With the aim of attracting international startups
DLD launches 'Real Estate Innovation Incubator' project
The Department stressed the importance of strengthening partnerships between the public and private sectors. Archival
Majida Ali Rashid: "Forming a road map to achieve sustainable development in the real estate sector."
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Dubai Land Department (DLD), through the Real Estate Development Sector, has signed a cooperation agreement with Xclusivers Technology to launch the Real Estate Innovation Incubator 2023 project, with the aim of contributing to attracting international startups in real estate innovation and building the capabilities and skills of local individuals and companies in the sector.
The Department stated that its move comes to enhance its digital ecosystem, and in line with the Dubai Economic Agenda D33, which aims to enable the testing and commercialization of new and innovative products and technologies in the emirate.
Boosting confidence
Under the agreement, which was signed by the Executive Director of the Real Estate Development Sector at DLD, Majida Ali Rashid, and the General Manager of Exclusivers Technology, Christian Ionel Onitio, the two parties seek to enhance confidence in the real estate sector in the emirate, by providing a distinctive investment environment, good governance for the real estate system, and controls that incubate real estate innovation through a virtual incubator platform, and a business accelerator and real estate technology companies, thus increasing customer happiness and improving services.
The agreement includes achieving cooperation in many fields, foremost of which is gathering a group of the best experts to establish the virtual incubator, taking into account the best local and international standards and practices, and achieving information security, provided that the launch of the incubator is from the Emirate of Dubai to the world, as part of the "Dubai Economic Agenda" for the benefit of the Dubai Land Department.
Strengthening partnerships
Majida Ali Rashid said: "DLD recognizes the great importance of strengthening partnerships between the public and private sectors, specifically within the framework of supporting and implementing Dubai's economic agenda aimed at placing the emirate among the top three economic cities around the world. From this standpoint, we affirm our commitment to the Department's strategy aimed at enhancing leadership in attracting and investing in real estate, and providing all proactive services that contribute to empowering the real estate community."
She added: "The agreement with Xclusivers came as part of our endeavors to form a roadmap to achieve sustainable development in the real estate sector, at a time when the real estate innovation incubator project will be an important step in cooperation with Sandbox Dubai, to test and market new products and technologies, with the aim of making Dubai a major hub for incubating innovations."
She stressed DLD's commitment to continue all efforts to enhance the real estate sector's contribution to the comprehensive development of the emirate, consolidate partnership with the private sector, integrate government and harness technology to develop real estate products, and provide a world-class and attractive environment for investment, in line with the efforts of the wise leadership that seeks to increase the productivity of the economy through innovation and the adoption of digital solutions.