The initiative is aimed at encouraging the testing and commercialisation of new and innovative products and technologies in Dubai.
Dubai Land Department has signed a cooperation agreement with the Xclusiverse Technology Company to launch the Real Estate Innovation Incubator 2023 initiative.
The aim is to attract emerging global companies in real estate innovation and build the capabilities and skills of individuals and local companies in the sector. This will enhance its digital system and align it with the Dubai Economic Agenda D33, reported the state news agency, WAM.
The initiative is also aimed at encouraging the testing and commercialisation of new and innovative products and technologies in Dubai.
The agreement includes the launch of the Real Estate Innovation Incubator 2023 initiative through a virtual incubator platform, business accelerator, and real estate technology companies.
The cooperation agreement will involve collaboration in various fields, including the building of a team of experts by Xclusiverse Technology Company to establish the virtual incubator.
Dubai Land Department continues to support Dubai Economic Agenda D33
The virtual incubator will adhere to the best local and global standards and practices while ensuring information security. The initiative will be launched in line with Dubai Land Department‘s objective of contributing to the Dubai Economic Agenda D33.
Majida Ali Rashid, CEO of the Real Estate Promotion Investment and Management Sector at Dubai Land Department, said: “The department values the significance of fostering collaborations between the public and private sectors to support Dubai’s economic agenda and position the city among the world’s top economic hubs. We are dedicated to realising the DLD’s strategy of becoming a world leader in real estate investments and providing proactive services that empower the real estate community to test and market new technologies. Our goal is to make Dubai a prominent center for incubating innovations in the real estate industry.”
These efforts align with the leadership’s objectives to increase economic productivity through innovation and the implementation of digital solutions.