Saturday, January 27, 2007

Major property players to launch Real Estate Institute

The major property giants in Dubai have come together in establishing a real estate Institute. The officials from property companies of Dubai Holdings – Sama Dubai, Tatweer, and Dubai Properties are likely to be among the Board of Directors, while Emaar India, Dubai Islamic Bank, Emaar and Dubai World have entered as shareholders.

With a tremendous growth in the property market in the emirate and in the Gulf regions, the industry is experiencing a shortage of skilled professionals. The Dubai Land Department recently issued broker certificates to eliminate unprofessional units in the industry.

The new Institute looks forward to establish partnerships with other major groups and is also in the process of finalizing plans with Universities for offering specific courses related to the industry.

The courses will address the real estate markets in Asia, Mena, Turkey and Europe and comprises study of property development, real estate processes, principles of evaluation and finance in the real estate market.

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