Dubai Land Department Launches REES To Redefine Real Estate Technology

The Dubai Land Department (DLD) has introduced the Real Estate Evolution Space Initiative, known as 'REES', aimed at redefining the urban landscape through collaboration with thought leaders and industry professionals. The event gathered over 200 sector partners, officials, and experts, featuring sessions and debates on international real estate technology trends.

REES saw participation from 25 specialised companies, including 11 exhibitors and 14 companies represented by panellists. The initiative also marked the launch of the Dubai PropTech Group, a collaboration between DLD and Dubai Chambers. Several strategic partnerships were established with entities such as Dubai Future District Fund Investments, Mantiq Technologies Limited, Omnes Media, Al-Safar & Partners Legal Consultancy, Stryber Ventures MENA Limited, and EKUIPLUS DWC.

These partnerships aim to foster real estate innovation, attract technology companies to Dubai, enhance the PropTech innovation ecosystem, finance and support real estate technology firms, and connect the REES Initiative with funded companies like venture capital firms. Additionally, they will share reports on artificial intelligence advancements within the sector.

Marwan bin Ghalita commented on the initiative's alignment with the Dubai Economic Agenda. He stated that REES supports making Dubai a leading hub for innovation by embracing AI-driven transformation policies. The initiative aims to position Dubai as a global destination for technology and innovation companies.

Through REES, DLD seeks to develop an innovation-friendly environment in the real estate sector by enhancing collaboration between private and government sectors. This collaboration aims to support innovative solutions that strengthen competitiveness and sustainability while improving operational efficiency and user satisfaction.

The initiative will also contribute to providing supportive infrastructure for real estate innovations. This includes aiding legislation, funded accelerators, and enhancing the competitiveness of local PropTech companies in global markets through DLD's international partnerships. A business group for these firms will be established under the umbrella of Dubai Chambers.

Support for PropTech Companies

Majida Ali Rashid, CEO of the Real Estate Development Sector at DLD, highlighted that REES is the region's most significant initiative for real estate innovation. She noted its design to support and attract PropTech companies to Dubai while showcasing leading technological solutions in the local sector that align with market needs.

To achieve its objectives, DLD plans to adopt several strategic initiatives. These include launching a real estate accelerator project to support PropTech startups with funding from the Dubai Future District Fund. Additionally, DLD will conclude partnerships with influential entities in the real estate market while independently seeking global solutions for broader industry challenges.

With inputs from WAM