DLD-Second Century Ventures' new real estate accelerator: How it will help tech startups
The Dubai Land Department (DLD) has partnered with US-based investment firm Second Century Ventures to launch REACH Middle East, a real estate technology accelerator aimed at driving innovation across the sector. Applications are now open for the program's first cohort, with selected startups eligible to receive up to $1.5m in total funding.
REACH Middle East, managed by real estate tech entrepreneurs Siddiq Farid and Karim Helal, will run as an eight-month accelerator targeting up to 10 revenue-generating startups from seed to Series A stage.
Each selected company can receive up to $250,000 in seed capital, along with mentorship, access to pilot programmes with real estate developers and government agencies, and opportunities to scale both regionally and internationally.
The programe supports the UAE's broader digital transformation efforts outlined in the UAE Digital Economy Strategy, Dubai Economic Agenda D33, and the Dubai Real Estate Sector Strategy 2033, which together aim to add more than $27bn to the national economy.
It also complements regional initiatives such as Abu Dhabi's Hub71 and innovation hubs tied to Saudi Arabia's Vision 2030, including the NEOM Innovation Hub and the Saudi Real Estate Development Fund.
'With Dubai as the starting point, this accelerator will provide unparalleled support to entrepreneurs, fostering solutions that resonate throughout the Middle East and contribute to the global real estate ecosystem,' said
Dr Mahmoud AlBurai, head of Policies and Innovation at DLD.
Read:
DLD-SCV accelerator to drive tech in real estate and related fields
The accelerator will focus on startups applying emerging technologies such as AI, IoT, and blockchain to the real estate, construction, sustainability, and property management sectors.
In addition to funding, participants will benefit from industry mentorship, exposure at major trade shows, and integration into REACH's global network of over 330 alumni companies.
'The MENA region is at the forefront of real estate innovation, and REACH Middle East is committed to empowering startups to solve real-world challenges,' said Siddiq Farid, MD of REACH Middle East.
Second Century Ventures, the strategic investment arm of the National Association of Realtors, is one of the most active global funds in real estate tech.
The firm supports REACH programmes in several international markets.
'REACH offers a unique opportunity for startups to be part of a transformative ecosystem,' said Dave Garland, MP at Second Century Ventures. 'We encourage ambitious startups to apply to join the next generation of proptech trailblazers and help shape the future of real estate in the MENA region and beyond.'
Applications for the REACH Middle East accelerator can be submitted
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Khaleej Times
26 minutes ago
- Khaleej Times
UAE: Partition rents jump in Sharjah, some residents pay same fee as Dubai
Several residents who recently moved from Dubai to Sharjah following the crackdown on overcrowded accommodations said that they are now facing an increase in partition and bedspace rents, with some claiming prices have risen by over 50 per cent in the past two months. Speaking to Khaleej Times, tenants said that areas like Al Nahda, Al Tawoon, and Al Qasimiya have seen rent hikes in shared accommodations and have left many with no financial relief after relocating from Dubai. 'Moved to save, paying same' Mohammed Rafi, a sales executive at a mall in Dubai earning Dh3,000 a month, said he moved from the Al Rigga area to Al Nahda, Sharjah, in early July, hoping to reduce his housing expenses. But just weeks later, he realised that the rent he pays in Sharjah is nearly the same as before if not more. 'I was paying Dh1,200 for a bedspace in a shared room in Dubai,' he said. 'I moved thinking I could get something for Dh700 to Dh800. But now they are charging Dh1,100 here. It's almost the same rent but with a longer commute.' Rafi added that in the building he now lives in, there are only three people allowed in one room. 'When we asked if they could accommodate more people and reduce the rent, they told us the law doesn't allow more than three,' he said. Following the recent enforcement drive in Dubai against illegal housing partitions, Sharjah has seen a noticeable rise in rental demand, particularly in areas bordering Dubai such as Al Nahda. This influx of new tenants has led to a 10 to 20 per cent spike in rents for legal accommodations in the emirate. Spacious flats that were earlier shared among multiple tenants are increasingly being leased out to single families or individuals, altering the rental dynamics. Prime locations like Al Majaz and Rolla are experiencing tightening availability, while budget apartments near the Dubai border are being snapped up quickly due to the convenience of commuting between the two emirates. According to Dubai's occupancy rules, one person is allowed per 5 square metres of space. Exceeding this limit is considered overcrowding and a violation. 'They know people have no choice' Aftab, who works in logistics and earns Dh3,800, said he moved from Hor Al Anz to Al Qasimiya after his building in Dubai was inspected by authorities in June. But what he hoped would be a cost-saving move quickly turned stressful. 'I came to Al Qasimiya thinking the rent would be affordable, but the landlord told us to pay Dh200 more from August,' he said. 'The bedspace was Dh800 to Dh900 earlier, and now it's gone up to Dh1,000 or even Dh1,200. Some are even asking for three months rent upfront.' 'They know people have no choice. It's very difficult for those like me who send money back home every month,' he added. Stressed residents ask for rent regulation Mary Jose, a 26-year-old supermarket cashier earning Dh2,500, also shifted from Dubai to Al Tawoon with two friends, hoping to cut costs and shorten her morning commute. 'We chose Al Tawoon because the access to Dubai in the mornings is easy, and we can reach work on time,' she said. Mary and her roommates initially found a room for Dh1,800, which they split. But recently, their landlord informed them that the rent would increase to Dh2,200, saying he had others willing to pay more. 'We each spend around Dh400 a month just on transport. With the rent increase, there's barely enough left for food, no savings at all,' she said. 'We came to Sharjah to save money, but now it's just as expensive as Dubai.' Residents said that there is a growing need for partition rent regulation in Sharjah to avoid exploitation and overcrowding, especially as more people relocate due to enforcement measures in Dubai. 'Wherever there's a crackdown, people move to the next area and rents go up,' said Rafi. 'We just hope there will be clear, balanced rules across all emirates so we're not left stuck in the middle.'
