Dubai is taking steps to increase the participation of Emiratis as real estate brokers in upcoming project launches by developers.
In the initial phase of a tie-up with nine leading developers, the Dubai Land Department (DLD) will seek to allocate between 10 per cent and 15 per cent of units to be sold by Emirati brokers, the regulator said on Sunday.
The DLD has brought on board nine developers – Emaar, Expo Dubai, Deyaar, Damac, Azizi, MAG, Sobha Realty, Ellington Properties and Al Bait Al Duwaliy Real Estate Development – for this programme.
This comes under the Dubai Real Estate Broker Programme unveiled to increase Emiratis’ participation and incentivise their involvement in the market, the DLD said.
The agreement aims to enhance the competitiveness of Emirati professionals and support their roles in the sector.
“We are excited to work and collaborate with our real estate partners to achieve exceptional results that reflect the real estate sector’s unique position in Dubai,” said Marwan bin Ghalita, the acting director general of DLD.
Dubai’s property market rebounded strongly from the coronavirus pandemic slowdown on the back of government measures, higher oil prices and strong investor demand.
In 2023, Dubai registered a record 17 per cent annual jump in real estate transactions to 1.6 million across market segments, the latest data from the DLD showed.
The overall number included real estate deals from investments, mortgages and sales transactions to rental contracts recorded last year, up from about 1.3 million transactions reported in 2022.
Last year, the value of real estate deals in the emirate reached Dh634 billion ($172.6 billion), an annual growth of 20 per cent.
Property consultancy Knight Frank said in a February report that prices of prime residential properties in Dubai rose by more than 16 per cent last year, the second-fastest pace globally.
Despite the record sales of luxury homes last year, Dubai is still ranked towards the bottom end of the most expensive prime markets globally, the report said.
In the next phase of the Dubai Real Estate Broker Programme, the DLD said it will seek to establish partnerships with additional developers and real estate brokers to qualify more Emiratis to work in the property sector.
It will also lead to more Emiratis taking on employment with developers under the second phase.
“The agreement also involves collaboration on joint projects with the DLD to advance the real estate sector and foster a culture of innovation and sustainability,” it said.
“Additionally, it entails working with the DLD to provide guidance, professional training and support for national talents, attracting them to the private sector and enhancing their specialised skills to establish their businesses in the real estate market.”
if you go
The flights
Flydubai flies to Podgorica or nearby Tivat via Sarajevo from Dh2,155 return including taxes. Turkish Airlines flies from Abu Dhabi and Dubai to Podgorica via Istanbul; alternatively, fly with Flydubai from Dubai to Belgrade and take a short flight with Montenegro Air to Podgorica. Etihad flies from Abu Dhabi to Podgorica via Belgrade. Flights cost from about Dh3,000 return including taxes. There are buses from Podgorica to Plav.
The tour
While you can apply for a permit for the route yourself, it’s best to travel with an agency that will arrange it for you. These include Zbulo in Albania (www.zbulo.org) or Zalaz in Montenegro (www.zalaz.me).
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'My Son'
Director: Christian Carion
Starring: James McAvoy, Claire Foy, Tom Cullen, Gary Lewis
Rating: 2/5
Desert Warrior
Starring: Anthony Mackie, Aiysha Hart, Ben Kingsley
Director: Rupert Wyatt
Rating: 3/5
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Our legal consultant
Name: Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants.
COMPANY%20PROFILE
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The specs
Engine: 2-litre 4-cylinder and 3.6-litre 6-cylinder
Power: 220 and 280 horsepower
Torque: 350 and 360Nm
Transmission: eight-speed automatic
Price: from Dh136,521 VAT and Dh166,464 VAT
On sale: now
TOURNAMENT INFO
Fixtures
Sunday January 5 - Oman v UAE
Monday January 6 - UAE v Namibia
Wednesday January 8 - Oman v Namibia
Thursday January 9 - Oman v UAE
Saturday January 11 - UAE v Namibia
Sunday January 12 – Oman v Namibia
UAE squad
Ahmed Raza (captain), Rohan Mustafa, Mohammed Usman, CP Rizwan, Waheed Ahmed, Zawar Farid, Darius D’Silva, Karthik Meiyappan, Jonathan Figy, Vriitya Aravind, Zahoor Khan, Junaid Siddique, Basil Hameed, Chirag Suri
Ten tax points to be aware of in 2026
1. Domestic VAT refund amendments: request your refund within five years
If a business does not apply for the refund on time, they lose their credit.
2. E-invoicing in the UAE
Businesses should continue preparing for the implementation of e-invoicing in the UAE, with 2026 a preparation and transition period ahead of phased mandatory adoption.
3. More tax audits
Tax authorities are increasingly using data already available across multiple filings to identify audit risks.
4. More beneficial VAT and excise tax penalty regime
Tax disputes are expected to become more frequent and more structured, with clearer administrative objection and appeal processes. The UAE has adopted a new penalty regime for VAT and excise disputes, which now mirrors the penalty regime for corporate tax.
5. Greater emphasis on statutory audit
There is a greater need for the accuracy of financial statements. The International Financial Reporting Standards standards need to be strictly adhered to and, as a result, the quality of the audits will need to increase.
6. Further transfer pricing enforcement
Transfer pricing enforcement, which refers to the practice of establishing prices for internal transactions between related entities, is expected to broaden in scope. The UAE will shortly open the possibility to negotiate advance pricing agreements, or essentially rulings for transfer pricing purposes.
7. Limited time periods for audits
Recent amendments also introduce a default five-year limitation period for tax audits and assessments, subject to specific statutory exceptions. While the standard audit and assessment period is five years, this may be extended to up to 15 years in cases involving fraud or tax evasion.
8. Pillar 2 implementation
Many multinational groups will begin to feel the practical effect of the Domestic Minimum Top-Up Tax (DMTT), the UAE's implementation of the OECD’s global minimum tax under Pillar 2. While the rules apply for financial years starting on or after January 1, 2025, it is 2026 that marks the transition to an operational phase.
9. Reduced compliance obligations for imported goods and services
Businesses that apply the reverse-charge mechanism for VAT purposes in the UAE may benefit from reduced compliance obligations.
10. Substance and CbC reporting focus
Tax authorities are expected to continue strengthening the enforcement of economic substance and Country-by-Country (CbC) reporting frameworks. In the UAE, these regimes are increasingly being used as risk-assessment tools, providing tax authorities with a comprehensive view of multinational groups’ global footprints and enabling them to assess whether profits are aligned with real economic activity.
Contributed by Thomas Vanhee and Hend Rashwan, Aurifer
