The Dubai Integrated Economic Zones Authority (DIEZ) has announced a strategic partnership with the Dubai Land Department (DLD) to support and enable the property technology (Proptech) sector. 

 

The collaboration aims to enhance research, development, and technological innovation, as well as ease of doing business in Dubai, and to contribute to the growth of emerging startups, small and medium and innovative enterprises in the sector.

 

This partnership aligns with the objectives of the Dubai Research, Development, and Innovation (RDI) Grant Initiative, launched by HH Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, Deputy Prime Minister, and Minister of Defence, 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, it stated.

 

The MoU was signed by Dr. Mohammed Al Zarooni, Executive Chairman of DIEZ and Engineer Marwan Ahmed bin Ghalita, Director General of DLD, at Dubai Silicon Oasis, the special economic zone for knowledge and innovation and a member of DIEZ.

 

Al Zarooni said: "DIEZ is committed to providing a conducive environment for start-ups, SMEs and innovative projects in various emerging technology sectors. Dubai is a global destination for entrepreneurs and innovators with promising tech-focused ideas."

 

"Through our collaboration with active entities to contribute to building a future-ready economy in Dubai, such as the partnership with Dubai Land Department, 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," he stated.

 

Bin Ghalita said: "Supporting startups and SMEs in the Proptech sector is crucial, in line with the directives of the wise leadership to enhance digital innovation and develop vital sectors in Dubai."

 

"Through this partnership with the DIEZ, 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)," he stated.

 

The MoU stipulates several key areas of collaboration between DIEZ and DLD, including designing and implementing joint programs, particularly in real estate technology, where they will together 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, he added.-TradeArabia News Service