The Dubai Integrated Economic Zones Authority (DIEZ) and the Dubai Land Department (DLD) have partnered to encourage the adoption of modern technologies, such as artificial intelligence (AI) and blockchain, in the real estate sector, and Property technology sector (Proptech), while facilitating the establishment of companies and providing the necessary support to expand their business,

As per the press release, 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 innovative enterprises in the sector.

This partnership aligns with the objectives of the Dubai Research, Development, and Innovation (RDI) Grant Initiative, launched by H.H. 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 Dr. Mohammed Al Zarooni, Executive Chairman of Dubai Integrated Economic Zones Authority, and 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.

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.”

Marwan Ahmed bin Ghalita said, “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.”

this comes as Klickl, the Web3 financial platform out of the UAE, announced that it will enable real estate developer IMKAN offer international investors with secure, fast and flaxible options of alternative payments in high value sector such as real estate through cryptocurrency by converting crypto into AED. Klickl will offer cryptocurrency payment processing system.