Shadi Al Azzeh, Managing Director, Majid Al Futtaim Communities, said: “We at Majid Al Futtaim Communities aim to support the real estate startup community in their ambitions to pave the way for future innovation while enhancing the industry. Advancements in tech will impact mixed-use communities and reduce inefficiencies in neighbourhoods. We expect 2022 to eclipse this, with advancements in the metaverse, sustainable mindsets, the dominance of Gen Z, and new communities dominating the real estate technology landscape. The possibilities for real estate here are limitless, and the true opportunity lies in bridging the built world with the metaverse’s enhanced digital world. At Majid Al Futtaim, innovation and digital transformation are critical strategic pillars. We are excited to partner with the selected pilot projects and work alongside them through exploring the metaverse or connecting our communities through digital touchpoints. "

startAD Managing Director Ramesh Jagannathan commented: “10 startups were accepted into the programme, and in just 4 weeks, 6 commercial pilot projects have been awarded by Aldar Properties and Majid Al Futtaim Communities. This demonstrates the commitment and pace of digital transformation in Abu Dhabi and the UAE’s real estate industry. 60% of these cutting-edge technologies in Web 3.0, NFTs and the Metaverse entering the Scale Up programme are getting tangible opportunities to redefine the way people experience real estate, and are enhancing the role UAE will play in the future of the global economy.” 

Aldar Scale Up Programme, which was launched in February 2021, is one of many programmes Aldar has in place to support the UAE’s National Innovation Strategy. The company has developed a framework to drive forward innovative practices, with a focus on three strategic areas: corporate innovation, incubation programmes for startups in complementary sectors, and investment in new tech-enabled businesses. As part of this strategy, Aldar continues to establish and support a number of incubators and programmes to promote innovation and foster emerging tech concepts and young talent across the region. 

One of Aldar’s main innovation programmes alongside Scale Up is Manassah, a platform for homegrown UAE businesses which has incubated more than 40 startups and SME projects over the last two years. The portfolio includes tech startups, SMEs, and youth startup concepts from the UAE.