{"id":23998,"date":"2019-02-20T15:50:14","date_gmt":"2019-02-20T11:50:14","guid":{"rendered":"https:\/\/www.propertyfinder.ae\/blog\/?p=23998"},"modified":"2022-08-31T14:43:53","modified_gmt":"2022-08-31T10:43:53","slug":"486-property-firms-exit-dubai-in-2018","status":"publish","type":"post","link":"https:\/\/www.propertyfinder.ae\/blog\/486-property-firms-exit-dubai-in-2018\/","title":{"rendered":"486 property firms exit Dubai in 2018"},"content":{"rendered":"<figure class=\"wp-block-image\"><img decoding=\"async\" width=\"700\" height=\"450\" src=\"https:\/\/www.propertyfinder.ae\/blog\/wp-content\/uploads\/2019\/02\/PR_Blog_Feb_2019.jpg\" alt=\"Consolidation in the real estate brokerage industry will help improve transparency for buyers and tenants.\" class=\"wp-image-24031\" srcset=\"https:\/\/www.propertyfinder.ae\/blog\/wp-content\/uploads\/2019\/02\/PR_Blog_Feb_2019.jpg 700w, https:\/\/www.propertyfinder.ae\/blog\/wp-content\/uploads\/2019\/02\/PR_Blog_Feb_2019-400x257.jpg 400w, https:\/\/www.propertyfinder.ae\/blog\/wp-content\/uploads\/2019\/02\/PR_Blog_Feb_2019-300x193.jpg 300w\" sizes=\"(max-width: 700px) 100vw, 700px\" \/><\/figure><h2 class=\"wp-block-heading\">A total of 3,680 brokerages currently operate in the market <\/h2><p>A record\n486 property companies and real estate brokerages that were in business in 2017\nhave failed to renew their licenses for 2018. Now, a total of 3,680 brokerages\nstand strong in a market that is consolidating and refining its talents and\nofferings.<\/p><p>Property Finder released the aggregate results of figures from Dubai Pulse, the open data platform initiative from the Smart Dubai Office.<\/p><p>With a 12\npercent decrease from 2017 to 2018, registered property companies have\ncontinued to exit the market as stronger players emerge with a focus on\ncustomer service, data, knowledge and information.<\/p><p>The Dubai\nPulse data below shows the statistics of Dubai&rsquo;s real estate market throughout\n2018:<\/p><ul class=\"wp-block-list\"><li>The number of agents have\nincreased by 4% to 6,473<\/li><li>On average, firms in the\nreal estate industry have reduced by 8% year-on-year for the past 2 years<\/li><li>486 property companies and\nreal estate brokerages exited the market in 2018<\/li><li>Despite exits, compared to\n2008, the number of licensed brokerages has grown by 129%<\/li><\/ul><p>According to Lukman\nHajje, Group Chief Commercial Officer, Property Finder, &ldquo;This is a sign of\nmuch-needed consolidation in the industry. Fly-by-night operators who realised\nthat their business model is no longer viable have been weeded out. This is a\npositive for the industry and only bonafide property companies with verified\ncredentials will continue to operate, making the market more streamlined and\ntransparent. This is a win-win situation for both buyers, sellers and all\nproperty stakeholders.&rdquo;<\/p><h2 class=\"wp-block-heading\">Sign of consolidation<\/h2><blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\"><p>Fly-by-night operators who realised that their business model is no longer viable have been weeded out<\/p><\/blockquote><p>&ldquo;Over the past few years,\nwe have seen many signs of a maturing real estate market in Dubai and this is\nindeed one of them. We have always had an exorbitant number of agencies in this\nmarket, therefore the fact that the number of agencies is reducing is a\npositive sign, leaving opportunity for the more experienced and professional\ncompanies to grow &rdquo; says Lynnette Abad, Director Data and Research for Property\nFinder.<\/p><hr class=\"wp-block-separator\"><p><\/p>\n","protected":false},"excerpt":{"rendered":"<p>A total of 3,680 brokerages currently operate in the market 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. Property Finder&#8230;<\/p>\n","protected":false},"author":30203,"featured_media":24031,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_eb_attr":"","footnotes":""},"categories":[1231,1],"tags":[],"class_list":["post-23998","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-inside-propertyfinder","category-real-estate"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v21.0 (Yoast SEO v22.5) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>486 property firms exit Dubai in 2018 - Property Finder Blog UAE<\/title>\n<meta name=\"description\" content=\"A total of 3,680 brokerages currently operate in the market A record 486 property companies and real estate brokerages that were in business in 2017 have\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" 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