Latest news with #RealEstateStrategy2033
Fintech News ME
28-07-2025
- Business
- Fintech News ME
DIFC Sees Record Growth in H1 2025 with 32% Surge in New Firms
Dubai International Financial Centre (DIFC) recorded its strongest first-half results to date, with continued growth across financial and innovation sectors, as well as increased participation from new companies and institutions. Between January and June 2025, a total of 1,081 new companies joined DIFC, representing a 32% increase compared to the same period in 2024. The total number of active firms now stands at 7,700. The increase reflects growing interest in Dubai and the DIFC as a base for regional and international operations. The number of firms regulated by the Dubai Financial Services Authority (DFSA) has reached 980. DIFC remains the only financial centre in the region operating at scale across banking, capital markets, asset management, insurance, and other financial services sectors. The Centre noted increased intra-community business activity as a result of this concentration. DIFC also reported a 72% rise in hedge fund registrations over the past 12 months, with 85 such entities now based in the Centre. The financial ecosystem includes 440 wealth and asset management firms, 289 banking and capital markets institutions, and 135 insurance-related companies. The number of family-related entities and foundations continues to grow, supported by Dubai's role as a regional wealth hub. DIFC is currently home to 1,035 family-related entities and 842 foundations. The innovation and technology segment also expanded, with 1,388 AI, fintech, and Innovation firms now operating within DIFC, a 28% year-on-year increase. Ignyte, the Centre's digital platform for start-ups, has delivered AED 182 million in documented benefits since its launch in late 2024. A proptech Hub has also been introduced to support innovation in the real estate sector, in line with Dubai's Real Estate Strategy 2033. To support ongoing growth, DIFC is developing over 1.6 million square feet of new commercial space, with occupancy expected to begin from Q1 2026. The workforce within the Centre increased by 9% over the past year to 47,901 people. The DIFC Academy, in partnership with 32 education and training providers, continues to support skills development across sectors. 'DIFC's continued success is powered by the best infrastructure, progressive legislation, robust regulation, and an unmatched community,' said Arif Amiri, Chief Executive Officer of DIFC Authority. 'Aligned with the D33 Agenda, we are not just driving the future of finance, we are building it together.'
Arabian Post
07-07-2025
- Business
- Arabian Post
Dubai Pioneers Crypto‑Powered Real Estate Ecosystem
Dubai Land Department has formalised an agreement with global cryptocurrency firm Crypto. com to establish a blockchain‑driven ecosystem enabling property purchases and sales using digital currencies. The memorandum of cooperation, signed on 6 July, aims to streamline investor verification, custody and settlement processes while advancing real estate tokenisation—supporting the emirate's Real Estate Strategy 2033 and its AED 1 trillion transaction goal. At the heart of the partnership is the creation of a secure digital environment where investors can trade tokenised real estate assets. The initiative addresses liquidity constraints by allowing fractional ownership and simplified settlement, driven by blockchain's traceability. The DLD will oversee regulatory compliance, administrative logistics and pilot implementation, while Crypto. com will supply the technical solutions, advisory services, and legal documentation necessary to support the ecosystem. Dubai's ambitions extend beyond traditional real estate frameworks. In May, the emirate launched 'Prypco Mint', the MENA region's first licensed tokenised real estate platform. This pilot allows UAE residents to invest in fractional property ownership through tokens, with transactions settled in dirhams. Collaborators on that front include the Virtual Assets Regulatory Authority, the Central Bank, Dubai Future Foundation and Zand Digital Bank. The platform recorded over 3,000 expressions of interest and aims to scale globally, targeting 7 per cent of Dubai's property market by 2033—an estimated AED 60 billion scope. ADVERTISEMENT These parallel developments reflect Dubai's strategic trajectory. Regulatory authorities, including VARA, have updated frameworks to accommodate real-world asset tokenisation, enabling secondary market trading for tokenised property assets. This aligns with broader fiscal agendas, such as the Dubai Economic Agenda D33 and its push for financial innovation and sustainable growth. The tokenisation model dovetails with the Digital Real Estate Strategy 2033, which strives to establish a knowledge-driven, sustainable ecosystem and elevate the emirate into a leading global tech‑real estate nexus. Dubai's use of blockchain has been expanding steadily. In January, DAMAC Group partnered with blockchain platform MANTRA to tokenise assets exceeding $1 billion, signalling developer-level adoption of tokenised real-world asset models. Moreover, since 2017, DLD has maintained a blockchain-based registry for property contracts, leases and utility