Dubai Crown Prince and Chairman of The Executive Council HH Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum has recently announced the launch of the Dubai RE-Tech platform.
The digital platform is designed to support enhanced decision-making and promote growth and sustainability across the real estate sector.
The launch of the platform is part of initiatives introduced to support the implementation of the Dubai 2040 Urban Master Plan, which aims to make Dubai the world’s best city to live in. It is aimed at further enhancing enhance transparency and strengthening investor confidence in the industry.
“We aim to make Dubai’s real estate industry one of the world’s best,” said Sheikh Hamdan.”We are seeing exceptional growth in the sector with the number of investors increasing by more than 80% in a year and the value of annual real estate transactions exceeding AED 250 billion. This growth momentum reflects the resilience and attractiveness of the sector and the vast opportunities it offers.”
Dubai RE-Tech leveraged advanced technologies to develop an integrated real estate model based on artificial intelligence that allows players across Dubai’s realty sector to analyze big data related to the industry.
Additionally, it enables 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 provides a valuable tool to map the future of Dubai’s real estate sector in line with international best practices, which in turn helps boost investor confidence. The platform also encompasses an integrated and instant real estate database connected with various stakeholders in the sector, which offers industry indicators and the future outlook for the real estate market.
(Except for the headline, this story has not been edited by The Technology Express staff and is published from a syndicated feed)
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