The Framework defines this environment as a structured experimental space that allows participants to test innovative technology models within specific controls and conditions.
Supporting real estate innovation
This measure comes in the context of supporting real estate innovation by providing an opportunity for innovators to test and develop their ideas, contributing to raising the readiness of the market to receive modern technical solutions, and updating legislation in line with the future technical developments of the sector. The Authority also seeks through this environment to collect and analyze data to develop work mechanisms and better serve the market.
To join the environment, the submitted model must be innovative, have clear added value, and bring tangible benefits to beneficiaries, in addition to having reached an advanced stage of operational readiness.
This measure comes in the context of supporting real estate innovation by providing an opportunity for innovators to test and develop their ideas.
The organizational framework includes four main stages that participating models go through:
Application stage: The application is reviewed and requirements are completed within a maximum of 30 working days.
Readiness Assessment Phase: Lasts up to 120 working days, during which the readiness of the model is assessed and the application is decided.
Testing Phase: During which the model is piloted on a specific customer segment for a period of 6 to 24 months.
Exit Phase: Based on the results of periodic reports, a decision is made to formally launch the model into the market, evolve it, reintroduce it to the environment, or stop the trial if it is not appropriate or safe.
<The framework emphasizes that approval to join does not mean that the model is fully compliant with current laws and regulations, and participation in the environment does not exempt the participant from complying with the laws. Any damages resulting from the test remain the responsibility of the participant, without incurring any legal liability on the part of the Authority.
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