links, evidencing a long‑term policy shift towards digital infrastructure. Industry analysts highlight tokenisation's potential to democratise real estate investment by lowering entry thresholds and enhancing accessibility. Experts from institutions like McKinsey, Boston Consulting Group and Ripple forecast exponential growth in tokenised asset markets in the coming decade. The integration of Crypto. com's technology will further reinforce investor confidence by embedding robust custody, verification processes and compliance layers within the transaction lifecycle. Market participants are responding positively. In April, Trump Organisation's executive vice‑president Eric Trump confirmed that its $1 billion Dubai Tower project will accept Bitcoin and other cryptocurrencies. That endorsement illustrates how major developers are increasingly aligning with Dubai's fintech trajectory. Combined with the government move to permit digital‑currency payment for public service fees, the emirate is crafting a comprehensive crypto‑parallel economy. Despite the momentum, challenges lie ahead. Regulatory coherence remains critical, especially as tokenisation pushes into international investor markets. Maintaining alignment among entities like DLD, VARA, the Central Bank and future regulators will be essential. Ensuring security against cyber threats and fraud, while keeping tokens legally enforceable as property rights, will test institutional resilience. Additionally, integrating on‑chain records with off‑chain legal documentation poses operational complexities. Nevertheless, Dubai appears poised to lead a global shift. By embedding blockchain‑based real estate transactions at both governmental and private levels, the emirate is opening market participation to a broader class of investors. Crypto. com's involvement signals increased legitimacy for digital currencies as settlement instruments in real asset markets.
Time Out Dubai
02-07-2025
- Business
- Time Out Dubai
Dubai launches first-time home ownership scheme for expats and Emiratis
If you're thinking of getting on the property ladder then Dubai has just made it easier for you to do so. The Dubai Land Department and Dubai Department of Economy and Tourism have launched a new programme a new home ownership programme for Emiratis and expats. The First-Time Home Buyer Programme will offer priority access to new launches, preferential pricing and tailored mortgage solutions in the emirate. Officially launched on Wednesday July 2, the initiative will offer support for first-time buyers. It's part of the emirate's Real Estate Strategy 2033, which aims to raise home ownership rates and double the sector's contribution to Dubai's GDP. Leading developers behind several of the city's biggest residential projects including Azizi Developments, Beyond, Binghatti Holding, DAMAC, Danube, Dubai Properties, Ellington Properties, Emaar Properties, Majid Al Futtaim, Meraas, Nakheel, Palma Holding and Wasl have all committed to the programme. The developers will offer support to first-time buyers by providing priority access to units in new off-plan launches and enhanced commercial terms – including preferential pricing on units up to Dhs5 million. Dubai launches landmark initiative further enabling first-time homeownership offering aspiring Emirati and expatriate homeowners priority access to new launches, preferential prices, and tailored mortgage solutions. The joint initiative by Dubai Land Department and the Dubai… — Dubai Media Office (@DXBMediaOffice) July 2, 2025 Who qualifies for the Dubai First-Time Home Buyer Programme? Participating banks include Commercial Bank of Dubai, Dubai Islamic Bank, Emirates NBD, Emirates Islamic and Mashreq bank. These banks will provide tailored mortgage products designed specifically for first-time home buyers. More partner banks will be added to the initiative at a later date. The programme has been created for all nationalities and income levels. It will be open to applicants aged 18 and above who are already residents of the UAE and who do not currently own a freehold residential property in Dubai. Those interested in the programme must register online here. The initiative has been launched as part of the UAE's Year of Community, which aims to help foster a community spirit throughout the country. Helal Saeed Almarri, Director General of the Dubai Department of Economy and Tourism (DET), said the programme lowers the barrier to home ownership. He said: 'This initiative represents a powerful economic lever—stimulating long-term demand, driving liquidity into the real estate ecosystem, and accelerating the sector's contribution to GDP in line with the Dubai Economic Agenda, D33. 'By lowering entry barriers to home ownership 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. 'In a global climate where housing accessibility is a structural challenge, Dubai is offering a model of sustainable urban development—one that supports talent retention, fosters community cohesion, and enhances the city's competitiveness as a place to live, work, and invest.' In other Dubai news Dubai Summer Surprises 2025 official dates revealed Big sales, fun concerts and so much more 14 cool things you can do in Dubai for 10 Dirhams (or less) Low on dirhams? No problem How to get 30% off taxi fares in Dubai Available in over 6,000 cabs
