Latest news with #DET
Mid East Info
6 days ago
- Business
- Mid East Info
Dubai Chamber of Commerce organises workshop on D33 Industry Friendly Power Policy with the participation of 46 private sector representatives
Session held in collaboration with the Dubai Electricity and Water Authority (DEWA) and the Dubai Department of Economy and Tourism DET Dubai, UAE – Dubai Chamber of Commerce, one of the three chambers operating under the umbrella of Dubai Chambers, recently held a virtual workshop on the D33 Industry Friendly Power Policy in partnership with Dubai Electricity and Water Authority (DEWA) and the Dubai Department of Economy and Tourism (DET). The session, which was organised by the chamber's Centre for Responsible Business, brought together 46 representatives from the private sector to explore the policy's objectives, eligibility criteria, and business benefits The D33 Industry Friendly Power Policy is designed to support and accelerate sustainability ambitions and promote the transition to a green economy in the emirate, in line with the Dubai Economic Agenda (D33). The policy enables manufacturers, data centres, and agri-tech entities to install solar energy systems for internal use, generating the power required to meet their demands and reduce energy costs. The initiative is designed to contribute to increasing the share of clean energy in Dubai's energy mix. The workshop covered the technical requirements and eligibility criteria for benefiting from the policy, which aims to support the industrial sector by reducing the cost of doing business, achieving clean energy targets, and accelerating decarbonisation efforts to reach carbon neutrality in Dubai. The session comes as part of a series of workshops organised by Dubai Chamber of Commerce in cooperation with DEWA and DET to familiarise the private sector with the benefits and mechanisms of the D33 Industry Friendly Power Policy and its role in empowering companies to lead sustainability efforts in targeted sectors. The Centre for Responsible Business plays a pivotal role in advancing responsible and sustainable practices in Dubai. It is committed to encouraging companies to adopt best-in-class Environmental, Social, and Governance (ESG) standards that enhance performance and competitiveness, while also strengthening their social and environmental contributions. The centre offers a range of platforms, tools, and knowledge resources to help businesses integrate governance, sustainability, and social responsibility throughout their corporate practices.
Hi Dubai
7 days ago
- Business
- Hi Dubai
Top Government-Backed Business Support Platforms in Dubai: A Guide for Entrepreneurs and SMEs
Dubai has long positioned itself as a leading hub for entrepreneurship in the region, and that's not just a marketing slogan—it's backed by real infrastructure, funding, and government commitment. According to the UAE Ministry of Economy, small and medium enterprises (SMEs) represent more than 94% of all companies operating in the country and contribute over 60% to the national GDP. So, what's powering this growth behind the scenes? Beyond funding and free zones, Dubai offers a variety of officially backed networking platforms designed specifically to connect entrepreneurs, founders, and SME owners with the right people, resources, and opportunities. Could a single conversation at a government-backed forum unlock your next big client, supplier, or investor? With the competitive pressure of Dubai's fast-moving business environment, staying connected isn't just helpful. It's often essential. These structured forums do more than facilitate introductions. They offer access to government support programs, exclusive workshops, procurement opportunities, and regional exposure that's difficult to replicate through informal channels. How else can a startup founder get direct access to policymakers or corporate decision-makers? In this article, we explore the top official business networking groups and forums in Dubai, highlighting who they're for, how to join, what they cost, and what kind of support entrepreneurs can realistically expect. Dubai SME (Department of Economy and Tourism) Dubai SME, a division of the Department of Economy and Tourism (DET), was established in 2002 to support UAE National entrepreneurs through every stage of their business journey. Formerly known as the Mohammed Bin Rashid Establishment for SME Development, it offers guidance, funding, and streamlined access to government services. Its integration within DET reflects a long-term commitment to SME growth, ensuring alignment with Dubai's economic goals and simplifying official procedures for business owners. Best for: New entrepreneurs launching businesses. UAE/GCC nationals aiming for long-term business growth. Existing SMEs needing scale-up support. Enterprises targeting government contracts (10% of contracts are allocated through Emirati Supplier Programme). Dubai-based businesses (including select free zones). Membership Requirements (for UAE/GCC nationals): UAE or GCC nationality with valid documents. Max 5 trade licenses per applicant (fully/partially owned). Must reside and operate in Dubai. Fees: AED 1,000 (Years 1–3), AED 2,000 (Years 4–5), or AED 1,050 flat for new/renewed license (excluding federal fees). Government Procurement Program: 100% UAE-owned and managed. Dubai-based business and residence. Must meet Ministry of Finance's SME criteria. Requires trade license, passport, signature authorization, and audited report (if 5+ years old). Funding Services: Enterprise must be 100% UAE-owned and Dubai-based. Applicant must actively manage the business (ages 21–65). 