The Dubai Land Department (DLD) has launched the Real Estate Evolution Space initiative (REES) to support the wave of innovation that will redefine the urban landscape.
Through the REES event, the DLD aims to develop an innovative ecosystem in real estate, enhance collaboration between the private and public sectors, and boost the department’s capacity to acquire the best technologies across subsets, improving operational efficiency and user satisfaction.
The event brought together over 200 sector partners, officials and experts. Moreover, it featured several sessions and debates on the main trends the international real estate technology market is seeing. The event explored opportunities and potential with participation from 25 specialized companies, including 11 exhibitors and 14 companies represented by panelists.
“The future of real estate is set for revolution and transformation,” stated Marwan bin Ghalita, DLD’s director general. He added that REES will provide the sector with programs and partnerships with both public and private sectors, enhancing Dubai’s pursuit of solutions for current and future challenges.
Growing collaborations
The DLD in collaboration with Dubai Chambers also launched the Dubai PropTech Group. Moreover, the department forged several partnerships with Dubai Future District Fund Investments, Mantiq Technologies Limited, Omnes Media, Al-Safar & Partners Legal Consultancy, Stryber Ventures MENA Limited, and EKUIPLUS DWC.
These initiatives and partnerships aim to develop real estate innovation, attract real estate technology companies to Dubai, enhance the innovation ecosystem in PropTech, finance and support real estate technology companies, connect the ‘REES’ initiative with companies such as venture capital firms, and share reports on artificial intelligence.
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Supporting real estate innovation
Hence, ‘REES’ will contribute to providing a supportive infrastructure for real estate innovations. This includes both legislation and funded accelerators. Moreover, it aims to enhance the competitiveness of PropTech companies in global markets through DLD’s global partnerships. Furthermore, it aims to establish a business group for all PropTech companies under Dubai Chambers.
To achieve the initiative’s objectives, the DLD will work on adopting and approving multiple strategic initiatives. This includes launching the real estate accelerator project to support startups in PropTech with funding from the Dubai Future District Fund. Moreover, it will conclude partnerships with influential entities in the real estate market, while independently working to find global solutions for broader industry challenges.
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