Dubai International Financial Centre (DIFC), one of the developing global financial hubs in the Middle East, Africa and South Asia (MEASA), has launched new technology to allow third parties access to its real estate data. The API is another step taken by DIFC in its attempt to further establish Dubai as a globally recognized center of technology and innovation, particularly in the PropTech arena.
This forms part of the larger strategy to support Dubai Real Estate Sector Strategy 2033 to foster more transactions, attract more foreign investments and strengthen Dubai’s position as a preeminent investment haven. The new solution also complements the digitization efforts of the Dubai Digital Strategy that aims to digitize all city operations.
PC: Dubai Media Office
Keyper, Dubai’s first-ever PropTech company, is the first subscriber to these services and will launch a digital platform that will confer in-depth data insights into the DIFC real estate landscape. The platform will allow investors, property owners, tenants, and the general public an interface to real-time data about assessed property values, rental yields and transaction history based in DIFC. This new level of transparency carries with it the combined advantage of giving investors already operating in the DIFC two lifelines: an opportunity for grounded appraisal of opportunities available in the real estate sector.
A partnership with Keyper is seen as a very strategic move towards bringing modernization in property portfolio management and fulfilling the needs of a data-hungry global investment community. The platform will provide accurate and up-to-date market-level metrics that allow the user interface to see the market indicators and transactions in real-time. DIFC Authority Chief Operating Officer Alya Alzarouni noted that the API will help companies in the emerging PropTech sector gain access to DIFC’s comprehensive real estate data. Investors, property owners, and tenants will benefit in their decision-making, thereby enhancing Dubai’s standing as the choice property investment destination.
Omar Abu Innab, co-founder and CEO of Keyper, expressed excitement about the collaboration, calling it a pivotal breakthrough for PropTech in Dubai. The collaboration will create more transparency across the industry and allow investors to make informed choices in line with Dubai’s vision to be a tech-savvy metropolis and gain global standing.
Keyper’s platform is loaded with multiple features. It provides real-time transactional data, building an overall understanding of recent market activities to support good investment choices. The platform also provides transparent property valuations, allowing users to compare and analyze property values across DIFC. In addition, rental yield analysis will assist rental income seekers in the property market. Owners who work with Keyper will have the advantage of live property valuations and transaction insights, maximizing the transparency and ease of use for property ownership. Keyper also endeavors to design predictive models and sophisticated FM tools that shall add further insights for the users into the real estate data on DIFC.
This tie-up between DIFC and Keyper is set to bring greater access and transparency to real estate data in DIFC, setting the stage for a more informed and responsive investing community. With this, DIFC and Keyper are building a pathway that will allow for a tech-enabled property market catering to the needs of global stakeholders. Dubai’s real estate market continues to show progress, as evidenced by its improved ranking in the 2024 JLL Global Real Estate Transparency Index, where it maintained its position as the only property market in the Middle East and North Africa (MENA) region classified as “Transparent.” This reflects the positive impact of government initiatives to enhance market transparency and create a more robust real estate environment.
