HRSD official says over 37,000 persons currently employed in real estate jobs targeted for localization

A construction project

Over 37,000 workers are currently employed in the real estate sector jobs targeted for localization, out of which 67% are expats, Al Eqtisadiah newspaper reported, citing Mohammad Almasoudi, Project Manager - Localization at the Ministry of Human Resources and Social Development (HRSD).

The targeted professions in the real estate industry comprise nine business activities, namely, sale and purchase of land plots as well as properties, in addition to off-plan sales or rent. It also includes real estate brokerage, real estate marketing, owner’s association, sustainable construction and real estate arbitration.

The ministry’s decisions on the localization of real estate and cinema professions came into effect on Oct. 1. The ministry’s procedural guide stipulates that up to 70% of real estate activities and professions will be localized, in addition to localization of 100% of the targeted professions, which focus on real estate brokerage, real estate marketing, owner’s association, sustainable construction and real estate arbitration, Argaam reported.

The decision is expected to provide for more than 11,000 jobs.