20%+ capital contribution, with consent-based appointments for key roles. Dubai Chambers (Commerce, International & Digital Economy) Dubai Chambers operates under a three-chamber model—Commerce, International, and Digital Economy—established through Law No. 1 of 2022 to boost Dubai's non-oil trade and global business appeal. The Dubai International Chamber focuses on attracting foreign investment and helping local businesses expand internationally. This shift from a single entity to a multi-chamber structure reflects Dubai's commitment to economic diversification and offers more targeted support to businesses based on their specific needs and growth goals. Best for: Mainland and free zone companies in trade, industry, or services. SMEs aiming for international expansion (e.g., via Dubai International Chamber's 'New Horizons'). Foreign investors and international companies. Businesses involved in trade needing COOs, Carnets, or attestations. Companies looking for local/global networking and industry insights. Membership Details: Open to all business types (sole, local, foreign, or free zone). Documentation varies by business structure but typically includes a trade license, a passport/Emirates ID, an MOA, and a POA (if applicable). Fees & Tiers: Handicrafts/e-traders: AED 50–300 Bronze : AED 49/month (basic access and listings) : AED 49/month (basic access and listings) Silver : AED 199/month (premium networking, advisor, reports) : AED 199/month (premium networking, advisor, reports) Gold : AED 999/month (global reach, market research, featured listings) : AED 999/month (global reach, market research, featured listings) Dubai SME members enjoy a 5-year fee exemption. Ministry of Economy – National SME Programme The National SME Programme, under the Ministry of Economy and established by Federal Law No. 2 of 2014, serves as the federal arm of SME support in the UAE. It empowers Emirati entrepreneurs through coordinated efforts with the government and private sectors, offering marketing, funding, and training support. Focused on sustainable development and national competitiveness, the program plays a key role in promoting locally made products and fostering a new generation of Emirati business leaders. Best for: UAE nationals (18+ years old). Businesses less than 3 years old or with fewer than 4 existing trade licenses. 100% UAE-owned, registered, and compliant with National SME classification. Entrepreneurs in trading, services, or industrial sectors. Companies seeking participation in exhibitions, training, or market insights. Requirements: Valid documents (passport, family book, ID, license, photo). Must be tax registered and insured. Manufacturers need an ISO certification. Cost & Validity: Membership is free. Valid for 2 years post-trade license renewal. Dubai Economic Development Department (DET) The Department of Economy and Tourism (DET), formerly DED, is the main body shaping Dubai's economic strategy. It supports the emirate's shift toward a diversified, service-based economy through agencies like Dubai SME and Dubai Exports. DET handles mainland licensing, drives export growth, and promotes foreign investment. Its rebranding reflects the integration of tourism into Dubai's economic priorities, creating a unified support system for both traditional businesses and the hospitality sector. Entrepreneurs should note that DET governs mainland licensing, while free zones have separate authorities. Best for: Entrepreneurs setting up mainland businesses. Companies needing license renewals, trademarks, and permits. Exporters seeking new markets (via Dubai Exports). SMEs looking for FDI opportunities or government procurement. Business Setup Process: Choose legal form and jurisdiction. Register trade name, submit documents, apply for the appropriate license. Provide lease/NOC, passport copies, and any required plans or forms. Export Support: Register via eServices portal. Update profile, request services. Programs like trade missions require separate eligibility. Free Zone Interaction: DET does not regulate free zones, but free zone entities must follow DET procedures to operate branches on the mainland. Required documents include trade name certificate, agent agreements, and Ministry of Economy registration (AED 15,000 fee). Emerging Official Platforms for Business Growth Dubai SME Learning Hub The Dubai SME Learning Hub is a digital platform launched under the D33 agenda to support entrepreneurs with AI-powered, expert-led courses. It offers tailored learning for every stage of business growth, helping turn ideas into successful ventures. By focusing on Dubai-specific needs, the Hub supports a future-ready SME ecosystem and aligns with the city's long-term economic goals. Best for: Entrepreneurs in or entering the Dubai market. Busy individuals seeking flexible, localized business knowledge. Founders needing guidance in finance, innovation, and marketing. Anyone looking for certifications after completing courses. Key Details: No registration required (though UAE Pass/email enhances access). Available in English and Arabic. Free and mobile-compatible. Area 2071 (Dubai Future Foundation) Area 2071, launched in 2017 by the Dubai Future Foundation, is a purpose-built innovation hub designed to help Dubai become the world's leading city of the future by 2071. More than just a co-working space, it connects startups, researchers, and government entities in a shared environment focused on breakthrough ideas. With licensing, visa