Dubai Chamber of Commerce Launches Real Estate Sector-Specific Business Groups
Dubai Chamber of Commerce, one of the three chambers operating under Dubai Chambers, has unveiled the establishment of six real estate sector-specific business groups. The new groups focus on companies operating within the real estate sector, including real estate developers, real estate valuation, real estate leasing, facility management, interior decoration / interior design services and engineering consultants. The Business Groups are platforms for constructive dialogue between stakeholders in the private and public sectors, helping companies within the real estate field tap into new opportunities, tackle industry-level challenges and address policy matters that impact this thriving market. The Dubai Land Department assisted in the formation of the new business groups and in identifying their economic activities in collaboration with Dubai Chamber of Commerce. "We welcome the formation of real estate business groups that will work under the governance framework of Dubai Chamber of Commerce. The launch of the business groups is aligned with our role of spreading real estate knowledge and promoting the culture of conducting sound business to the highest internationally recognized standards. Real estate business groups will provide new avenues for constructive debate as well as educational and networking forums for members to engage with key stakeholders, including the Land Department, to influence policymaking and ensure a bright real estate future," said Sultan Butti Bin Mejren, Director General of the Dubai Land Department. The rent and sales rates for real estate segments such as hospitality, residential, retail, commercial office space and industrial space all saw a significant increase in 2022. According to CBRE, occupancy rates in Dubai's office properties until Q4 2022 reached 88 percent, a 10 percent increase on the previous year's results. The launch of the six real estate business groups comes as part of Dubai Chamber of Commerce’s plan to establish a 100 sector-specific business groups by March 2023 to develop the private sector’s contribution to sustainable development and boost the business community’s competitiveness within Dubai’s economy and further afield.
Tags : Dubai Chamber of Commerce real estate Dubai Land Department launch business real estate