The Dubai Land Department (DLD) has introduced the pilot phase of its Real Estate Tokenisation Project. This initiative makes DLD the first real estate registration authority in the Middle East to implement tokenisation for property title deeds. It aligns with the Dubai Real Estate Sector Strategy 2033 and aims to enhance Dubai’s role in property technology.
Boosting Accessibility and Transparency in Real Estate
Developed under the Real Estate Innovation Initiative (REES), the project is a collaboration between DLD, the Dubai Virtual Assets Regulatory Authority (VARA), and the Dubai Future Foundation (DFF). It simplifies property transactions by converting real estate assets into digital tokens. This process enhances investment accessibility while promoting transparency in the sector.
Eng. Marwan Ahmed Bin Ghalita, Director General of DLD, emphasised the impact of this innovation. He stated, “Real estate tokenisation is reshaping the industry by making investments easier and more efficient. It supports Dubai’s goal of becoming a global leader in property technology.”
DLD predicts that by 2033, tokenised real estate transactions will reach AED 60 billion, accounting for 7% of Dubai’s total property market.
Expanding Investment Opportunities
This initiative is expected to attract technology firms and create new investment opportunities. Through fractional ownership, investors can co-own properties using tokenised assets. This approach lowers entry barriers and makes real estate more accessible.
Additionally, the project aligns with the Dubai Economic Agenda D33, which prioritises digital innovation. Following the pilot phase, Dubai Land Department will assess the project’s performance before expanding its implementation. Ultimately, this initiative aims to increase investor participation, strengthen governance, and reinforce Dubai’s position as a hub for virtual asset investments.
