Recently, Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, Deputy Prime Minister, Minister of Defense, Chairman of the Executive Council of the Emirate of Dubai, and Chairman of the Supreme Committee for Future Technology and Digital Economy, directed the launch of the Dubai Center for PropTech (Property Technology).
Main takeaways:
- Dubai launches PropTech Center to double market size to AED 4.5B in 5 years.
- Boosts innovation by supporting startups and attracting global talent.
- Aligns with D33 and 2033 goals to strengthen Dubai’s global competitiveness.
- Commits to digital economy with strong infrastructure and flexible laws.
Dubai Center for PropTech aims to accelerate the growth of the PropTech market in the emirate and double its size to over AED 4.5 billion (USD 1.2 billion) over the next five years, reinforcing Dubai’s position as a global hub for real estate innovation in line with the goals of the Dubai Economic Agenda (D33) and the Dubai Real Estate Sector Strategy 2033.
This came during a meeting chaired by Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum of the Supreme Committee for Future Technology and Digital Economy, where he reviewed the committee’s business report, which included the outcomes and developments of previous projects, as well as updates on the implementation of current projects and an overview of new initiatives aimed at supporting innovation and fostering the growth of digital companies within an integrated and stimulating economic environment.
Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum affirmed that, guided by the vision and directives of Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, Dubai has today become a leading global destination that attracts quality investments and exceptional talents across vital sectors—especially the real estate sector. The city has established a unique model in developing promising sectors and achieving a balance between sustainable development and digital transformation, thereby enhancing its readiness to meet future demands.
He said: “Today, we directed the launch of the Dubai Center for PropTech… a new strategic initiative aimed at accelerating digital transformation in one of Dubai’s most vital economic sectors by providing an integrated business environment that supports real estate innovation and empowers talents and entrepreneurs to turn their ideas into successful ventures.”
He added: “The center aims to support the PropTech sector and bolster Dubai’s efforts to attract quality investments, in addition to reinforcing its leadership in global competitiveness indicators. This enhances its position as a leading global hub for property technology and a premier destination for talent and specialized companies in this sector.”
He explained that Dubai has laid strong foundations for building an integrated digital economy through ambitious initiatives and projects aimed at enhancing technological innovation across various sectors. He stressed that leveraging the latest technologies is no longer an option, but a strategic necessity to ensure the development of a business environment capable of addressing future challenges and driving growth and leadership in a rapidly changing and highly competitive landscape.
He continued: “The digital economy in Dubai is no longer a theoretical concept, but a tangible reality that we are actively developing through a flexible legislative environment, advanced infrastructure, and comprehensive support for startups, innovators, and investors. We believe that integration between key economic sectors—such as real estate, commerce, and industry—and emerging digital platforms is the optimal path to enhancing sustainable growth and achieving our economic and social goals.”
