The Dubai Future Fund has launched two new sandboxes within the Dubai Sandbox initiative aimed at stimulating innovation and accelerating the development of regulatory norms in the sectors of geo-economics and PropTech. According to a statement made by His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, Deputy Prime Minister, and Minister of Presidential Affairs, these new initiatives are considered an important step toward achieving the goals of the Dubai Economic Program (D33).
"The sandbox of geo-economics is aimed at exploring more flexible ways of working for the population of Dubai and providing informational support to relevant regulatory cadres in key sectors to ensure their readiness for the future," said Mr. Khalfan Juma Belhoul, the executive director of the Dubai Future Fund.
The PropTech sandbox, in contrast, focuses on assisting in creating a regulatory environment that facilitates the accelerated adoption of the latest technologies to improve the effectiveness, sustainability, and accessibility of Dubai's real estate sector. Mr. Belhoul emphasized that the initiative provides a supportive environment for the rapid acceptance of advanced technologies, innovative practices, and new business models.
"Sandbox Dubai plays a significant role in uniting the interests of both the public and private sectors for the collaborative formation of regulations and accelerating reforms in key areas. The initiative creates a core atmosphere for the expedited adoption of advanced technologies, innovative practices, and new business models," added Mr. Belhoul.
