The United Arab Emirates, with its towering skylines and luxurious developments, has long been a magnet for investors and residents seeking a slice of the dream. Experts forecast continued growth in the UAE’s real estate market, with anticipated price increases ranging from 3-7%, highlighting the market’s resilience and potential for investors and entrepreneurs.
Driving this growth is a robust demand for property, fueled by a thriving rental market and a steady influx of investors and residents. Dubai’s strong economic performance and reputation as a safe investment haven further amplify this demand, creating an ideal environment for real estate entrepreneurs.
Whether you dream of constructing iconic skyscrapers, facilitating seamless property transactions, or providing top-notch property management services, the UAE’s real estate sector has something for everyone.
Here are the business activities that you can select under your license when establishing your Real Estate business in the UAE:
6810.00 – Real estate activities with own or leased property
Real estate activities with own or leased property encompass a variety of operations involving the acquisition, management, and use of real estate assets either owned or leased by the business entity.
Included Activities:
- 6810.01 – Buying, selling, renting, and operating of self-owned or leased real estate: This involves acquiring properties such as apartment buildings, dwellings, non-residential buildings, and land through purchase or lease. These properties are then managed, rented out, or operated, which may include running malls, shopping centres, or other commercial spaces.
- 6810.02 -Provision of homes and furnished or unfurnished flats or apartments for more permanent use: This includes offering residential accommodations on a longer-term basis, typically through monthly or annual leases. It covers renting out residential units for permanent residence or extended stays.
- Development of building projects for own operation: This refers to constructing buildings with the intention of retaining ownership for operational purposes, such as renting out space within these buildings for commercial or residential use.
- Subdividing real estate into lots, without land improvement: This involves dividing parcels of land into smaller lots or plots for sale or lease without significant land improvement. It may include subdividing land for further development or sale to other parties.
- Operation of residential mobile home sites: This entails managing sites designated for residential mobile homes, and providing infrastructure and services for mobile home accommodation.
Excluded Activities:
These are activities not directly related to acquiring, managing, or utilising real estate assets for rental or operational purposes, including:
- Development of building projects for sale
- Subdividing and improving of land
- Operation of hotels, suite hotels, and similar accommodation
- Operation of campgrounds, trailer parks, and similar accommodation
- Operation of workers hostels, rooming houses, and similar accommodation
Third-party Approval: Activity 6810.00, including 6810.01 and 6810.02, need third-party approval from the Real Estate Registration Department, post-issuance of the license.
Filing of Economic Substance Return: Business activities 6810.00, 6810.01 and 6810.02 are exempt from this requirement.
Anti-Money Laundering Compliance: Business activities 6810.00, 6810.01 and 6810.02 must meet these requirements as they are considered ‘Designated Non-Financial Businesses and Professions’.
| Note: When you get a business license from SPC Free Zone, we facilitate the issuance of a No Objection Certificate (NOC) to lease facilities outside of the SPC Free Zone, enabling businesses to establish operations anywhere within the UAE. |
6820.00 – Real estate activities on a fee or contract basis
This refers to services provided within the real estate industry where compensation is received through fees or contractual arrangements. Essentially, this category covers services offered by professionals or firms that assist clients with various aspects of real estate transactions or management for a fee.
Included Activities:
- Activities of real estate agents and brokers (6820.01)
This involves intermediaries who facilitate real estate transactions between buyers and sellers. Real estate agents and brokers typically earn commissions based on the sale or lease of properties.
- Intermediation in buying, selling, and renting of real estate on a fee or contract basis (6820.02)
This includes services provided by intermediaries who assist clients in buying, selling, or renting real estate properties for a fee. These intermediaries may not be licensed agents or brokers but still provide similar services on a contractual basis.
- Management of real estate on a fee or contract basis (6820.03)
This involves the provision of property management services for real estate assets owned by others. Property management companies oversee the day-to-day operations, maintenance, and tenant relations for residential, commercial, or industrial properties in exchange for a fee.
- Appraisal services for real estate (6820.04)
This includes the valuation of real estate properties to determine their market worth. Real estate appraisers provide unbiased assessments of property values for various purposes, such as sales, purchases, refinancing, or taxation.
- Activities of real estate escrow agents (6820.05)
This involves acting as an intermediary in real estate transactions, holding funds or documents in escrow until specific conditions are met. Escrow agents ensure that all parties fulfil their obligations before the completion of a transaction.
- Real estate consultancy (6820.11)
- This includes advisory services provided by professionals or firms specialising in real estate. Real estate consultants offer expert guidance and analysis on various aspects of the real estate market, investment opportunities, property development, and strategic planning.
Excluded Activities:
- Legal activities
- Facilities support services
- Management of facilities, such as military bases, prisons, and other facilities (except computer facilities management)
Third-party Approval: Activity number 6820.00, along with codes 6820.01, 6820.02, 6820.03, 6820.04, 6820.05, and 6820.11 need third-party approval from the Real Estate Registration Department, post-issuance of the license.
Filing of Economic Substance Return: Business activities 6820.00, 6820.01, 6820.02, 6820.03, 6820.04, 6820.05, and 6820.11 are exempt from this requirement.
Anti-Money Laundering Compliance: Business activities 6820.00, 6820.01, 6820.02, 6820.03, 6820.04, 6820.05, and 6820.11 must meet these requirements as they are considered ‘Designated Non-Financial Businesses and Professions.
Did you find what you were looking for? Explore the other guides in our Activity Hub for exploring unique business ideas in Dubai and navigate the essentials of business setup with ease.
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Get your business license in the UAE today and explore a world of opportunities waiting for you.
