Dubai Integrated Economic Zones Authority (DIEZ) and Dubai Land Department (DLD) have joined forces to bolster the property technology (Proptech) sector in Dubai. This partnership aims to promote research, development, and technological innovation, streamline business processes in the city, and foster the growth of emerging startups and small and medium-sized enterprises in the Proptech field.
Marwan Ahmed bin Ghalita, Director General of Dubai Land Department, emphasized the importance of supporting startups and SMEs in Proptech, aligning with the directive to enhance digital innovation and uplift vital sectors in Dubai. The goal is to solidify Dubai's position as a leading hub for real estate innovation by establishing a comprehensive ecosystem based on modern technology and cutting-edge digital solutions, in line with the Dubai Real Estate Strategy 2033.
In their collaboration, DIEZ and DLD plan to roll out joint initiatives in real estate technology, focusing on programs that facilitate the integration of modern technologies by startups, promoting the use of artificial intelligence and other innovative applications in real estate. DIEZ will extend administrative and legal support, organize events and workshops, and open pathways to venture capital networks and investors, especially for early-stage companies.
Moreover, the Dubai Integrated Economic Zones Authority will provide business licenses, visa assistance, and well-equipped office spaces at the Dubai Technology Entrepreneur Campus, which is the largest technology co-working space in the Middle East and North Africa. This initiative is geared towards fostering an environment that encourages the adoption of modern technologies such as artificial intelligence and blockchain in the real estate sector, while simplifying the process of establishing and expanding businesses.
Dr. Mohammed Al Zarooni, Executive Chairman of DIEZ, voiced the commitment to nurturing a favorable environment for startups, SMEs, and innovative projects across various emerging technology sectors. The collaboration also emphasizes empowering startups and small to medium-sized enterprises, paving the way for their growth and success within the Proptech domain. The overarching goal is to contribute to Dubai’s economic development as it strives to become a top global city by 2033, in harmony with the Dubai Economic Agenda D33.
