Digitalization, Economy, and Real Estate of Dubai

PUBLICATIONS / Articles / 2018 / Digitalization, Economy, and Real Estate of Dubai

Dubai is focusing on the digitalization and hence, this definitely has affected other sectors. One of the biggest sectors to be affected is real estate. 

At the moment, Dubai’s preparation for Expo 2020 includes both advanced digitalization and high-level architecture. Combination of both will affect the general real estate market with higher demand for the properties in Dubai. In turn, the digitalization associated with Expo 2020 affects the economy of Dubai. 

Digitalization of Dubai is well seen in the active implementation of block chain to many platforms, which in turn will affect the economy and speed up the real estate development. 

Digitalization of the platforms is well seen in the fast developing free zone authorities. In June 2018, the Dubai Airport Freezone Authority, home to companies including aviation heavyweights Boeing and Airbus, GE Aviation, Panasonic and Rolls-Royce and the economic zone that encompasses Dubai International Airport, launched the world’s first commerce platform for free zonesto allow global companies to connect and trade via Dubai. The business-to-business platform uses artificial intelligence, blockchain technology and virtual business licences, which has an effect on faster business formations with potential office rent. In addition, the office properties digitalizing their services will affect the overall real estate market with faster purchases and rents.

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