facilitation, and access to labs, accelerators, and flexible workspaces, it streamlines startup growth. The platform prioritizes ventures with proven traction, offering them resources to scale and contribute to Dubai's long-term innovation agenda. Best for: Entrepreneurs, researchers, and startups working on transformative ideas. Growth-stage startups with traction, GCC relevance, and international ambitions. Public-private innovation partnerships. Facilities & Support: 3-year business licenses and Golden Visa pathway. Community access to labs, investors, and collaborative networks. Launchpad program for startups with: USD 500,000+ annual revenue. Institutional capital raised. Willingness to move the global HQ to the UAE. Dubai's government has built a well-rounded support system for entrepreneurs and SMEs, offering targeted resources for every stage of business, whether you're launching locally through Dubai SME, expanding globally via Dubai Chambers, or innovating within future-ready spaces like Area 2071. Each platform is purposefully designed to meet specific business needs, from funding and training to global networking and digital transformation. By aligning with these official forums, entrepreneurs can navigate Dubai's business landscape with greater clarity, access, and confidence, making it easier to grow, connect, and thrive in one of the world's most business-forward cities. Also read: Protect Your Ideas: Trademark Registration in Dubai Learn how to register a trademark in Dubai with this step-by-step 2025 guide. Understand eligibility, costs, legal benefits, and common mistakes to protect your brand effectively in the UAE. Why Summer is the Best Time to Digitally Transform Your Business in Dubai Summer in Dubai offers the ideal time to upgrade systems, train teams, and prepare your business for a stronger, more efficient Q4. Everything You Need to Know About Local SEO in Dubai Explore why local SEO matters, how to implement it effectively, and how to track your success. By the end, you'll have a clear roadmap to boost your visibility and attract the right customers in Dubai's competitive digital landscape. DIFC Enacts Legislative Amendments to Strengthen Data Protection and Clarify Financial Laws DIFC enacts new amendments to key laws, including enhanced data protection rights and clarifications to insolvency, security, and employment laws, aligning with international best practices.
Zawya
16-07-2025
- Business
- Zawya
Nurturing Tomorrow's Leaders: Empowering Emirati talent for a competitive future
An inside look at how the Dubai Department of Economy and Tourism is pioneering market-aligned HR initiatives to shape a future-ready workforce that serves national priorities Dubai, United Arab Emirates: 'Today, I feel equipped with a strong set of leadership tools, and I know exactly when and where to apply them in my role,' says Muna Al Shamsi, a member of the Investment Support team at the Dubai Department of Economy and Tourism (DET). 'I knew the learning would be directly relevant to the opportunities within the organisation I'm so eager to grow in.' Muna's journey is a testament to DET's commitment to cultivating forward-thinking Emirati employees and reflects the broader transformation taking place across Dubai's government sector, driven by pioneering talent development programmes. Dubai's rise as a global business and tourism hub is rooted in bold ambition, strategic foresight, and a long-standing commitment to investing in people, with DET taking inspiration from the city's visionary leadership to redefine what it means to nurture public sector talent in a rapidly evolving world. Aligned with the goals of the Dubai Economic Agenda, D33, to double the size of Dubai's economy in the decade up to 2033 and further consolidate its position as a leading global destination for business and leisure, DET is focused on building a resilient, skilled, and future-ready workforce. 'Human capital is not just a pillar of our strategy, it is its foundation,' says Nada Al Marri, Human Resources director at DET. 'At the Dubai Department of Economy and Tourism we consider talent development a national priority. Our programmes are aligned with the goals of the Dubai Economic Agenda, D33, and are designed to accelerate Emirati integration into the private sector while raising the standard of government excellence. This is the legacy of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, to empower people as the engine of Dubai's future.' This vision is being brought to life through a series of flagship initiatives designed not just to train, but to transform the future workforce. Among them are the Massar Graduate Programme, the Mini Master of Business Administration (MBA), and the Industry Exposure Programme. Each pathway plays a distinct role in shaping leadership and strengthening collaboration between the public and private sectors, embedding private-sector HR practices, and delivering measurable outcomes. Massar Graduate Programme: Building Foundations For many young Emiratis, the Massar Graduate Programme represents the first step into the world of government service. Created for recent graduates, the programme offers a carefully designed introduction to the inner workings of DET, from departmental rotations and mentoring to tailored skills development. Developed in collaboration with PwC, one of the world's largest providers of assurance, tax, and business consulting services, the programme combines structured learning, coaching, on-the-job experience, and performance evaluation. It is not