Khaleej Times
26 minutes ago
- Khaleej Times
Etihad Rail to slash travel time by nearly half: What UAE will be like once trains start
When Etihad Rail passenger train services are rolled out, it has the potential to reduce commute times and give greater connectivity to smaller towns, according to urban planners. The network could even prove a new regional urban system. ' Etihad Rail will redefine mobility across the UAE by enabling reliable, high-speed intercity travel at speeds of up to 200 kmph, reducing commute times by as much as 40 per cent,' said Sercan Alturk, Managing Director at FTI Consulting. 'It's widespread availability will improve social connectivity, foster stronger community ties, and facilitate seamless travel between cities for both work and leisure.' Urban planning expert Shweta Gandhi added that the rail could serve as the 'backbone' of a new regional system. 'Imagine a UAE where you can live in Ajman, work in Abu Dhabi, and spend your weekends in Fujairah, all without relying on a private car,' she said. 'That level of seamless, cross-emirate connectivity could redefine how we think about home, work, and access.' Stay up to date with the latest news. Follow KT on WhatsApp Channels. Last week, Dubai Ruler Sheikh Mohammed bin Rashid Al Maktoum shared on social media how he rode the passenger train from Dubai to Fujairah and said that he was 'proud' of the country for the project. Etihad Rail is set to launch its passenger train service in 2026, marking a significant milestone in the country's transportation infrastructure. Reduced car dependency According to Sercan, one of the biggest impact the network will have is people's reduced dependency on cars. 'The rail network will offer a reliable and efficient transportation option even in smaller towns,' he said. 'Current projections estimate an annual ridership of 36.5 million passengers, underscoring the network's role as a cornerstone of national mobility transformation.' He added that beyond the environmental impact, the network will alleviate pressure on road infrastructure, with each train helping to reduce vehicle traffic by up to 300 trucks or private passenger vehicles. Farah Naz, Director Climate and Sustainability Advisory at Aecom, added that the passenger train network would steadily improve. 'As per the Green Transition vision, stated in the UAE's Net Zero Long Term Strategy, the country intends to invest 1,000 kilometres of train infrastructure between 2025 and 2030 to accommodate increased passenger travel,' she said. 'The intention is, the number of passenger trains will rise from 2025 onwards, with a progressive increase up to 2050. Therefore, this project is a significant player in alignment with the decarbonisation vision of UAE.' She shared how trains have one of the lowest carbon emissions among modes of transportation and that Etihad Rail would drastically lower the carbon footprint in the UAE. Jobs Farah explained how apart from having low carbon, low cost, sustainable transportation, the project would also 'establish and sustain a significant number of green jobs around the rail network and the cities and communities it will touch'. Sercan added that by 2030, the network is projected to generate over 9,000 direct jobs. 'In parallel, indirect employment opportunities are anticipated to emerge in retail, hospitality, and real estate, particularly in areas surrounding key station hubs,' he said. 'Improved connectivity is expected to stimulate local economic growth, attract new businesses, and enhance access to education and healthcare, making rural communities more vibrant, livable, and well-integrated with urban centers.' Farah added that a reduction in pollution from industry, energy, and transportation will lead to improved air quality and public health. Challenges Despite the positives, Shweta said that the success of the project could depend on a number of factors. 'How people live and work will depend on last-mile integration, first/last-mile connectivity, and how well it interfaces with local transit systems like the Dubai Metro, buses, and emerging micromobility options in other emirates,' she said. 'The rail alone is not a silver bullet, but it can certainly be a powerful backbone for a multi-modal ecosystem.' She added that if not paired with strong land use controls, there's a risk of sprawl, speculative real estate activity, or non-inclusive growth near stations, especially if smaller towns are seen merely as satellite dormitories rather than holistic communities.
