Family businesses vital driver of national economic growth: Marri

The UAE continues to adopt a forward-looking vision to enhance the regulatory and legislative frameworks governing family businesses in the country. This vision aims to foster sustainable growth, ensure long-term viability, and strengthen the sector’s contribution to national economic competitiveness both regionally and globally.

The Ministry of Economy and Tourism played a key role in issuing the world’s first comprehensive and pioneering legislation dedicated to family businesses: Federal Decree by Law No. (37) of 2022 concerning the Family Businesses.

The law aims to ensure business continuity through legal mechanisms and structured procedures, support diversification of business activities, ease generational transition, and encourage expansion into advanced sectors, particularly the new economy.

The Ministry has also issued four ministerial resolutions under which a unified registry for family companies was established. This registry currently includes more than 15 registered family firms. It also governs family business charters, share buy-back mechanisms, and the issuance of multiple classes of shares.

In statements to the Emirates News Agency (WAM), Abdullah Bin Touq Al Marri, Minister of Economy and Tourism, emphasised that the UAE, guided by its wise leadership, has prioritised the creation of an advanced legislative environment to promote the growth and sustainability of family businesses over the coming decades.

He highlighted that family businesses are a vital driver of national economic growth and a pillar of the UAE’s long-term vision to build a future-ready economy.

He reaffirmed the Ministry’s commitment to advancing this vital sector through continued efforts and active collaboration with stakeholders. These efforts align with the “We the UAE 2031” vision, aiming to increase the country’s GDP to Dhs3 trillion by the next decade.Family businesses contribute approximately 60% of the UAE’s GDP and employ 80% of the workforce. They also account for around 90% of private sector companies in the country. These businesses operate across a wide range of vital economic sectors, including the new economy, hospitality, retail, real estate, and construction.

Family firms play a crucial role in diversifying the national economy. In Abu Dhabi alone, they represent 50% of the companies in the construction sector, 60% in financial services, 80% in wholesale and trade, and 70% in transportation.

Globally, family businesses contribute around 70% of global GDP, making them responsible for more than two-thirds of global economic activity. They are also the largest employer worldwide, providing jobs to nearly 60% of the global workforce.

 Dubai’s real estate brokerage sector recorded a remarkable performance in the first half of this year, reaffirming the pivotal role of brokers in driving market dynamism and supporting sustainable growth in property transactions.

Real estate brokers contributed to the execution of 42,181 transactions, generating commission values exceeding Dhs3.23 billion in H1 2025, compared to Dhs1.62 billion in the same period in 2024, achieving a growth of 99% This increase in transaction volume is closely tied to the growing number of real estate brokers registered with the Dubai Land Department, which now stands at 29,577 brokers, including 6,714 new brokers who entered the sector in the first half of 2025. This momentum reflects the growing confidence in the profession and its rising role as a key partner in enhancing the attractiveness of real estate investment and guiding investors towards high-potential opportunities.

Female participation in the real estate brokerage sector has increased significantly, with 10,100 women now actively working as brokers in the field. They contributed to the execution of 13,424 transactions, generating commission values of nearly Dhs1.43 billion. This reflects the growing influence of women in leading real estate deals, their ability to build strong professional relationships, and their impact on the market’s overall dynamism.

The role of real estate brokers extended beyond facilitating transactions; they served as a vital link between investors, developers, and buyers, contributing to enhanced transparency and enabling more informed decision-making. Brokerage and property valuation firms also played a key role in supporting market demand by providing integrated services. As of the first half of 2025, there were 1,223 registered brokerage offices and 78 property valuation offices employing 118 licensed valuers.

On their part, the 2,426 registered real estate services offices continued to play a pivotal role in the sector. During the first half of the year, Real Estate Registrations and Services Trustees Offices facilitated 114,848 transactions, serving 86,398 customers, marking a 15% increase in the number of customers compared to the same period last year.

The outstanding performance of the brokerage and valuation sector is one of the key pillars of Dubai’s real estate market, reflecting the emirate’s vision of fostering an investment environment built on public-private partnerships. By facilitating transactions and deals, professional brokers continue to reinforce investor confidence and contribute to enhancing Dubai’s position as a leading global real estate investment destination.