just about technical competence; it is about instilling a mindset of curiosity, critical thinking, and long-term vision. Since its launch in September 2024, 18 participants have completed the programme and taken up roles across DET departments, including the Mohammed bin Rashid Establishment for Small and Medium Enterprises Development (Dubai SME). Mini MBA: Accelerating Leadership Potential At a more advanced stage of the talent journey is DET's Mini MBA, another example of how DET is cultivating in-house expertise. Targeted at high-potential employees, this intensive development programme comprises 10 modules covering core areas such as business strategy, finance, operations, and leadership. Delivered to 68 participants in partnership with renowned institutions such as the Human Network International (HNI) and Alliance University, the Mini MBA equips participants to understand the commercial drivers behind government decision-making, preparing them to take on broader responsibilities within DET and beyond. 'The fact that the Mini MBA course is designed by DET itself is what really motivated me,' says Muna Al Shamsi. Industry Exposure Programme: Crossing Sectors A unique talent initiative at DET is the Industry Exposure Programme, which has placed 39 DET employees in short-term secondments with leading private sector organisations such as KPMG, Al-Futtaim, and Unilever. With a goal to bring public sector talent face-to-face with real-world business challenges, each placement is carefully planned, from role definition to outcome measurement, and ensures that both the employee and the host company benefits from the programme. Participants come away with hands-on insights into everything from digital transformation and innovation to customer service and operations. For many, the experience is nothing short of transformative. Investing in More than Jobs These programmes do more than support individual career progression, they build a broader culture of innovation, excellence, and accountability across government departments. Al Marri adds: 'We are developing an ecosystem that fuels Dubai's growth and gives young Emiratis something to aspire to. By working with global partners such as KPMG and Unilever, we are redefining public sector human resources and equipping our people with transferable skills that transcend industries. This cross-sector approach reflects the Dubai model: agile, innovative and built on partnerships that drive Dubai's economic transformation and global ambitions. When we invest in people, we invest in the city's future.' And that future is unfolding fast. With more than 800 artificial intelligence (AI) companies based in Dubai and strong growth across sectors such as fintech, tourism, and logistics, the demand for agile and skilled talent is increasing. In 2024, Dubai ranked third globally for job creation, according to the Dubai FDI Annual Results & Rankings report – which is a testament to the city's proactive approach. DET's programmes are meeting this momentum and shaping what comes next. Today, more than 60,000 students are enrolled in vocational and technical education programmes in Dubai. Meanwhile, according to the 'Jobs of the Future' report, published recently by DET in collaboration with the Knowledge and Human Development Authority (KHDA), 25% of current work tasks worldwide could be transformed by automation and AI. Looking ahead, DET plans to expand its reach by integrating more strategic partners, scaling its programmes, digitising training delivery, and aligning its programmes with Dubai's priorities in emerging sectors such as AI and sustainability. Al Marri says: 'With the D33 Agenda guiding our path, we are committed to ensuring every individual at DET has the tools and confidence to lead. We're building a talent ecosystem that positions Dubai as a global leader in human capital development. Our work today will shape the city's success for decades.' About Dubai Department of Economy and Tourism (DET) With the ultimate vision of making Dubai the world's leading commercial centre, investment hub and tourism destination, Dubai Department of Economy and Tourism (DET) is mandated to support the Government in positioning the emirate as a major hub for global economy and tourism, and in boosting the city's economic and tourism competitiveness indicators, in line with the goals of the Dubai Economic Agenda, D33, which aims to double the size of the emirate's economy and consolidate its position among the top three global cities over the next decade. Under this remit, DET is driving efforts to further enhance Dubai's diversified, innovative service-based economy to attract top global talent, deliver a world-class business environment and accelerate productivity growth. Additionally, DET is supporting Dubai's vision to become the world's best city to visit, live and work in by promoting its diverse destination proposition, unique lifestyle and outstanding quality of life, overall. DET is the principal authority for planning, supervising, developing and marketing Dubai's business and tourism sectors. It is also responsible for licensing and classifying all types of businesses, including hotels, tour operators and travel agents. DET's portfolio includes Dubai Economic Development Corporation (DEDC), Dubai Business Registration and Licensing Corporation (DBLC), Dubai Corporation for Consumer Protection and Fair Trade (DCCPFT), Dubai SME, Dubai Corporation for Tourism and Commerce Marketing (DCTCM), Dubai Festivals and Retail Establishment (DFRE) and Dubai College of Tourism (DCT).
