The first of its kind in the region .. the launch of the “Dubai Real Estate Technology Center”

Under the directives of His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, Deputy Prime Minister and Minister of Defense, Chairman of the Executive Council of the Emirate of Dubai, Chairman of the Higher Committee for Future Technology and Digital Economy, the “Inoven Hib Center” at the Dubai International Financial Center – which includes the first and largest financial technology stoning in the Middle East, Africa and South Asia – and the Dubai Land and Property Department “Dubai Real Estate Technology Center”, the first center Of its kind for innovation in the field of real estate technology in the region.

This initiative will bring together all aspects of the real estate value chain to present a new model for cooperation and innovation in a global, rapidly growing global market. In an effort to reshape the future of real estate using technology, the center will support, starting from its site in “Inoven Hib” at the Dubai International Financial Center, more than 200 startups and advanced companies in the field of real estate technology, and will provide more than 3,000 job opportunities, and attract investments exceeding 300 million US dollars by 2030, and enhances innovation and cooperation in this sector. The center will provide licensing options, work spaces, and an integrated set of support programs designed to accelerate innovation from the idea to marketing.

Thanks to its integrated system, the Dubai Real Estate Technology Center will allow access to advanced business incubators, opportunities to build practical projects and cooperative experimental programs, based on the global regulatory and financial environment for the Dubai World Financial Center. The center will also provide incubators for startups in its early stages, facilitate the alignment of organizational regulations related to emerging technologies, and enhances intellectual leadership, stimulating local entrepreneurship and establishes Dubai’s position at the forefront of global trends of real estate technology.

On this occasion, the Governor of the Dubai International Financial Center, Issa Kazem, said: “The Dubai International Financial Center is proud to reveal the ‘Dubai Real Estate Technology Center’, in the context of providing a financial and organizational environment according to the highest global standards that support innovation in the real estate sector. This leading initiative also contributes to the status of foundations to attract more talents, accelerate the growth of the real estate technology market in Dubai, and establish the emirate’s position as a global center for the leadership of innovation Real Estate. Moreover, this initiative will contribute to building a renewed momentum for investment, in line with the targets of Dubai Economic Agency (D33) and Dubai Real Estate Sector Strategy.

The Director General of the Dubai Lands and Property Department, Omar Hamad Bouchahab, stressed that the new center constitutes a pivotal step in translating the Dubai Strategy for the Real Estate Sector 2033, and continuing to consolidate the emirate’s position as a global real estate excellence center. He said: “This center represents a natural extension of the” Rais Real Estate Innovation “initiative launched by the department with the aim of supporting the innovation system and anticipating the future of the sector by harnessing technology and artificial intelligence. We believe that creating a stimulating environment for startups, and providing advanced business incubators and infrastructure, enhances Dubai’s competitiveness on the global innovation map, and establishes an integrated model that redefines the investment experience Real estate development is an advanced digital perspective. “

The Dubai Real Estate Technology Center features a multilateral cooperation model, which brings together regulatory authorities, developers, technology companies, investors and service providers under one roof. The list of founding partners includes international developers, such as: Bin Ghati, Majid Al Futtaim, Shuba Real Estate, Al Ittihad Real Estate and vital infrastructure service providers such as: “Trance Gard”, who are already involved in exploring smart and artificial intelligence -backed buildings applications through experimental projects led by the “Inovence Hep” center at the Dubai World Financial Center.

With the launch of the “Dubai Real Estate Technology Center”, the Dubai International Financial Center aims to provide investors, residents and relevant agencies around the world with an ease, transparency and technological empowerment.