Dubai has taken a significant leap forward in real estate innovation by signing a strategic agreement between the Dubai Land Department (DLD) and the Virtual Assets Regulatory Authority (VARA). This collaboration supports the pilot phase of the “Real Estate Tokenisation” initiative, under the broader “REES Real Estate Innovation Initiative.” It aligns with the UAE’s goal to position Dubai as a global hub for investment and innovation. The initiative also seeks to help grow the real estate sector’s GDP contribution to AED1 trillion ($272 billion) by 2033.
Signed in the presence of key figures including Marwan bin Ghalita, Director General of DLD, and Helal Al Marri, Director General of the Department of Economy and Tourism, the agreement signifies a bold move towards creating a digitally advanced and inclusive property market.
Pioneering Real Estate Tokenisation Framework
The collaboration is globally pioneering, introducing a governance framework that links real estate registries with tokenised property systems. This integration is designed to improve liquidity, enhance the efficiency of property management, and strengthen investor trust. By upgrading legal and regulatory frameworks, DLD and VARA aim to ensure compliance with the evolving needs of the market, all while safeguarding investor rights.
Through this initiative, Dubai plans to expand investment access to small-scale investors, broadening participation in the real estate sector. The agreement also prioritises legal clarity, supporting the city’s ambitious D33 Economic Agenda to double GDP in the coming decade. With the real estate sector projected to grow by 70% in value, the partnership aims to establish Dubai as the premier global destination for real estate investment.
Enabling Innovation, Compliance, and Investor Protection
The agreement also highlights efforts to enhance digital infrastructure and investor education on virtual asset regulations. As part of the initiative, DLD and VARA will roll out pilot projects to test risk-management models while incorporating virtual assets into property dealings. These efforts are expected to yield substantial economic returns while maintaining consumer protection.
Encouraging collaboration with technology firms, the partnership reflects Dubai’s future-focused vision. As Helal Al Marri stated, the initiative not only secures market integrity but also fosters inclusive economic participation. Marwan bin Ghalita reinforced that the agreement supports AI adoption, data centralisation, and seamless investment processes—crucial for sustainable growth and a technology-driven economy.
