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MENAFN- Dubai PR Network)
- Dubai Real Estate Institute signs 8 MoUs with Local authorities and academic institutions
Dubai, United Arab Emirates, 29 April 2019: Dubai Land Department (DLD), through the Dubai Real Estate Institute (DREI), hosted the ‘SMARTInvest Real Estate' conference organised through a strategic partnership with The Grid Media Ltd. The conference witnessed several activities that focused on the impact of digitisation and new technologies in managing the urban environment. During the conference held at DLD's headquarters under the title ‘Digitalisation in the Built Environment,' a group of leading industry experts discussed topics centred around technology as an increasingly revolutionising force in the built space value chain and how stakeholders in the sector are embracing and interacting with the digital age. HE Sultan Butti bin Mejren, Director General of DLD, said: 'We look forward to stimulating interaction between the real estate, investment, and technology sectors, and encouraging all parties involved in this sector, including government institutions and developers, to adopt new thinking and best practices to further develop our real estate sector and strengthen its global position and competitiveness. The outcomes of this conference will help us explore available opportunities for development with our partners in different sectors to provide unique services to our customers and underpin our presence in keeping up with the latest digital developments, strengthening our efforts in keeping up with the latest digital developments in line with the Smart Dubai Strategy and the Dubai 10X initiative to propel Dubai into the future, putting it 10 years ahead of other global cities through government innovation. The conference witnessed a number of speakers, including Hend Obaid Al Marri, CEO of DREI; Majid Saqer Al Marri, CEO of the Real Estate Registration and Services Sector at DLD; Mohammed Alsharaf, COO of Eltizam Asset Management Group; Geoff Smith, Partner, Head of Real Estate, Middle East, CMS; Siddiq Farid, Founder & CEO of Smart Crowd; Uros Trojanovic, General Manager Strategy and Planning of Eltizam Asset Management Group; Robert Flaws, Head of Tech, Media and Telco CMS; and Nesar Khan, Managing Director Middle East, Lightspeed Tech. Hend Obaid Al Marri commented: 'The UAE is one of the most advanced digital economies in the world, ranking globally among the top 20 and the first in the Arab region. Real estate has long been a key economic driver for the UAE and will continue to be for 2019, making up 6.4% of the country's non-oil gross domestic product (GDP), whose overall value reached AED 81.2 billion. Referring to international monetary fund (IMF) data, the UAE's GDP growth in 2018 and 2019 is positive, and Dubai's GDP growth will climb to 4.1% this year. Due to investment stimulus packages and government spending of $2.5 billion on infrastructure projects this year, the economic activity will be boosted nationwide. 'The conference was an opportunity to explore cooperation with a number of partners who are able to provide DREI with educational services and academic consultancy to provide participants with specialised knowledge required by our real estate market, especially regarding modern technologies. The conference's sessions were rich with ideas that would support our mission of providing specialised real estate knowledge and continuous development of our courses for the benefit of the trainees, enhancing their abilities to face challenges and manage their business efficiently to complement the requirements of the current age in support of DREI's aspirations, and to achieve DLD's vision of positioning Dubai as the world's premier real estate destination and a byword for innovation, trust, and happiness. During his speech, Majid Saqer Al Marri said: 'The real estate registration and services sector is considered the core sector for DLD's services, comprising registration, valuation, customer services, and survey departments. DLD proudly achieved seventh place globally in the Ease of Doing Business report for real estate registration, and we intend on reaching first place. We also have eight smart applications, with Dubai Real Estate Self Transaction (REST) as the top application, which will replace paper title deeds and enable self-transactions without the need to go to DLD in support of the 10X initiative. In addition, we currently have 10 service centres all over Dubai and 17 registration trustee centres. Majid Al Marri added: 'DLD recently launched the Smart Audit initiative, which reduced the registration transaction time from 1.5 days to same-day transactions. We are already participating in the Dubai Learns initiative, and the team is expected to finish its first phase throughout December 2019. This will speed up processing times from three days down to less than one minute, offering substantial improvements and savings to customers and DLD. On 1 April, we launched the