Dubai has become famous for its real estate market, which gives favorable opportunities to entrepreneurs looking to start a real estate business in Dubai. As buyers and investors, Dubai can be your ideal location for setting up a real estate business. You can find many options for properties, including residential,  commercial, and retail spaces. However, property management is much more ideal. who chose to look after rental properties on behalf of owners. Therefore, real estate business development would mean that you are buying land and building properties on it for sale and rent. So let’s start with how a real estate business setup in Dubai can benefit and what process you need to follow. 

Types of real estate business

1. property brokerage

With this type of business, your main focus will be selling properties to buyers and sellers. You will have a staff who will look for prospective clients and initiate deals with them. However, this requires ground knowledge of market rates and experience in property dealing.

2. Property management  

Property management business implies that you will take care of properties that are owned by different owners.  You will look for options to extend the lease or assist the client in selling properties when it expires. Effective skills and managerial abilities are vital to running this business. 

3. Land development 

Properties for land development are planned by land developers. They ensure that all projects go smoothly and the finished results meet all the objectives. For the projects, you need to hire experts in the fields of engineering, architecture, construction, and marketing. 

Essential license required to start a real estate business in Dubai

Upon deciding the type of business you wish to begin with, the next process will be to obtain your license. Unlike other countries, obtaining a license in Dubai is quite easy, which makes setting up a business in Dubai more easy. You can start with an online application.

RERA license 

In Dubai, the real estate sector is governed by the Real Estate Regulatory Authority (RERA).  That keeps a constant eye on activities about the buying and selling of real estate. It is a law that requires everyone to conform to. 

To obtain an RERA license, you need to have documents and information ready beforehand.

• Proof validating your clear examination result for the real estate exam

• Validation that you are qualified to work in the field 

• Document containing proper financial statements 

• Passport copy

• Office space 

• All the list of staff members working under you 

• Contract of consenting with rules and regulations

What is the cost of setting up a real estate business?

As we are familiar with, setting up a business in Dubai is easy, but the cost of getting a license entirely depends upon what type of business you have chosen to work with. Other aspects also add to these factors, like how much capital you have to invest and several employees. 

How to start a real estate business in Dubai? 

To start a real estate business in Dubai, you must have a thorough plan. Make a plan and gather all necessary documents and paperwork beforehand to avoid further risk. 

Take the step-by-step process to begin with your business.

Step 1: Business type 

Choose the right type of real estate business you want to work on. However, real estate brokerage is the most famous among entrepreneurs. But if you have a lot to invest in, then property management might be a wise option. 

Step 2: Be ready with all essential documents that are the gateway for you to establish a real estate business, including your clear criminal background, and letter of recommendation. 

Step 3: License 

Hire a professional who knows about all the legalities for getting the license. This will not only save you time but also prevent you from making any costly mistakes. 

Step 4: Be ready with the essential documents required to obtain a license because this is necessary to avoid any delay. 

Step 5: Office space 

Find a suitable office location to begin with the operations of your business. Be wary of the situation because success hinges on the location you choose for your business. That can attract various clients to your business. 

Step 6: Be aware of the industry trends and make friendly relations with real estate agencies. With this, you can grow your online presence strongly and expect better outcomes. 

Step 7: Take the real estate examination test because doing so will give you confidence that you have the appropriate knowledge and skills.

Benefits of starting a real estate business in Dubai 

Starting a real estate business in Dubai gives many benefits. Explore how you can benefit from them.

Better opportunities  

The vibrant nature of the real estate business has led to many entrepreneurs invest in properties.  Indicating that services for real estate will only see the uprise shortly. And if you wish to set up a business in Dubai, the real estate business can be your best choice overall. 

High returns 

Better infrastructure and better places add to the beauty of the UAE and give opportunities to investors. You can easily buy land or properties in the region. You can earn a high return on your investment through a real estate company.

Straightforward license process  

You can easily launch your real estate business in Dubai with a simplified process. However, you need to pass the exam for real estate because the government permits only qualified individuals. But after you qualify for the exam, the process becomes even easier. 

How can the Flyingcolour business setup help you? 

Business setup in Dubai is quite challenging, and if you opt for a real estate company, this requires further skills and knowledge about market rates and trends. But this certainly doesn’t mean that you cannot start your real estate company. Using the right guidance and resources, anything can be done. Choose Flyingcolour business setup as your partner. As a business consulting firm, we establish strong relationships with our clients, making sure their investments don’t go to waste. Contact us to get more information about us.