Dubai Agencies Collaborate to Link Real Estate Registry with Property Tokenization

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Hassan Shittu

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Hassan Shittu

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Hassan, a Cryptonews.com journalist with 6+ years of experience in Web3 journalism, brings deep knowledge across Crypto, Web3 Gaming, NFTs, and Play-to-Earn sectors. His work has appeared in...

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April 8, 2025 16:50 EDT

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Dubai has taken a major step in integrating blockchain technology into its real estate sector with the Dubai Land Department (DLD) and the Dubai Virtual Assets Regulatory Authority (VARA) announcing an agreement on April 6 to link the city’s real estate registry with property tokenization.

This move seeks to boost liquidity, expand access to investment opportunities, and enhance regulatory clarity for virtual assets in property transactions.

Dubai Taps Blockchain to Unlock AED 1 Trillion in Real Estate Transactions

The agreement, signed during the pilot phase of the “Real Estate Tokenisation” initiative under the broader REES Real Estate Innovation Initiative, is the first of its kind globally.

It introduces a governance model that connects property ownership records with digital tokens, encouraging more efficient property management and streamlining access for smaller investors.

The signing took place in the presence of His Excellency Marwan bin Ghalita, Director General of the Dubai Land Department, and His Excellency Helal Al Marri, Director General of the Dubai Department of Economy and Tourism.

The agreement was formalized by Majid Al Marri, Executive Director of Real Estate Registration at DLD, and Matthew White, CEO of VARA.

The initiative looks to make the real estate sector more accessible, particularly for smaller investors, by enabling tokenized ownership of real estate assets.

“This agreement marks a strategic step towards leveraging technological advancements to empower the real estate sector,” said Marwan bin Ghalita.

“Our partnership with the Dubai Virtual Assets Regulatory Authority aligns with the objectives of the Dubai Real Estate Strategy 2033 and the Dubai Economic Agenda D33.”

The collaboration is also expected to play a key role in achieving D33’s ambition to double Dubai’s GDP within a decade.

The real estate sector is central to this target, with plans to reach AED 1 trillion in transaction volume and grow by 70% in value.

Integrating virtual assets into real estate operations is seen as a move that could unlock new growth opportunities and improve regulatory clarity for fractionalized ownership models.

“This partnership reflects the future-focused innovation that is Dubai’s DNA,” said Helal Al Marri. “Real estate and virtual assets are key pillars of the D33 Economic Agenda, and by joining forces, DLD and VARA are creating the blueprint for real estate in a decentralized future economy.”

Dubai Kicks Off Real Estate Tokenization Project with DLD, VARA, and Future Foundation

On March 20, 2025, Dubai officially kicked off the pilot phase of its Real Estate Tokenization Project, marking a major milestone in its push to digitize property ownership.

The project is led by theDLD in partnership with VARA and the Dubai Future Foundation.

The project is part of the broader ‘REES’ strategy and follows the DFSA’s launch of a tokenization sandbox within DIFC.

The New agreement includes provisions for pilot projects to test and manage risk, enhance digital infrastructure, and raise investor awareness about virtual asset regulation.

Both entities plan to work closely with technology providers to advance virtual asset integration, focusing on data centralization, artificial intelligence adoption, and improving the overall investment experience.

As Dubai continues to attract global interest in real estate and blockchain innovation, this agreement sets the stage for a deeper integration of tokenized assets into the city’s economic framework.