Dubai Land Department (DLD) has launched the Real Estate Evolution Space Initiative (REES) to support Dubai’s Economic Agenda D33 and its goal of becoming a major innovation hub. This initiative aims to gather thought leaders and industry professionals to drive progress and redefine the urban landscape. In collaboration with the Dubai PropTech Group, DLD has established strategic partnerships to develop real estate innovation, attract technology companies specialized in real estate to Dubai, and enhance the PropTech ecosystem.
Marwan bin Ghalita, from DLD, emphasized the importance of the REES Initiative in contributing to Dubai’s objective of becoming a leading innovation hub. The initiative aims to provide strategic programs and partnerships with both public and private sectors to address current and future challenges in the real estate sector. The goals of the initiative include enhancing the innovation environment in the real estate sector, improving collaboration between private and government sectors, and acquiring the best technologies to enhance operational efficiency and user satisfaction.
The REES Initiative also aims to provide a supportive infrastructure for real estate innovations by aiding legislation, funded accelerators, and enhancing the competitiveness of local PropTech companies in global markets. Majida Ali Rashid, CEO of the Real Estate Development Sector at DLD, highlighted the significance of the REES Initiative in supporting and attracting PropTech companies to Dubai and showcasing technological solutions that align with various markets. DLD will work on strategic initiatives such as launching a real estate accelerator project and forming partnerships with influential entities in the real estate market to provide further support.
Overall, the REES Initiative is set to revolutionize the real estate sector in Dubai by fostering innovation, collaboration, and technological advancements. By creating strategic partnerships, providing support to PropTech companies, and enhancing the competitiveness of the sector globally, DLD aims to position Dubai as a leading hub for real estate innovation. With a focus on acquiring the best technologies, enhancing operational efficiency, and addressing industry challenges, the initiative will pave the way for a new era of real estate development in the region.
