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Dubai to Launch PropTech Hub to Boost AED4.5B Market

Home » Latest news » Dubai to Launch PropTech Hub to Boost AED4.5B Market His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum has announced the launch of The Dubai PropTech Hub. Sheikh Hamdan, Crown Prince of Dubai and Chairman of the Higher Committee for Future Technology and Digital Economy, chaired the committee's latest meeting and issued the directive. The Hub aims to accelerate the growth of the PropTech market, with a goal to more than double its value to over AED4.5 billion in five years. This move aligns with the Dubai Economic Agenda D33 and the Dubai Real Estate Sector Strategy 2033. It was revealed that the Hub will foster real estate innovation and position Dubai as a global PropTech leader. The new initiative also supports the emirate's digital transformation efforts across key sectors. Sheikh Hamdan reviewed the committee's business report during the meeting. The report assessed previous achievements, tracked progress on current initiatives, and explored new proposals to boost digital enterprise development. Sheikh Hamdan stated that Dubai, under the leadership of His Highness Sheikh Mohammed bin Rashid Al Maktoum, has become a hub for high-value investments and global talent. He noted that the real estate sector reflects this progress, supported by a balance between sustainability and digital transformation. He described the Hub as a strategic step toward accelerating innovation in one of Dubai's most vital economic sectors. The goal is to provide a nurturing environment for entrepreneurs and startups to turn innovative ideas into viable businesses. The Hub is expected to attract over AED1 billion in investments by 2030 It aims to support more than 200 PropTech companies and attract 20 investment funds Officials reported that Dubai's PropTech market was valued at AED2.2 billion in 2023. The new Hub will adopt cutting-edge digital tools to drive this figure higher, enhancing the sector's contribution to Dubai's economy. The ecosystem will include: State-of-the-art incubators and co-working spaces Smart outdoor areas and infrastructure for AI-powered model testing Sheikh Hamdan also reviewed the progress of major initiatives such as the '5,000 Digital Talents' program, which connects students with global tech companies. Other key updates included: Results from Expand North Star, the world's largest startup-investor event Developments around the IGNITE platform, designed to connect startups with investors, mentors, and government support The meeting was attended by top government and industry leaders, including His Excellency Omar bin Sultan Al Olama and members from Dubai Municipality, DIFC, Dubai Future Foundation, and TECOM Group. With this launch, Dubai reinforces its vision to lead in digital innovation and real estate technology on the global stage.