Filipino Times
03-07-2025
- Business
- Filipino Times
Dubai launches new scheme to help expats and Emiratis buy their first home
Dubai has introduced the First-Time Home Buyer Programme to make it easier and more affordable for residents, both expatriates and Emiratis, to purchase their first homes. The program offers priority access to new property launches, special pricing on units up to AED 5 million, and mortgage solutions tailored to buyers' needs, Dubai Media Office reported. Launched on Wednesday by the Dubai Land Department (DLD) and the Dubai Department of Economy and Tourism (DET), the initiative was unveiled in the presence of representatives from major banks and real estate developers. It supports Dubai's goal to increase homeownership and double the real estate sector's contribution to the economy by 2033. Designed for all nationalities and income levels, the program is open to applicants aged 18 and above who live in the UAE and do not currently own freehold residential property in Dubai. 'By lowering entry barriers to homeownership for Emiratis and expatriates alike, we are enhancing investor confidence, increasing market absorption rates, and reinforcing Dubai's global positioning as a city where personal aspirations and business ambitions converge,'His Excellency Helal Saeed Almarri, Director General of DET, said. His Excellency Omar Bu Shehab, Director General of DLD, noted that the programme aligns with the Dubai Real Estate Strategy 2033 and the Dubai Economic Agenda D33, aiming to make homeownership more accessible while encouraging long-term investment among residents. Participating banks include Commercial Bank of Dubai, Dubai Islamic Bank, Emirates NBD, Emirates Islamic, and Mashreq Bank, all offering mortgage products tailored for eligible first-time buyers. Meanwhile, leading real estate developers such as Azizi Developments, Beyond Developments, Binghatti Holding, DAMAC Properties, Danube Properties, Dubai Properties, Ellington Properties, Emaar Properties, Majid Al Futtaim Group, Meraas, Nakheel, Palma Holding, and Wasl have committed their support to the programme.
Khaleej Times
03-07-2025
- Business
- Khaleej Times
Flexible payments, lesser fees: How Dubai's new initiative benefits first-time home buyers
Dubai's latest initiative to incentivize first-time homebuyers is set to make property ownership more affordable for investors and end-users. On Wednesday, the Dubai Land Department (DLD), in collaboration with the Department of Economy and Tourism (DET), launched the First-Time Home Buyer Programme. The initiative offers priority access to new developments, preferential pricing, and customized mortgage solutions via the DLD platform and the Dubai REST app. Open to all UAE residents aged 18 and above, the programme caps investments at Dh5 million. According to global consultancy Knight Frank, property prices in Dubai are already more competitive than those in many major global cities such as New York, London, Tokyo, Hong Kong, Mumbai, Singapore, Geneva, Shanghai, and Vienna. Participating developers — including Azizi Developments, Beyond Developments, Binghatti Holding, Damac Properties, Danube Properties, Dubai Properties, Ellington Properties, Emaar Properties, Majid Al Futtaim Group, Meraas, Nakheel, Palma Holding, and Wasl — are offering discounted mortgage rates and preferential prices, making property more affordable for first-time buyers. Azizi Developments announced exclusive offers for new buyers through the dedicated platform operated by DLD and DET. The company noted that it would direct sales to interested buyers at favorable rates by reallocating brokerage commissions, further enhancing affordability. 'The programme not only enables renters to become homeowners, but also promotes economic stability by encouraging long-term financial planning and asset-building," said Mirwais Azizi, founder and chairman of Azizi Developments. "Through enhanced accessibility and tailored pricing, we are helping more residents transition into homeownership while supporting real estate sector growth," he added. Easing entry into the market Riz Ahmed, CEO of SmartCrowd, emphasized that early access to launches, special pricing, flexible payment plans, and the option to split DLD fees into interest-free installments will ease the path for first-time buyers. 