Staff Report
Dubai, UAE
Dubai Land Department (DLD), the emirate’s land and property registry, said, it has signed an agreement with Xclusiverse Technology to establish a virtual Real Estate Innovation Incubator to attract international companies in real estate and build capabilities and skills of individuals and local companies in the sector.
Xclusiverse was founded by entrepreneurs Florina Onetiu and Cristian Onetiu in 2021, who brought a new vision to extended reality, offering businesses a more efficient perspective on how they interact with consumers. They wanted each business to offer XR platform users the most complete brand experience through immersive interactions, shopping and security.
The agreement with Dubai Land Department will enable Xclusiverse to disrupt the real estate sector through futuristic Web3 solutions such as Metaverse to the real estate community.
“The aim of this initiative is to attract emerging global companies in real estate innovation, and build the capabilities and skills of individuals and local companies in the sector. This will enhance its digital system and align it with the Dubai Economic Agenda D33. The initiative is also aimed at enabling the testing and commercialisation of new and innovative products and technologies in the emirate,” a statement said.
According to the agreement, the two parties aim to enhance confidence in Dubai’s real estate sector by providing a unique investment environment, ensuring good governance of the real estate system, and incubating controls for real estate innovation. The agreement includes the launch of the “Real Estate Innovation Incubator 2023” initiative through a virtual incubator platform, business accelerator, and real estate technology companies. This partnership will not only increase customer satisfaction but also enhance services to achieve the best results and promote the overall development of the sector.
The cooperation agreement entails collaboration in various fields, primarily the assembly of a team of top-notch experts by Xclusiverse Technology Company to establish the virtual incubator. The virtual incubator will adhere to the best local and global standards and practices, while ensuring information security. The initiative will be launched from the emirate to the world, in line with DLD’s objective of contributing to the Dubai Economic Agenda D33.
Majida Ali Rashid said: “Dubai Land Department values the significance of fostering collaborations between the public and private sectors to support Dubai’s economic agenda and position the city among the world’s top economic hubs. We are dedicated to realising the DLD’s strategy of becoming a world leader in real estate investments and providing proactive services that empower the real estate community to test and market new technologies. Our goal is to make Dubai a prominent center for incubating innovations in the real estate industry.”
She affirmed DLD’s dedication to further improving the real estate sector’s role in the emirate’s comprehensive development by strengthening public-private and government integration partnerships, utilising technology to develop real estate products, and creating a world-class and appealing investment environment. These efforts align with the wise leadership’s objectives to increase economic productivity through innovation and the implementation of digital solutions.
