DIEZ And Dubai Land Department Join Forces To Enhance Proptech Sector In Dubai

The Dubai Integrated Economic Zones Authority (DIEZ) and the Dubai Land Department (DLD) have joined forces to bolster the property technology sector. This collaboration aims to drive research, development, and innovation in technology while simplifying business operations in Dubai. The initiative also seeks to foster growth among emerging startups, small and medium enterprises, and innovative companies within the sector.

Dr. Mohammed Al Zarooni, Executive Chairman of DIEZ, emphasised their commitment to nurturing a supportive environment for startups and SMEs in various tech sectors. "Dubai is a global destination for entrepreneurs and innovators with promising tech-focused ideas," he stated. He highlighted that through partnerships like this one with DLD, DIEZ aims to enhance Dubai's global standing as a hub for technology entrepreneurs.

This partnership aligns with the goals of the Dubai Research, Development, and Innovation (RDI) Grant Initiative. Launched by H.H. Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum in September 2024, it focuses on Cognitive Cities as one of its four priority sectors. This includes Proptech, smart mobility, traffic management, and smart grids.

The Memorandum of Understanding was signed at Dubai Silicon Oasis by Dr. Mohammed Al Zarooni and Marwan Ahmed bin Ghalita, Director-General of DLD. Dubai Silicon Oasis is a special economic zone dedicated to knowledge and innovation and is part of DIEZ.

Marwan Ahmed bin Ghalita expressed DLD's dedication to fostering an environment that embraces modern technologies like artificial intelligence and blockchain in real estate. "Through this partnership with DIEZ, we are committed to providing a conducive environment that encourages the adoption of modern technologies," he said.

The MoU outlines several collaborative areas between DIEZ and DLD. They plan to design joint programmes focusing on real estate technology. These programmes will support modern technology adoption within startups and promote using the latest AI applications in real estate.

Supporting Startups and SMEs

The collaboration will prioritise startups and small-to-medium enterprises (SMEs). By facilitating company establishment and offering necessary support for business expansion, they aim to align with the Real Estate Evolution Space ‘REES’ initiative previously launched by DLD.

This partnership supports the objectives of the Dubai Economic Agenda (D33), which seeks to position Dubai as a key innovation hub. It also aligns with the Dubai Real Estate Strategy 2033 by establishing an ecosystem based on advanced digital solutions.

The ultimate goal is to double Dubai's economy size by 2033, making it one of the top three global cities. This aligns with the broader objectives outlined in the Dubai Economic Agenda D33.

With inputs from WAM