Dubai government represented by the Dubai Land Department has commenced its foray into fractional ownership using tokenization of the real estate registry in collaboration with Dubai Virtual Asset Regulatory Authority (VARA) who will be setting advanced governance systems.
The agreements will enable a broader base of investors to enter Dubai’s real estate asset market. This aligns with Dubai Real Estate Strategy 2033 that seeks to grow real estate transaction volume to $272 billion.
Dubai Land Department recently launched its real estate tokenization pilot
The agreement comes weeks after Dubai Land Department launched its real estate tokenization project. The Dubai Land Department (DLD) has launched the pilot phase of the ‘Real Estate Tokenization Project for property title deeds.
The initiative introduced under the Real Estate Innovation Initiative ‘REES,’ establishes DLD as the first real estate registration entity in the Middle East to implement tokenization on property title deeds.
The project is also being implemented in collaboration with the Dubai Virtual Assets Regulatory Authority (VARA) and Dubai Future Foundation (DFF) through SandBox Real Estate.
Helal Almarri affirmed that the agreement reflects the spirit of innovation and integration between Dubai’s government and digital sectors, noting that real estate tokenization represents a qualitative leap toward a more inclusive and transparent investment model.
For his part, Marwan bin Ghalita highlighted the importance of this step in driving real estate innovation, attracting technology companies, and enhancing the sector’s digital infrastructure.
Cryptopolitan Academy: Tired of market swings? Learn how DeFi can help you build steady passive income. Register Now
