Sheikh Hamdan launches Dubai Re-Tech platform to boost real estate sector
It will also support the Dubai 2040 Urban Master Plan
Dubai: A new platform to promote growth and support sustainability in the Dubai real estate sector has been launched.
The platform, Dubai RE-Tech, will further boost the emirate’s position as a leading investment destination, Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Dubai Crown Prince and Chairman of The Executive Council of Dubai, announced.
“Guided by the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, the emirate continues to accelerate the development of its vital sectors. We aim to make Dubai’s real estate industry one of the world’s best,” Sheikh Hamdan said.
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. The new platform will help further enhance transparency and strengthen investor confidence in the industry.
“We are seeing exceptional growth in the sector with the number of investors increasing by more than 80 per cent in a year, and the value of annual real estate transactions exceeding Dh250 billion. This growth momentum reflects the resilience and attractiveness of the sector and the vast opportunities it offers,” Sheikh Hamdan added.
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.
One of the vital sectors in the city’s economy, Dubai’s real estate industry has played a major role in attracting foreign investments, companies and startups to the emirate. This year, the sector has already seen a total of 38,000 new investors.
The Dubai 2040 Urban Master Plan launched by Sheikh Mohammed maps out a comprehensive plan for sustainable urban development in the emirate. Aligned with the UAE’s vision for the next 50 years, the Master Plan focuses on enhancing people’s happiness and quality of life, reinforcing Dubai’s status as a preferred global investment and tourism destination and transforming it into the world’s best city to live in.