Did you know that the UAE is home to over 200 nationalities and is one of the most visited places in the world? All of those people need places to stay, venues to keep them entertained, and retail stores to shop in. If you have been wanting to get into the real estate industry, there’s no better place than the hugely populated and heavily visited city of Dubai.
There are so many key players involved in the real estate industry in UAE – from developers to landlords, the construction crews, real estate agents, and tenants. As you can see, there are many levels you can get involved in this business sector. Let MSZ Consultancy help you through the entire process so you won’t have any problems getting your business started.
What Real Estate Markets Are Big in the UAE?
The UAE is known for being extremely business-friendly and making changes to better serve each sector. The same is true for the real estate industry in Dubai. Over the past several years, the UAE has seen a huge demand for real estate and has taken steps to diversify the industry.
Here are the areas available for investors: Office Market: There’s a huge demand for office space due to the growing economy and entrepreneurs coming to the UAE to start their businesses. That’s why many investors choose to get into the office market. This area includes full office spaces as well as co-working spaces and turn-key office solutions.
Industrial and Logistics Market: As you know, not all businesses are office jobs. While the need for office space has increased, so has the demand for warehousing. The government has taken the necessary steps to improve the warehousing and logistics sector to bring more revenue into the city.
Retail Market: Retail is one of the top contributors to the nation’s economy. This can be any form of retail, from luxurious shopping that attracts tourists or grocery stores that cater to the locals. There’s still a high demand for new malls throughout the UAE and several that are under construction.
Hospitality Market: Tourism has made a huge impact on the hospitality sector. Of course, there needs to be proper land and space for hospitality businesses like hotels and attractions to build. This high demand for space has made hospitality real estate a big market in Dubai.
Residential Market: Tourists aren’t the only people that are coming to Dubai, so are more and more people wanting to live there. The population has made a drastic jump over the years, causing the need for residential real estate to increase.
How Can I Start a Real Estate Business in Dubai?
If you’re ready to get started in building a real estate business in Dubai, we are ready to help get you started. MSZ Consultancy will be here from start to finish to ensure your business is successfully up and running in no time.
Here are the steps it takes to develop a real estate business in Dubai: Find a location Your business can be in the Mainland, FreeZone, or Offshore.
Decide on a business structure
- Sole Proprietorship
- General Partnership
- Partnership-en-Commendam
- Joint Venture
- Public Shareholding
- Private Shareholding
- Limited Liability Company
- Professional Company
Finalize the trade name with the Department of Economic Development The name must include “Real Estate” or “Broker” in the title.
How Much Does It Cost to Start a Real Estate Brokerage Business in Dubai?
There are several different factors that will go into starting a real estate business in Dubai. For instance, the business activity you will be doing, your company size, and what location you choose to start your business in will all play a huge role in the cost. A good estimate to open a real estate company in Dubai starts around AED 21,000. Again, this can all change depending on government fees and your business activities.
If you plan on opening a real estate brokerage, then the brokers or agents will have to be certified by the Real Estate Brokers Registration (RERA). That’s another fee that you should expect to pay. The cost of the exam will depend on your educational background:
- Bachelor’s degree holders – AED 3,200
- Non-Bachelor’s degree holders – AED 6,300
- No educational qualifications – AED 15,750
You can get your real estate brokerage license after you’ve completed your RERA training. This starts at around AED 12,950. Keep in mind, these numbers are just an estimate. If you want a more concrete quote on how much it will be to start your business in the real estate industry in UAE, give MSZ Consultancy a call today at +971 50 487 2208.
Corporate Business Solutions for All Your Needs
At MSZ Consultancy, we take pride in being the one and only stop that you will need to make for all your business solutions. We don’t just help you setup your company, we stick around to offer simple solutions to help your business succeed.
Trade License
In order to have a business in Dubai, you will need a trade license to make your company legal. We will make sure you meet all the requirements and paperwork needed to get your license without any issues.
Local Sponsorship
If you need a local sponsor for your business, we can help with that too. We have connections with the most trustworthy and reliable local sponsors that will help your business with any legal issues and own 51% of the business.
Bank Account Assistance
We can help you open a corporate bank account to secure your monetary assets. The process to open an account varies from bank to bank, so let us help make sure you have everything you need to get your corporate business account open.
Business Centers
Finding office space can be hard if you’re not familiar with the area. We have Business Centers located in strategic spots throughout Dubai. We can easily help you find an office, warehouse, building, or whatever it is to meet all the needs of your company.
E Trader License
If you want to run your business from your home and sell your products on social media, then you will need a special license to do so. It’s called an E trader license. Let MSZ Consultancy make sure your business is suited for this license and guide you through the entire process to get started.
PRO Services
We can take care of tedious paperwork for you too! Our Public Relations Officer (PRO) services can handle all of your documentation and clearing services so you can focus on the other important parts of your business.
Product Registration
If you plan on manufacturing and distributing products in Dubai, then you will need to get them registered. We are very familiar with product registration and can guide you through the process so you can quickly get your products ready to be sold.
Company Liquidation
There are several legal procedures you have to go through to end your company. Our legal team can help guide you through the entire process. Let us help you minimize your possible financial losses.
MSZ Consultancy Can Help Build and Grow Your Real Estate Business
If you have a plan for a real estate business in Dubai, let’s get started on making that plan become a real business. We have over 32,000 happy clients under our belt who we have helped build their business from the ground up, and we can help you too! Don’t wait! Call us today at +971 50 487 2208 for a FREE consultation and see how we can help make your business dream become a reality.
