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Dubai Student Launches Metaverse Real Estate Summit
The entrepreneur secured funding from the Rochester Institute of Technology Dubai and the Mohammed Bin Rashid Smart Learning Program.
Volston Abreo, an electrical engineering and computing student at Rochester Institute of Technology Dubai, is preparing to launch an innovative real estate summit in the metaverse, known as Real Estate Worldscape 2023.
The summit will support education and knowledge sharing, helping boost Dubai’s property market. The event is based around a hyper-realistic “stage” featuring voice and proximity chat systems. Volston developed his idea with funding from RIT Dubai in collaboration with the Mohammed Bin Rashid Smart Learning Program.
Aimed at bringing together global thought leaders and policymakers, Real Estate Worldscape 2023 will host 20 inspirational speakers and offer workshops, panel discussions, and Q&A sessions. Topics at the conference will include real estate, proptech, entrepreneurship and investments.
Explaining the reasoning behind the summit, 21-year-old Volston said, “The inspiration for our virtual stage, Flege, came during the pandemic when we saw the potential of the metaverse in creating an ecosystem where people connect to physical experiences through the virtual world. I decided to focus on the real estate sector to help launch the ecosystem because it is one of the most established industries here, yet it has been slow in the uptake of innovation. I wanted to change the mindset of people in the business, to show the value of bringing technology into the sector”.
The summit will also feature a simulation that takes delegates back to 2012 when Dubai was still recovering from the global financial crisis. Participants will “enter a digital twin of Dubai where their goal is to achieve cashflow by analyzing market trends and making sound decisions to buy and sell properties at the right time and from the right place,” Volston explained.
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Volston is already part of Dubai’s Silicon Oasis, with his own office and a team of seven employees. The student entrepreneur says his sights are firmly set on building a decentralized digital ecosystem despite not yet having graduated from RIT Dubai.
The Real Estate Worldscape 2023 will take place later this month.
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Dubai Gives Go Ahead For $35 Billion Al Maktoum Airport Expansion
The project will include a new passenger terminal, helping the emirate achieve its goal of operating the world’s largest airport by 2050.
On Sunday, April 28th, Dubai’s HH Sheikh Mohammed bin Rashid Al Maktoum gave the go-ahead to a major expansion project for Al Maktoum Airport (DWC).
The development will add a new passenger terminal to DWC, marking a major step in the emirate’s goal to transform the global transport hub into the world’s largest airport by 2050.
The construction project is valued at a massive $34.8 billion (AED128 billion), and is necessary to accommodate the projected surge in air travel over the coming years.
The DWC expansion plans were reportedly shelved in 2019. However, the project regained traction under the airport operating company Dubai Airports, who manage both Dubai International Airport (DXB) and DWC.
“HH Sheikh Mohammed bin Rashid Al Maktoum reviewed the strategic plan of the #Dubai Aviation Engineering Projects and approved designs for the new passenger terminal at Al Maktoum International Airport, which will be the largest in the world when fully operational,” announced the Dubai government on X, noting that the new terminal will increase annual capacity to over 260 million passengers.
Under the comprehensive development plans, Al Maktoum Airport will surpass the scale of Dubai International Airport by fivefold. Eventually, all of Dubai International’s operations will be moved to the new site.
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Dubai Airport CEO Paul Griffiths has emphasized the need for a new facility as DXB airport approaches its maximum annual capacity of 120 million passengers, explaining that the new development will transform airport operations.
“We are not planning an airport that has terminals. We’re going to completely change the business model for airports, make them far more intimate, and get rid of all the legacy processes that we’ve had to subject our customers to for far too long,” Griffiths stated.
Dubai Gives Go Ahead For $35 Billion Al Maktoum Airport Expansion
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