E-Mortgage with all banks in the UAE, allowing banks to finalise mortgage transactions with one step, enhancing customer experience by reducing the needed number of steps. DLD, through DREI, signed eight memorandums of understanding (MoUs) with local government authorities and academic institutions in conjunction with the conference. The first MoU was signed by HE Dr Jamal Mohammed Al Muhairi, Secretary General of Hamdan bin Rashid Al Maktoum Foundation for Distinguished Academic Performance, and HE Juma bin Humeidan, Deputy Director General of DLD. The MoU came in line with the vision of the wise leadership and the UAE's strategic directives to strengthen the bonds of cooperation and coordination between them, and in both parties' belief of the importance of consolidating partnerships to mutually benefit from expertise across all fields and achieve strategic objectives as a result. Under the MoU, both parties shall cooperate through all possible means to support and develop cooperation in all fields and strengthen partnership also enhance the scientific and cultural exchange between the two parties, developing scientific, cultural, and innovative achievements. DREI signed the second MoU with the Sharjah Real Estate Registration Directorate (SRERD) to strengthen the bonds of cooperation as well as the scientific and cultural exchange between the parties to develop scientific and cultural achievements. Under the MoU, the parties will exchange scientific and practical experiences according to the specialisations and possibilities available to each. In addition, members from both parties will be invited to participate in programmes organised by either party to exchange scientific material available to them in areas of common interest. DREI signed the third MoU with Innovation Box LLC to establish cooperation in the fields of promotion, joint marketing, consultancy services, experiences and knowledge exchange, and the provision of educational courses and technical support. DREI also signed an MoU with Heriot-Watt University Dubai to benefit from university and graduate study opportunities, vocational training and development, and professional academic programmes provided by the university in line with the Dubai Government strategy to develop means for cooperation with universities and leading educational institutions in the country to provide university degrees and opportunities for graduate studies that develop the skills, competencies, and performances of the government's employees. DREI signed another MoU with International Talents Institute (ITI) Training and Consultancy to cooperate in promoting DREI's training courses and advisory services for mutual benefit. ITI will benefit from DREI's training and academic courses, certifications, and instructors, and DREI will benefit from the promotion and implementation of its training courses and academy through its new partner. DREI signed an MoU with Rochester Institute of Technology (RIT) Dubai to benefit from university and graduate study opportunities, vocational training and development, and professional academic programmes provided by the university. The MoU aims to provide education, executive development programmes, practical training for students, consulting, research, worksheets, seminars, joint conferences, and the exchange of experiences and teachers. DREI also signed an MoU with Potential.com in Knowledge Park Dubai to establish long-term cooperation to benefit from academic training programmes and initiatives, the Internet platform, marketing, and other services provided by the Institute, and to explore other areas of cooperation for the benefit of both parties. DREI signed the eighth MoU with Emirates Canadian University College in Umm Al Quawain to benefit from university and graduate study opportunities, vocational training and development, and professional academic programmes provided by the university. The MoU aims to provide cooperation in academic education, executive development programmes, practical training for students, consulting, research, worksheets, seminars, joint conferences, and the exchange of experiences and teachers. ‘SMARTInvest Real Estate: Digitalisation in the Built Environment' is an ideal platform for the real estate sector to hear from leading market experts and exchange ideas to help decision-makers make choices based on information and insights by acquiring the necessary knowledge. Eltizam Asset Management was the Principal Partner of the conference, offering comprehensive services and exploring the influence of the Internet of Things (IoT), artificial intelligence (AI), and blockchain technologies in supporting businesses. International law firm CMS was the Supporting Partner of the conference, which witnessed the participation of a number of developers, building owners, property portfolio managers, family officers, investment companies, owner associations, architects, financiers, technologists, and advisors in this field.
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