The Dubai Integrated Economic Zones Authority (DIEZ) and the Dubai Land Department (DLD) announced today that they have partnered to support and enable the property technology (Proptech) sector.
Their collaboration aims to enhance research, development and technological innovation, as well as ease of doing business in Dubai. The two entities will also contribute to the growth of emerging startups, small and medium and innovative enterprises in the sector.
His Excellency Dr. Mohammed Al Zarooni, executive chairman of DIEZ, and His Excellency Eng. Marwan Ahmed bin Ghalita, director general of Dubai Land Department, signed the memorandum of understanding at Dubai Silicon Oasis, the special economic zone for knowledge and innovation and a member of DIEZ.
Joint programs in real estate technology
The agreement outlines several key areas of collaboration between DIEZ and Dubai Land Department, including designing and implementing joint programs, particularly in real estate technology.
The two entities will launch programs that support the adoption of modern technologies within start-ups and encourage the use of the latest applications of artificial intelligence and real estate technology. The two parties will also prioritize start-ups and small and medium-sized enterprises.
“DIEZ aims to enhance the emirate’s global position in attracting technology entrepreneurs and SMEs and providing everything they need to support doubling the size of Dubai’s economy and making it one of the top three global cities by 2033, in line with the objectives of the Dubai Economic Agenda D33,” stated Al Zarooni.
Business licenses and visa assistance
As part of the collaboration with Dubai Land Department, DIEZ will provide business licenses and visa assistance to companies and individuals. The authority will also offer flexible and equipped office spaces at the Dubai Technology Entrepreneur Campus, an initiative of Dubai Silicon Oasis, which is the largest technology co-working space of its kind in the Middle East and North Africa.
In addition, DIEZ will provide administrative and legal support and hosting events and workshops.
Moreover, the authority will facilitate access to venture capital networks and investors, and provide support to promising companies, especially in the founding stages. This will be accomplished through Oraseya Capital, the investment arm of DIEZ, which specializes in financing start-ups from the pre-seed stage up to the second round of financing.
“We are committed to providing a conducive environment that encourages the adoption of modern technologies, such as artificial intelligence and blockchain, in the real estate sector, while facilitating the establishment of companies and providing the necessary support to expand their business, aligning with the Real Estate Evolution Space ‘REES’ initiative we previously launched as part of our efforts to achieve the objectives of the Dubai Economic Agenda (D33), positioning the emirate as a key hub for innovation,” stated bin Ghalita.
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Facilitating access to capital
Meanwhile, the Dubai Land Department will collaborate in designing and implementing quality programs, providing facilities to encourage the use of technologies such as artificial intelligence and blockchain in real estate, as well as facilitating the process of establishing companies and accessing new markets.
The department will also propose interactive platforms and support resources, strengthen partnerships with educational and professional institutions to provide training and mentoring opportunities and contribute to the development of mechanisms to facilitate access to capital.
“We aim to enhance Dubai’s position as a leading destination for real estate innovation, in line with the Dubai Real Estate Strategy 2033, particularly by establishing a comprehensive ecosystem based on modern technology and advanced digital solutions,” added bin Ghalita.
The partnership between DIEZ and Dubai Land Department aligns with the objectives of the Dubai Research, Development, and Innovation (RDI) Grant Initiative, launched in September 2024. Through one of the four priority sectors, Cognitive Cities, Dubai RDI will focus on Proptech, smart mobility, traffic management and smart grids.
