Skip to content Skip to Search
Skip navigation

CEO calls for regulation to raise Dubai real estate standards

By Shruthi Nair

Loai Al Fakir, founder and CEO of Provident Real Estate, says a lack of regulation and a culture of kickbacks, in which agents are asked to forgo commission, is damaging the real estate industry in Dubai.

“When the agent’s not compensated for his efforts at work, it devalues the whole industry,” he says.

“If we’re getting paid peanuts, we’re going to have monkeys.”

Watch the video to find out more.

More videos from AGBI

Latest articles

Dubai alcohol tax

Dubai distributor to swallow 30% tax on alcohol brands

One of the main alcohol distributors in Dubai, Maritime and Mercantile International (MMI), has promised to absorb on some of its most popular brands the 30 percent tax that was reinstated on alcoholic drinks from January 1. The Dubai Municipality tax on alcoholic beverages was suspended from the start of 2023, continuing into 2024. It […]

A copper wire factory in China's Jiangsu Province. While global demand for copper has risen, it has weakened in China, affecting prices

Oman resumes copper exports as global demand rises

Minerals Development Oman (MDO) has resumed exporting copper from the Lasail mine in Sohar with its first shipment in nearly 30 years.  The mine, developed by Oman Mining Company, a subsidiary of MDO, produces an average of 500,000 tonnes of copper ore per year.  MDO said it also plans to initiate operations at the Al […]

unlicensed Saudi hospitality facilities

Clampdown begins on Saudi’s unlicensed hospitality

Travel and tourism service providers and booking platforms have been ordered by Saudi Arabia’s Ministry of Tourism to remove unlicensed hospitality facilities from their listings or “face penalties”.  The ruling, which came into effect from January 1, is to ensure outlets offering hospitality meet a certain standard, the ministry said in a statement.  It urged […]

The appointment of Ahmed Al Musalmi as governor of the Central Bank of Oman was confirmed in a royal decree by Sultan Haitham bin Tariq al Said

Oman appoints Al Musalmi to head central bank

Ahmed Al Musalmi has been appointed governor of Oman’s central bank as the sultanate continues to diversify its economy away from a reliance on hydrocarbons. The appointment was confirmed in a royal decree by Sultan Haitham bin Tariq al Said. Sayyid Asaad bin Tariq Al Said has been named chairman of the board of directors […]