Hamdan bin Mohammed launches the digital platform "Dubai RETEC" for the real estate sector in Dubai
His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of the Executive Council, launched the "Dubai Re-Tech" digital platform, with the aim of supporting decision-making in the real estate market, promoting the growth and sustainability of various real estate sectors, and providing a new tool that joins To the various elements of support that serve to confirm the highest levels of transparency and establish investor confidence, while the platform is one of the initiatives in support of the Dubai Urban Plan 2040 aimed at making Dubai the best city to live and work in the world.
His Highness said: "With the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, Dubai continues to support various vital sectors, including the real estate sector, to become the best in the world."
His Highness added: "The real estate sector in Dubai is witnessing strong growth, with an increase in the number of investors by 80% and an increase in the value of annual real estate transactions to reach more than 250 billion dirhams, which confirms the attractiveness of the sector, and the keenness of investors to be part of this growing market in light of The ambitious development plans that are being implemented in Dubai, with all the promising opportunities that the market holds.”
His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum stressed that the Dubai government is progressing steadily in the transformation into the smartest city in the world, while continuing to work to provide all its services, whether to individuals or institutions as well as investors in an easy way, while adopting digital solutions and smart technologies that increase performance efficiency. within various sectors.
The idea of the new platform is based on the use of advanced technologies to develop an integrated real estate model that relies on the use of artificial intelligence to analyze big data in the various real estate sectors in Dubai, including expectations and future scenarios, with the aim of adopting proactive strategies, policies and initiatives to deal with opportunities and changes in the real estate market.
The platform contains an integrated and real estate database that is shared with the various stakeholders in the sector, and includes indicators and future expectations that support the anticipation of changes that may occur in the real estate sector.
The platform is one of the supporting tools for shaping the future of the real estate sector in the emirate, and for bringing the confidence of investors in the real estate market to higher levels by following international best practices.
The real estate sector in Dubai is one of the vital sectors that contribute significantly to strengthening the emirate's economy and attracting foreign investments and international and emerging companies, as more than 38,000 new investors were attracted to the Dubai real estate market this year.
The Dubai Urban Plan 2040, launched by His Highness Sheikh Mohammed bin Rashid Al Maktoum, constitutes an integrated map to achieve sustainable urban development that enhances the emirate’s global competitiveness by supporting vital sectors such as tourism, trade, real estate and logistics services, and providing opportunities to double the levels of development and investment and continue to attract international companies. and emerging.
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