'It's definitely becoming more manageable. While the initiative doesn't lower prices directly, it reduces initial financial pressure through lower fees, better mortgage rates, and flexible payment options,' he explained. Nitin Chopra, CEO of Range International Property Investment, said that by opening the programme to all residents over 18 — regardless of nationality— and setting a cap at Dh5 million, the government is targeting the mid-market segment where demand is strong and affordability is crucial. 'The programme modernizes homebuying by digitizing traditional paper-based processes. Licensed brokers onboard buyers via a centralized 'Dubai Brokers' portal, positioning them as compliance custodians within a government-backed framework,' Chopra said. He also highlighted that close coordination with Dubai's leading developers and banks ensures mortgage solutions are tailored to the programme's needs, aligning supply and finance with structured, demand-led policy. 'While the full impact remains to be seen, the initiative is poised to expand access, relieve price pressures, and diversify homeownership in Dubai's growing market," he said. Empowering a new generation of buyers Navneet Mandhani, co-founder of Karma Developers, praised the programme for easing the financial burden on new buyers — whether through reduced upfront costs, waived fees, or better mortgage access. 'This initiative empowers a new generation of residents and expatriates to take their first step toward homeownership,' he said. 'For investors, it expands the buyer base and injects fresh liquidity into the market. Over time, these incentives will foster a more mature market focused on end-user growth over speculative investment.' Despite a steady rise in property prices due to high demand and limited supply, Mandhani believes Dubai remains relatively affordable compared to other global cities. 'Developers and lenders are responding with flexible mortgage options, tailored payment plans, and lower entry thresholds. Factoring in long-term rental savings, capital appreciation, and the stability of Dubai's real estate market, buying now makes strong financial sense for residents with stable incomes and a long-term outlook,' he added. Widening market participation Samer Ambar, co-founder and CEO of Reef Luxury Developments, said the new programme makes homeownership significantly more accessible for both first-time investors and end-users. 'Offering a range of pricing options and manageable payment structures makes a tangible difference for first-time buyers. It provides a meaningful advantage that wouldn't otherwise exist,' he said. Beyond affordability, Ambar emphasized that developers must ensure these homes remain high-value, long-term assets for buyers. Veer Doshi, CEO and managing director of Vincitore Realty, noted that the initiative not only helps renters become owners but also fosters community stability and belonging. 'Exclusive incentives like preferential pricing and flexible mortgage options enable residents to fulfill their homeownership dreams, while also promoting sustainable sector growth,' said Doshi. 'For both end-users and investors, these changes break down traditional barriers and create a more inclusive, resilient market.' With mortgage rates stabilizing and developers offering investor-friendly plans, Doshi said owning is now often comparable — or even cheaper — than long-term renting. 'Market conditions and developer incentives have created a unique window for first-time buyers to enter without compromising on location, quality, or long-term value,' he added. Driving long-term stability Yogesh Bulchandani, CEO and co-founder of Sunrise Capital, highlighted how the initiative lowers the entry barrier for aspiring homeowners through a combination of exclusive benefits: early access to launches, flexible payments, and tailored mortgage products. 'For end-users, it offers a more attainable path to long-term stability and wealth creation. For investors, it signals a maturing and resilient market supported by broader buyer participation — especially from younger residents and long-term expatriates,' he said. By capping eligible properties at Dh5 million, introducing zero-interest registration fee payment plans, and launching exclusive mortgage products, Bulchandani believes Dubai is making homeownership more accessible than ever. 'Combined with strong rental yields and enhanced residency options, buying a home in Dubai is now a practical, financially sound decision — not just an aspiration. This initiative will convert more tenants into owners, stimulate genuine end-user demand, and lead to a more balanced and sustainable real estate market,' he concluded.
