- The measure aims to strengthen Dubai’s position as world leader in real estate innovation
- The HUB is more than double the size of the Proptech market in Dubai at 4.5 billion AED
His highness Sheikh Hamdan Bin Mohammed Bin Rashid Al Maktoum, Heir Prince of Dubai, Vice Prime Minister, Minister of Defense, President of the Executive Council of Dubai, and president of the Superior Committee, a future and digital economy, today and digital economics to launch the center of Dubai Proptech. The measure seeks to accelerate the expansion of the Proptech market in the Emirate, with the aim of more than double its value to exceed AED4.5 billion around the next five years. It also reinforces Dubai’s position as world leader in real estate innovation, in line with the D33 economic agenda of Dubai and the Dubai Real Estate Strategy Sector 2033.
Duration of the meeting, its highness reviewed the commercial report of the Committee, which detailed the results of past projects, evaluated the progress of the initiatives and examined new proposals aimed at fostering innovation and accelerating the growth of digital companies.
Sheikh Hamdan said that Dubai, guided by the visionary leadership of his highness, the Sheikh Mohammed Bin Rashid al Maktoum, vice president and prime minister of the EAU and the ruler of Dubai, has an exception of real value of real real value of high value. The Emirate has developed a unique model that balances sustainable development with digital transformation, improving its preparation for future challenges.
His highness described the launch of the center as a strategic movement to accelerate digital transformation in one of Dubai’s key economic sectors. He stressed that Dubai Proptech would have encouraged a support environment for real estate innovation, train talent and entrepreneurs to convert ideas into successful companies. He added that it aims to strengthen Dubai’s Proptech sector, attract quality investments and improve the global competitiveness of the Emirate.
His highness said that Dubai has sat a solid basis for a fully integrated digital economy through ambitious initiatives to advance technological innovation. It was stressed that adopting the latest technologies is a strategic need to create a business environment that is linked to future challenges and a growth in a competitive world in rapid evolution.
His highness said that Dubai’s digital economy has become a different reality, backed by a flexible legal framework, an advanced infrastructure and robust support for new companies and innovatives. It emphasizes that the integration of key sectors such as real estate, commerce and industry with emerging digital platforms is essential for sustainable growth and achieve the economic and social objectives of the Emirate.
The Dubai Proptech center aims to boost rapid growth in the property technology sector through the adoption of avant -garde digital solutions, aligned with the Dubai Real Estate Strategy 2033 sector and the Dubai D33 economic agenda, which seek the economy and the top range.
The Dubai Proptech market was valued in around AED2.2 billion in 2023, and the center aims to attract around 1 billion investments by 2030, supporting more than 200 Proptech companies and attracting 20 investment funds.
Comprehensive Startup Ecosystem
The Hub offers an integral ecosystem for new companies, with advanced incubators, interactive work spaces and collaboration and innovation of intelligent outdoor areas, together with avant -garde infrastructure to develop and test commercial models promoted by AI.
His highness Sheikh Hamdan Bin Mohammed reviewed the committee report, which described the progress in the main digital initiatives, including the “5,000 digital talents” initiative to place students in the main world technological companies. The meeting also covered the results of the North Expond North star, the world’s largest event for new companies and investors, and the preparations for its next edition. His highness was also updated on the Ignite platform, which was recently launched, and sought to connect the founders with a global network of investors, mentors, corporate organizations and government entities, creating an ecosystem of integral growth.
The meeting attended its excellence Omar Bin Sultan al Olama, Minister of State for Artificial Intelligence, Digital Economy and Remote Work Applications, President of the Dubai Digital Economy Chamber and Vice President of the Committee, as well as other members of the Committee, including its Helal Excellence Saeed to Marri, general director of the Department of Economics of Dubai and Tourismo; His Excellency Hamad Obaid Al Mansoori, General Director of Dubai’s digital authority; His excellence Khalfan Belhoul, CEO of the Dubai Future Foundation; His excellence Eng. Marwan Bin Ghalita, general director of the municipality of Dubai, his excellence Malek al Malek, general director of the Dubai Development Authority and the President or the Tecom Group; Arif Amiri, CEO of the Dubai International Financial Center (DIFC), and Hasher Bin Dalmook, reporter of the Committee.
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