DIFC introduces new PropTech solution, boosting Dubai's appeal as leading property investment destination
DUBAI: Dubai International Financial Centre (DIFC) has launched a new technology solution that enables third parties to access data on its real estate landscape.
The Application Interface solution, commonly known as an API, is the latest initiative from DIFC that positions Dubai as a global hub for technology and innovation, and the first to be focused on PropTech. The initiative will contribute to the Dubai Real Estate Sector Strategy 2033 which aims to increase transactions, attract international investors, and position Dubai as a top property investment destination. Additionally, the solution supports Dubai's Digital Strategy that is digitalising all aspects of life in the city.
Dubai's pioneering PropTech company, Keyper, has become the first subscriber to the service and is launching a dedicated digital platform that will provide robust data insights on DIFC's real estate landscape directly to investors, property owners, tenants and the general public. For the first time, potential and existing investors can evaluate real estate opportunities within DIFC with an in-depth and real-time understanding of property values, rental yields, and transaction histories.
The collaboration with Keyper is a strategic move towards a modernised and more efficient property portfolio management model that meets the demands of an increasingly data-driven global investment community. The digital platform will provide updated market metrics, allowing users to view market indicators and property transactions in real time.
Alya Alzarouni, Chief Operating Officer at DIFC Authority, commented: 'DIFC continues to introduce initiatives that further enhance Dubai's reputation as a global hub for technology and innovation, with an emphasis on financial services and other future-focused industries. This new API solution is available to companies in the fast-growing PropTech sector, allowing them to access DIFC's comprehensive real estate data and real-time market trends will help investors, property owners, and tenants make better decisions, positioning Dubai as an attractive property investment destination.'
Omar Abu Innab, Co-Founder and CEO of Keyper, said: 'This collaboration with DIFC marks a transformative shift in Dubai's PropTech landscape. We are thrilled to be at the forefront of making DIFC's property data accessible to all. By increasing transparency, we are supporting investors' needs to make well-informed decisions and aligning with Dubai's vision of being a globally recognised, tech-savvy metropolis.'
In 2024, Dubai climbed one spot on JLL's Global Real Estate Transparency Index 2024, retaining its position as the only property market in the Middle East and North Africa (MENA) to feature in the 'Transparent' tier. The emirate's gains in its ranking highlight the effectiveness of government initiatives to enhance market transparency and foster a more robust real estate environment in the region.
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