Hi Dubai
29-05-2025
- Business
- Hi Dubai
Dubai Real Estate Attracts Global Investors Amid US Tariffs, Says Betterhomes Report
Dubai's property market is emerging as a global safe haven for investors amid rising US tariffs on steel and aluminum, according to a new white paper released by Betterhomes. The report, titled Will Trump's Tariffs Impact UAE Real Estate?, outlines how recent US trade measures are reshaping investor sentiment. While the tariffs are primarily aimed at industrial sectors, their ripple effects are being felt across global markets—including real estate. Betterhomes notes a surge in interest from US and Chinese investors, with inquiries up by over 40% and website traffic from those countries jumping 60%. 'Investors are looking for stability, and Dubai is offering that,' said Louis Harding, CEO of Betterhomes. 'We've seen a clear shift since the tariffs were introduced.' The findings align with previous research showing Dubai as a magnet for global wealth. The city now leads in attracting relocating millionaires, highlighting its rising status as a destination for luxury living and strategic investment. Despite global uncertainty, the UAE's economic outlook remains strong. A growing population, robust oil production, a record-breaking 19 million tourist arrivals in 2024, and over 3,500 ongoing infrastructure and real estate projects are fueling confidence. Dubai also plays a significant role in global trade, exporting 350,000 tonnes of aluminum to the US last year, especially for use in key sectors like aerospace and construction. Looking ahead, the emirate's Real Estate Strategy 2033 and national plans to double foreign investment to $65 billion signal a long-term vision. With targets to boost housing supply and increase homeownership to 33%, Dubai is positioning itself as more than just a luxury hotspot—it's aiming to become a central hub in the global property market. News Source: Betterhomes
Time Out Dubai
23-05-2025
- Business
- Time Out Dubai
Dubai cashless strategy: Why Dubai is moving on from physical money
Dubai big plans to eventually become a cashless city. The Dubai cashless strategy will eventually mean that all payments in the city across the government and private sectors will go digital. The initiative, first announced in October 2024, aims to ditch notes and coins for digital payments throughout the emirate. Cashless transactions are expected to hit around 90 percent of all transactions by 2026, potentially boosting economic growth by over Dhs8 billion annually. Becoming cashless does not mean that money will be abandoned altogether but, instead, payments will be digital with banking apps and credit cards currently the main way to pay without physical notes or coins. The strategy will also prioritise innovations in digital payments, including AI-driven solutions and contactless technologies to offer even more ways to pay. And the latest development by DIFC and Dubai Finance means that there will be specialised workshops to help businesses make the switch. The collab will also bring AI-driven initiatives that add value for workers, tourists and the broader community by adopting digital payments. In the presence of Ahmed bin Saeed, Dubai Finance signs a Memorandum of Understanding with the Dubai International Financial Centre to support the implementation of the Dubai Cashless Strategy. The agreement focuses on the strategy's three core pillars—governance, innovation, and… — Dubai Media Office (@DXBMediaOffice) May 16, 2025 The city plans for 100 percent of stores to accept digital payments and for everyone living in the city to be able to pay digitally. That's right, bartering at the souq with notes or rummaging around the back of the sofa for long-lost change could soon be a thing of the past. The Dubai Cashless Strategy was initially revealed late on Tuesday October 1 following a meeting of The Executive Council of Dubai. Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, chaired that meeting, outlining that the city aims to make itself one of the top five cashless cities in the world. .@HamdanMohammed chairs @TECofDubai's meeting; approves the Education Strategy 2033, the Real Estate Strategy 2033 and Dubai Cashless Strategy. — Dubai Media Office (@DXBMediaOffice) October 1, 2024 Dubai has also outlined that it wants to make a range of financial technology services available to people in the city. The plan to make the switch to becoming cashless has been brought about with consumers, payment service providers and merchants in mind with the move set to have a wider benefit of convenience and speedier payments throughout the emirate. At the meeting, the city also discussed its overarching real estate strategies, plans for education and the future of transport in Dubai. If you've got some spare pennies and have no idea what to do with them, then check out our guide on what to do with Dhs1 in Dubai. Looking for things to do in Dubai? 112 best things to do in Dubai in 2025 Everything to tick off your Dubai bucket list 50 free things to do in Dubai Feeling the pinch? Enter free things to do Here's how to eat at 10 expensive Dubai restaurants for less Early bird dinners, lunch specials and more
