(Image Credit: Google)
Dubai continuously envisions to be a city that is leveraging on technology making the Emirate an entirely new type of city destination and building a sustainable future. With its modern architecture, technology-driven projects and smart initiatives targeted in various public and private sectors, Dubai’s move towards becoming a technology hub is evident.
Dubai is already a global player in sectors such as transportation launching fully automated and driverless trains traveling across the city. Indeed, the Red line metro remains the world’s longest driverless single metro line running from Rashidiya to UAE Exchange stations. The Dubai International Airport and Jebel Ali ports are the busiest airport and largest port in the Arabian Gulf respectively, taking well advantage of the Emirate’s strategic location.
Accelerator of Growth
It is without a doubt that there has been a rise in technological advancements in the Emirate at a steady pace. As Dubai seeks to reduce dependency on oil-based revenues, new revenue streams must be developed. As an accelerator of growth, Dubai is known for supporting start-ups and innovators in which technology is at the forefront. Dubai government and leaders are quick and agile to engage in digital projects which sets the Emirate as a technology hub in the Middle East.
World Class Events and flourishing investments
Dubai has emerged as a leader in the technological arena in the Middle East by supporting innovative tech start-ups and hosting top tech events and conferences. Various industry trade shows cater to the tech industry community, one of which is the GITEX Technology Week.
GITEX is the biggest annual tech event hosting consumer computer and technology exhibition attended by global international firms and conference for industry experts and leaders. This year’s GITEX Global 2020 will be held from 6th to 10th of December at the Dubai World Trade Center.
Careem, which is the famous ride-hail app in the country, is enjoying great success as a homegrown start-up. It has raised a total of USD 71 million of funding which fueled its expansion to 26 cities across the Middle East, North Africa and Pakistan.
Souq.com became a popular e-retailer and is another Dubai start-up success story which has seen its acquisition by e-commerce giant Amazon in 2017.
In 2016, Dubai introduced its 3D Printing Strategy which aims to turn Dubai into a 3D Printing Hub by 2030.
Digital Economy and Real Estate
Dubai is looking towards a digital future with tourism, trade and real estate at the fore of the strategy. The country is adopting new technologies, nurturing innovators, and encouraging open data. Various platforms have also played a key role in economic development.
The way in which Dubai is responding to the digital needs and demands of the economy will have profound effects to the real estate market of the city. With an emerging occupancy landscape, a period of falling prices and increasing options, the city has become more attractive for small to mid-offices for start-ups and rent for tenants.
The market continues to be in favour of tenants with more attractive terms such as reduced rental rates, rent-free periods and concession in service charges are all important aspects as the market stabilizes.
Smart city to live in
Dubai has been leading the way in investing in modern infrastructure to improve public services and the quality of life in general. One revolutionary project is the Smart Dubai Initiative launched in 2014 with a vision of making Dubai the happiest and smartest city to live in.
Dubai is heavily investing in technology-based healthcare and setting Dubai up as a leading destination for medical tourism. Through the Smart Dubai initiative, the access and efficiency of data provides people with intelligent transportation, sustainable environment, and smart utilities.
With a wide range of projects fostered in the ecosystem, Dubai has established itself as a global tech leader. Through the country’s overall strategy, it continues to make Dubai an attractive place to live and work and bring talented and skilled workers from all over the world.