Dubai has unveiled a new PropTech Hub aimed at transforming the real estate sector and doubling its value to $1.2 billion within five years. Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of The Executive Council, led the launch. This initiative intends to accelerate innovation by connecting startups, investors, and developers within a dynamic ecosystem.
Accelerating Growth with Technology and Investment
The PropTech Hub targets over AED1 billion ($272 million) in investments by 2030. It plans to support more than 200 PropTech firms and attract 20 investment funds. Moreover, the hub provides advanced incubators, interactive workspaces, and AI-driven infrastructure. These facilities foster collaboration and help entrepreneurs develop new technologies to improve real estate operations and customer experiences.
This project aligns with Dubai’s Economic Agenda D33 and the Real Estate Sector Strategy 2033, which strive to position the city among the world’s top three economies by 2033. Sheikh Hamdan emphasised that Dubai successfully combines sustainable development with digital transformation to attract top talent and high-value investments.
Preparing Dubai’s Real Estate Sector for the Future
During the committee meeting, members reviewed digital initiatives such as the “5,000 Digital Talents” programme, which places Emirati students in leading global tech companies. The committee also evaluated the success of Expand North Star, the world’s largest startup-investor event, and the IGNITE platform, which connects founders with investors and mentors.
Dubai’s PropTech market reached AED2.2 billion ($599 million) in 2023. The new hub also aims to speed growth by adopting emerging technologies like AI to streamline operations and enhance customer experience. Sheikh Hamdan stressed that embracing digital solutions is essential for remaining competitive and facing future challenges.
Thanks to a flexible legal framework, modern infrastructure, and strong ecosystem support, Dubai is well-positioned to lead global real estate innovation. The PropTech Hub also marks a crucial step towards achieving the emirate’s vision of a sustainable and digitally integrated economy.
