Viewit recently participated in the Real Estate Evolution Space (REES) Initiative, organized by the Dubai Land Department (DLD) to support Dubai’s Economic Agenda D33 which aims to double the size of Dubai’s economy within a decade and position it among world’s top three cities on the planet.
The event took place at the Stellar Ballroom in the absolutely incredible One Za’abeel tower, truly in a class of it’s own with tasteful, minimalist interiors, ambiance and service (when you’re the Dubai Land Department you don’t skimp on the details). The folks at REES were kind enough to give us a booth in a large hall where we pitched to His Excellency Eng. Marwan bin Ghalita and executives from DLD about the problems Viewit solves and demonstrated how our video-focused property platform is revolutionizing the real estate market. We met several interesting individuals at the event including early to mid stage VCs, real estate agents (including our favourite agency, Sherwoods International) and various PropTech companies.
The State of Innovation in Dubai Real Estate
Dubai’s real estate sector has remained traditional and slow to adopt new technologies. Despite global advancements, many platforms still rely on outdated methods such as XML feeds via desktop CRMs, images and text and an outdated method of discovery, leading to inefficiencies and customer dissatisfaction. Viewit aims to change this by providing video tours, ensuring transparency and enhancing user experience. This is somewhat countered by the DLD who are quite innovative, taking advantage of blockchain technology for real estate transactions, appifying the buyer, seller and sale registration process and setting up a de-facto MLS via their trakheesi system. You can read more about this here.
REES: A Catalyst for Change
The REES Initiative, part of Dubai’s drive to become a major innovation hub, is crucial for propelling the real estate sector into the future. It featured discussions on international real estate technology trends, with participation from 25 specialized companies. The launch of the Dubai PropTech Group in collaboration with Dubai Chambers and several strategic partnerships further emphasized the commitment to innovation.
Strategic Partnerships and Goals
DLD’s partnerships with entities like Dubai Future District Fund Investments, Mantiq Technologies Limited and several other institutional investors from the MENA region aim to develop the real estate innovation ecosystem together. These partnerships support PropTech companies, enhance competitiveness, and provide infrastructure for real estate innovations.
The Future of Real Estate
His Excellency Eng. Marwan bin Ghalita highlighted Dubai’s doubled down on AI-driven transformation and how this is technology that will catapaul the industry foward. The REES Initiative will drive strategic programs and public-private partnerships, creating ideal solutions for current and future challenges which Viewit is very excited to be a part of in the future.
Viewit’s Role in Transforming Real Estate
Viewit is proud to be part of this transformative wave. By offering video listings and an intuitive, TikTok-inspired platform taking advantage of ML and AI to redefine the discovery process, we are simplifying the property buying and selling process. Our goal has always been to save agents time and provide buyers with accurate, engaging property tours.
Join the Revolution
Experience the future of real estate with Viewit. Visit our website or download the app today to explore the latest property listings in Dubai through immersive video tour and help us redefine the real estate market, together!