief executive. "We are matching what our customers want, and that is more agents on the ground."

Mario Volpi, the head of sales and leasing at Cluttons' estate agency branch in Dubai added that he was hoping to increase the number of agents in the brokerage by about half."The market is so buoyant at the moment that all the main agencies are trying to increase staff numbers by between 25 and 50 per cent," he said. "The problem is finding the right people."

Demand for estate agents in Dubai is so great that Smith & Ken, another broker, is again advertising positions in the UK.

The British recruitment agent Reed is advertising for five sales negotiators, 10 lettings negotiators and seven property managers at Smith & Ken through notices exclaiming "The Dubai property market is back. Property agents are earning £150,000 [Dh850,000]a year again."

According to Asteco, average apartment prices in Dubai rose 27 per cent in the year to March and average villa prices rose 24 per cent over the same period. It said that during the first quarter, sale prices for flats and villas rose 12 per cent and 5 per cent, respectively.

The Dubai estate agent Hamptons said yesterday that it closed 41 per cent more deals in the first three months of the year compared with a year earlier.

It said the total value of those transactions was 38 per cent higher than the total for the same period last year.

These numbers can mean big money for Dubai's estate agents who, since the global financial crisis, typically work for little or no salary but take home as much as half of the 4 per cent sales commission made by their brokerages on each deal they complete. That means that for a Dh2 million villa sale, a broker could personally pocket Dh40,000.

The Better Homes head of human resources, Partho Bhattacharya, said that his company had received more than 10,000 CVs for a range of roles over the past 12 months.

"Agents and entrepreneurial minds are seeing the turnaround in the market, and we have received more CVs in the past year than in 2011 and 2012 combined," he said.

But with speculators returning to the market and more commentators suggesting that Dubai's housing market is again entering bubble conditions and heading for a crash, Mr Volpi points out that the career is not one for the fainthearted.

"People back in the UK think that being an estate agent is easy and it's just like being on holiday every weekend but the fact of the matter is that it's a tough life and of all the people who are recruited there is a big drop-off rate," he says. "If the market turns and you're only selling one property a month or two then how long can you go on for? Lots of people came over before the downturn and their experience has been so bad and they have been so jaded that they will never come back."

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Name: The Concept

Founders: Yadhushan Mahendran, Maria Sobh and Muhammad Rijal

Based: Abu Dhabi

Founded: 2017

Number of employees: 7

Sector: Aviation and space industry

Funding: $250,000

Future plans: Looking to raise $1 million investment to boost expansion and develop new products

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TWISTERS

Director:+Lee+Isaac+Chung

Starring:+Glen+Powell,+Daisy+Edgar-Jones,+Anthony+Ramos

Rating:+2.5/5

THE BIO

Occupation: Specialised chief medical laboratory technologist

Age: 78

Favourite destination: Always Al Ain “Dar Al Zain”

Hobbies: his work  - “ the thing which I am most passionate for and which occupied all my time in the morning and evening from 1963 to 2019”

Other hobbies: football

Favorite football club: Al Ain Sports Club

 

COMPANY PROFILE

Company name: OneOrder
Started: March 2022
Founders: Tamer Amer and Karim Maurice
Based: Cairo
Number of staff: 82
Investment stage: Series A

About Okadoc

Date started: Okadoc, 2018

Founder/CEO: Fodhil Benturquia

Based: Dubai, UAE

Sector: Healthcare

Size: (employees/revenue) 40 staff; undisclosed revenues recording “double-digit” monthly growth

Funding stage: Series B fundraising round to conclude in February

Investors: Undisclosed

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John Zubrzycki, Hurst Publishers

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N Sciver 51; J Goswami 3-23

India 219, 48.4 overs
P Raut 86, H Kaur 51; A Shrubsole 6-46

England won by nine runs

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What is myofascial pain syndrome?

Myofascial pain syndrome refers to pain and inflammation in the body’s soft tissue. MPS is a chronic condition that affects the fascia (­connective tissue that covers the muscles, which develops knots, also known as trigger points).

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Releasing these nodules requires a hands-on technique that involves applying gentle ­sustained pressure to release muscular shortness and tightness. This eliminates restrictions in ­connective tissue in orderto restore motion and alleviate pain. ­Therapy balls have proven effective at causing enough commotion in the tissue, prompting the release of these hard knots.

Day 1, Dubai Test: At a glance

Moment of the day Sadeera Samarawickrama set pulses racing with his strokeplay on his introduction to Test cricket. It reached a feverish peak when he stepped down the wicket and launched Yasir Shah, who many regard as the world’s leading spinner, back over his head for six. No matter that he was out soon after: it felt as though the future had arrived.

Stat of the day - 5 The last time Sri Lanka played a Test in Dubai – they won here in 2013 – they had four players in their XI who were known as wicketkeepers. This time they have gone one better. Each of Dinesh Chandimal, Kaushal Silva, Samarawickrama, Kusal Mendis, and Niroshan Dickwella – the nominated gloveman here – can keep wicket.

The verdict Sri Lanka want to make history by becoming the first team to beat Pakistan in a full Test series in the UAE. They could not have made a better start, first by winning the toss, then by scoring freely on an easy-paced pitch. The fact Yasir Shah found some turn on Day 1, too, will have interested their own spin bowlers.

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COMPANY PROFILE

Name: SmartCrowd
Started: 2018
Founder: Siddiq Farid and Musfique Ahmed
Based: Dubai
Sector: FinTech / PropTech
Initial investment: $650,000
Current number of staff: 35
Investment stage: Series A
Investors: Various institutional investors and notable angel investors (500 MENA, Shurooq, Mada, Seedstar, Tricap)

Company Profile

Company name: Hoopla
Date started: March 2023
Founder: Jacqueline Perrottet
Based: Dubai
Number of staff: 10
Investment stage: Pre-seed
Investment required: $500,000

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Translated from the French and Creole by Linda Coverdale

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Brighton 1
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Tottenham 1
Kane (48)

The specs

Engine: 3.9-litre twin-turbo V8
Power: 620hp from 5,750-7,500rpm
Torque: 760Nm from 3,000-5,750rpm
Transmission: Eight-speed dual-clutch auto
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What is dialysis?

Dialysis is a way of cleaning your blood when your kidneys fail and can no longer do the job.

It gets rid of your body's wastes, extra salt and water, and helps to control your blood pressure. The main cause of kidney failure is diabetes and hypertension.

There are two kinds of dialysis — haemodialysis and peritoneal.

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Thursday Beat Sydney 2-0 in Sydney

Saturday v Western Sydney Wanderers in Sydney

Wednesday v Bayern Munich in Shanghai

July 22 v Chelsea in Beijing

July 29 v Benfica in London

July 30 v Sevilla in London

Squads

Sri Lanka Tharanga (c), Mathews, Dickwella (wk), Gunathilaka, Mendis, Kapugedera, Siriwardana, Pushpakumara, Dananjaya, Sandakan, Perera, Hasaranga, Malinga, Chameera, Fernando.

India Kohli (c), Dhawan, Rohit, Rahul, Pandey, Rahane, Jadhav, Dhoni (wk), Pandya, Axar, Kuldeep, Chahal, Bumrah, Bhuvneshwar, Thakur.

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Manchester City 6
(D Silva 26', Sterling 38', 81', 87', De Bruyne 61', Jesus 68')

Watford 0

Man of the match: Bernardo Silva (Manchester City)

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High fever (40°C/104°F)
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Author: Eric Broug
Publisher: Thames & Hudson
Pages: 336
Available: September