The Dubai Integrated Economic Zones Authority (DIEZ) and the Dubai Land Department (DLD) have announced a strategic partnership aimed at fostering innovation in the property technology (Proptech) sector.
The collaboration will focus on enhancing research, development, and technological advancements, alongside improving the ease of doing business in Dubai. This initiative also targets the growth of startups, SMEs, and innovative enterprises within the Proptech industry.
The partnership aligns with the Dubai Research, Development, and Innovation (RDI) Grant Initiative, launched by H.H. Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum in September 2024. Under the initiative’s "Cognitive Cities" priority sector, Proptech, smart mobility, traffic management, and smart grids will be key areas of focus.
The Memorandum of Understanding (MoU) was signed at Dubai Silicon Oasis by Dr. Mohammed Al Zarooni, Executive Chairman of DIEZ, and Marwan Ahmed bin Ghalita, Director-General of DLD. The MoU outlines collaboration on joint programmes, particularly in real estate technology, aimed at encouraging the adoption of artificial intelligence and blockchain in real estate.
Dr. Al Zarooni emphasized Dubai's commitment to supporting entrepreneurs and innovators, aiming to position the city among the top three global economies by 2033. Bin Ghalita highlighted the role of the partnership in enhancing Dubai’s standing as a leading hub for real estate innovation, aligned with the Dubai Economic Agenda (D33) and the Real Estate Evolution Space (REES) initiative.
This partnership marks a pivotal step toward developing a robust ecosystem for Proptech in Dubai, offering vital support to businesses adopting modern technologies and advancing the city’s innovation-driven economy.
News Source: Emirates News Agency
