The Dubai Integrated Economic Zones Authority (DIEZ) and the Dubai Land Department (DLD) partnered 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 His Highness 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.
The memorandum of understanding was signed by His Excellency Dr. Mohammed Al Zarooni, Executive Chairman of Dubai Integrated Economic Zones Authority, and His Excellency Eng. Marwan Ahmed bin Ghalita, Director General of Dubai Land Department, at Dubai Silicon Oasis, the special economic zone for knowledge and innovation and a member of DIEZ.
An Integrated Environment for Tech Companies
His Excellency Dr. Mohammed 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.”
For his part, His Excellency Eng. Marwan Ahmed 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 Dubai Integrated Economic Zones Authority, 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), positioning the emirate as a key hub for innovation. We aim to enhance Dubai’s position as a leading destination for real estate innovation, in line with the Dubai Real Estate Strategy 2033, particularly by establishing a comprehensive ecosystem based on modern technology and advanced digital solutions.'
Areas of Cooperation
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. The two parties will also prioritize start-ups and small and medium-sized enterprises.
As part of the collaboration, Dubai Integrated Economic Zones Authority will provide business licenses and visa assistance to companies and individuals, as well as flexible and equipped office spaces at the Dubai Technology Entrepreneur Campus, an initiative of Dubai Silicon Oasis, which is the largest technology co-working space of its kind in the Middle East and North Africa. In addition, DIEZ will provide administrative and legal support and hosting events and workshops.
DIEZ will also facilitate access to venture capital networks and investors, and provide support to promising companies, especially in the founding stages. This will be done through Oraseya Capital, the investment arm of DIEZ, which specializes in financing start-ups from the pre-seed stage up to the second round of financing (Series B investment phase).
For its part, the Dubai Land Department will collaborate in designing and implementing quality programs, providing facilities to encourage the use of technologies such as artificial intelligence and blockchain in real estate, as well as facilitating the process of establishing companies and accessing new markets. It will also propose interactive platforms and support resources, strengthen partnerships with educational and professional institutions to provide training and mentoring opportunities, and contribute to the development of mechanisms to facilitate access to capital.
