Dubai is taking a bold step toward modernizing its real estate sector through blockchain technology, as two key regulators sign a strategic cooperation agreement to explore property tokenization.
The Dubai Land Department (DLD) and the Dubai Virtual Assets Regulatory Authority (VARA) announced the partnership on April 6, aiming to connect real estate registration with tokenized assets. The initiative is part of a broader pilot program focused on integrating tokenization into the emirate’s property registry system, emphasizing enhancing transparency, liquidity, and operational efficiency for property management firms.
According to the DLD, the new framework will lay the foundation for a governance model that supports fractional property ownership, making real estate investments more accessible to retail investors. Officials also expect the move to contribute to the sector’s growth by streamlining real estate processes and leveraging blockchain to reduce entry barriers.
Helal Saeed Al Marri, Director-General of the Dubai Department of Economy and Tourism, hailed the agreement as a milestone aligning with Dubai’s digital transformation vision. He said the collaboration fits within the broader goals of the Dubai Real Estate Strategy 2033 and the Dubai Economic Agenda D33—two key policies to reinforce the city’s global leadership in real estate and innovation.
This development came just weeks after VARA had disclosed it. It intends to tighten oversight on token issuance. As reported in mid-February, the regulator plans to mandate licensed crypto issuers and service providers to reveal the identities of major token holders—particularly in cases where a single entity or institution holds a significant share.
VARA CEO Matthew White said the move is designed to boost investor confidence by shedding light on token ownership structures, especially in projects dominated by venture capital firms or founders. Additionally, Dubai has taken a bold step toward integrating blockchain technology into its real estate sector, launching a pilot phase for converting property assets into digital tokens.
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