Khaleej Times
26 minutes ago
- Khaleej Times
UAE: How luxury watches are becoming legacy investments
For a growing number of collectors in the UAE, luxury watches are more than accessories. They are assets, heirlooms, and personal milestones for which some are willing to shell out a hefty sum of Dh1.84 million. Industry insiders say the country's appetite for high-end timepieces has surged in recent years, driven by emotional value, scarcity, and cultural relevance. These watches, while still telling time, have evolved into tangible expressions of success and identity. When passion is sparked by the emotional weight these objects carry, this is what happened with Byron James, an international family lawyer based in Dubai, who speaks about the watches he's collected over the years with a mix of sentiment and precision. 'I was drawn in by the storytelling and legacy behind them,' he says, crediting Patek Philippe's iconic Generations campaign for shaping that view. His first serious purchase was the Patek Philippe Nautilus 5711, which was officially introduced in 2006. According to publicly available data, it was priced at around Dh128,000 when released. 'It wasn't just about the mechanics,' Byron explained. 'That watch represented a shift in how I saw myself and what I wanted to pass on.' The 5711 became one of the most iconic modern luxury sports watches, especially due to its clean design, steel case, and blue dial. It was discontinued in 2021, which further drove up demand and market prices. As of spring 2025, market valuations generally fall between Dh367,000 and Dh587,000 for the 5711 in good condition. Byron connects his professional mindset with his passion for watches. 'Law, like watchmaking, leaves no room for error. The details matter,' he said. His collection has expanded over the years, reflecting a growing understanding of both craftsmanship and rarity. 'It starts with aesthetics, but over time, you begin to see the stories each watch carries.' A new generation, a rare masterpiece 'Younger people are striving to buy their first luxury watch, and seasoned collectors can't stop growing their collections,' said Kevin Ghassemi, co-founder of WatchMaestro, a pre-owned luxury watch space. 'A few years ago, official retailers like Rolex and Patek Philippe had multiple watches available at retail, some even with discounts. Today, you're lucky if you make it onto a waitlist. Getting anything at retail has become nearly impossible.' At the very top end of the market, some pieces go far beyond waitlists. 'The most expensive piece we currently have in our showroom is a 1-of-1 Audemars Piguet Royal Oak Tourbillon,' said Kevin. Among the standout pieces in the showroom is this one-of-a-kind Royal Oak Tourbillon, a watch that exemplifies the highest levels of craftsmanship and exclusivity in the luxury market. While comparable Royal Oak Tourbillon references typically range from Dh880,000 to Dh1.84 million, one-off creations have achieved multi-million-dirham figures at international auctions. Its rarity places it in a category of watches whose value is defined less by brand pricing and more by collector demand, provenance, and market timing. 'With a piece like this, where there's only one in the world, there's no set price in the market. It's extremely valuable and highly desired by serious collectors. Once it's sold, it's gone for good. The best way to determine its real value is in an auction environment, where collectors bid based on what they believe it's truly worth.' That level of demand and exclusivity didn't come overnight. Kevin and his team launched WatchMaestro three years ago from a small office in Dubai's JLT district, working by appointment only. 'We had no background in the watch industry,' he explained. 'I came from digital marketing and web development, so we built a website and focused on lead generation. The response surprised us.' As the business grew, they opened a showroom to deliver a more immersive luxury buying experience. 'It's not just about the watch, it's about how you feel when buying it,' said Kevin. The Dubai space now hosts private viewings, consultations, and walk-ins, creating a trusted environment for collectors to engage with major brands like Rolex, Audemars Piguet, Patek Philippe, and Richard Mille. Kevin's personal brand also took off in parallel. Through Instagram and TikTok, he shares videos about watches, negotiation techniques, and insights into the business. 'Today I've got over 200,000 followers and millions of views,' he says. 'But more importantly, it's created a community of collectors and enthusiasts.' 'Watches aren't just about time,' he adds. 'They're assets, investments, and signs of accomplishment. In a place like the UAE, the watch you wear can say a lot about where you're going, and what you've already achieved.' A new wave of collectors Hassan Akhras, founder of AWG Online and a watch consultant, sees clear reasons behind this cultural shift. 'The region has a unique mix of high disposable income, economic optimism, and a rising awareness of luxury as investment,' he says. The pandemic and rise of crypto, he adds, accelerated that trend. 'People began rethinking how to store value, and watches offered both stability and identity.' Hassan confirms that younger collectors are driving current market growth. 'They're not waiting until their 40s anymore,' he says. 'They want to own something meaningful, something that says they've arrived.' Emerging brands and independent watchmakers are also gaining attention. While icons like Rolex and Patek still dominate demand, collectors are becoming more curious. 'There's more talk now about movement innovations, rare materials, and pieces with a story,' Hassan adds. Looking ahead As the UAE continues to position itself as a global hub for high-value collectibles, the luxury watch sector is evolving fast. 'Dubai has matured as a market,' Byron said. 'People here aren't just buying the hype anymore. They're learning, comparing, and making smarter choices.'
