With a very positive trajectory of the real estate industry, Dubai has made plans to capitalise this boom and make sure that it will reach global heights. Plans for the year of 2026 have been drawn carefully by His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of the Executive Council of Dubai.
Along with the structuring of the Dubai Land Department, the vision, mission and the values for these plans have been drawn in accordance to the Resolution No. 81. To move forward with the plan, the DLD has presented the outlines of their vision as follows.
- Vision: The World leader in Real Estate Investments
- Mission: Enabling the real estate community by providing seamless real estate services, effective legislation and integrated data through partnerships, leading digital infrastructure and an empowered human capital.
- Values: Proficient Team, People-centric, Justice, Passion, Boldness
Being compatible with the plans and the development trends that elevated Dubai to its present glory, these plans are set to achieve the vision of leading global real estate investments by assisting the high performing industries such as fintech, business, education, innovation and so on.
Concerns in achieving the set goal
Enhancing The Real Estate Model: Even if the real estate sector keeps on booming, selling properties at a record breaking rate. To achieve a global leading position the current model is to be enhanced which was the goal with the recent restructuring of the DLD.
Real Estate Innovation Incubator: In order for further expansion, innovation is inevitable. The development of tech, fintech and other innovative applications to the real estate industry as well as the other leading industries that provide auxiliary support to the property market require innovation. Currently, the government with the DLD is set on a path to enhance tech solutions into the real estate industry. But to achieve the necessary innovative boost it requires, Dubai is making itself more supportive and attractive for leading innovators to conduct their business in.
Data-Driven Sector: Currently, Dubai scores a higher performance by hosting a competitive Data-driven sector and the application of it into multiple industries including real estate. With the world rumbling towards a more exquisite, yet competitive state; the Data-Driven solutions are required to be developed and applied in order to reach the vision set by the leadership of Dubai by the year 2026.
Mergers Of The Public & Private Sectors: Public and Private sectors presently do perform at a competitive rate which helped to achieve Dubai the standards and the position that it has secured in the world now. But to reach newer heights more merger projects are expected to combine the two forces that will boost Dubai’s performance in its journey to reach the peak of real estate investment.
Developing sustainable strategies to prevail and outlast the competition and to harness the market are main objectives when setting out to achieve challenging goals in any industry.
Implementation and Development
The implementation of these plans and schemes set by the DLD aims to achieve quick-gain initiatives. The adaptation of the real estate industry involves sustainable initiatives, innovative tech solutions, and the necessary integration of the real estate market with DLD partners. This collective effort pushes the entire industry to advance, guided by the leadership of the Dubai government.
Source: https://mediaoffice.ae/en/news/2022/December/26-12/Dubai-Land-Department-Strategic-Plan