Dubai is gaining traction in its real estate sector for increasing property prices and rental yields nearing the 7 percent mark. Yet another emerging wave of technological innovations drives a massive chunk of that progress. Blockchain-enhanced property acquisition, sales, and management methods have positioned Dubai as a major center for proptech developments worldwide.
The global proptech market is expected to surpass $89 billion during 2024-2032, growing at a compound annual growth rate of 11.9 percent. These statistics indicate a more extensive adoption of digital transformation within the real estate industry. This is much more relevant in Dubai, where property prices are expected to rise by 5 to 8 percent in 2025, with average rental yields nearing 7 percent.
Unlocking Opportunities With AI and Blockchain
“Anyone who follows real estate will know that proptech is big business,” said the founder and CEO of PRYPCO. “Innovations connected to artificial intelligence (AI) and blockchain are already unlocking lucrative opportunities for local property investors and entrepreneurs.”
The growth of such technologies has led to advanced tools such as fractional ownership platforms, which allow even a small investment of AED 500 to purchase shares in prime rental properties in Dubai. As the CEO further pointed out, this is just the tip of the iceberg. Next on the agenda are innovations such as virtual valuations and augmented reality tours, which have changed the industry.
Public-Private Partnerships Fuel Innovation
The government’s commitment to fostering innovation has played a key role in this rapid progress. The recent collaboration between the Dubai Integrated Economic Zones Authority (DIEZ) and the Dubai Land Department (DLD) is a prime example.
The CEO noted that this partnership “supports the emirate’s ambition to become a leading destination for property innovation” by creating a supportive environment for startups and SMEs in the prop-tech space. The UAE’s prop-tech industry is already on a strong upward trajectory, with an expected compound annual growth rate of 20 percent from 2022 to 2028.
A Platform for Global Proptech Leaders
Dubai strategically adopts new, advancing technology while spurring a global reputation. The Real Estate Sector Strategy 2033, the REES Initiative, and the RDI Grant Initiative lead the headlines to draw international attention and attract top talents.
The CEO emphasized, “Dubai has also established itself as a gathering point for the global proptech community. “
Through its diverse calendar of real estate conferences and trade shows, the city is bringing together experts, investors, and policymakers to collaborate on the future of real estate.
Driving Entrepreneurship Through Policy and Vision
Dubai’s success is based on an entrepreneurial culture under a visionary policy. The Dubai Economic Agenda (D33), with the ambition to double the city’s GDP and increase FDI to $177 billion by 2033, is underpinning the emirate’s future growth.
“With multiple incentives and support initiatives aimed at fostering the development of startups and SMEs, especially within the realms of technology and digital transformation, Dubai-based proptech entrepreneurs are working in a rich and stimulating environment,” the CEO said.
Combining government backing and private sector innovation makes real estate more flexible, accessible, and profitable.
A Vision Built for the Long Term
Dubai’s proptech vision’s impact is already visible, but its long-term benefits are just beginning to unfold.
“Forward-thinking policymaking and investment, coupled with private sector innovation, are enhancing flexibility, accessibility and profitability for property owners, buyers and investors across Dubai,” the CEO added.
“For these reasons, I am certain that our government’s ambitious proptech vision will continue to benefit Dubai’s real estate market for decades – if not generations – to come,” he concluded.
