Sheikh Hamdan rolls out ‘Dubai RE-Tech’ to strengthen real estate sector

By Amirtha P S, Desk Reporter
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Dubai has introduced a new digital solution, the Dubai RE-Tech platform, which is designed to support thoughtful decision-making and boost sustainability across the real estate sector.

The digital platform launched by H.H. Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of The Executive Council, will help to further enhance transparency and strengthen investor confidence in the industry.

The Dubai RE-Tech platform is in line with the initiatives brought out to support the implementation of the Dubai 2040 Urban Master Plan, which aims to make Dubai the world’s best city to live in.

Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum
Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum
Crown Prince of Dubai
Chairman – Dubai Executive Council

“Guided by the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, the emirate continues to accelerate the development of its vital sectors. We aim to make Dubai’s real estate industry one of the world’s best. We are seeing exceptional growth in the sector with the number of investors increasing by more than 80 percent in a year and the value of annual real estate transactions exceeding $68 billion. This growth momentum reflects the resilience and attractiveness of the sector and the vast opportunities it offers.”

The platform relies on advanced technologies to develop an integrated real estate model based on artificial intelligence (AI) that enables players across Dubai’s realty sector to analyze big data related to the industry. Further, it offers tools for future scenario-based strategic planning and policy development, and for generating proactive initiatives to take advantage of opportunities and deal with diverse markets changes.

The new initiative offers a valuable tool to map the future of Dubai’s real estate sector in line with international best practices. The platform also encompasses an integrated real estate database connected with various stakeholders in the sector, which offers industry indicators and the future outlook for the market.

One of the key sectors of Dubai’s economy, the real estate industry has played a major role in attracting foreign investments, companies and startups to the emirate. This year, the sector has already seen a total of 38,000 new investors.

The Dubai 2040 Urban Master Plan launched by His Highness Sheikh Mohammed bin Rashid Al Maktoum maps out a comprehensive plan for sustainable urban development in the emirate.

Related: Sharjah real estate transactions witness 22.7% surge in Q3 2021