The Dubai Virtual Assets Regulatory Authority (VARA), in coordination with the Dubai Land Department (DLD), has issued an alert regarding entities who have falsely claimed involvement or participation in the pilot phase of the DLD Real estate tokenization project.

The tokenization project in question is that launched by DLD in March whose partners include the Dubai VARA regulatory authority and the Dubai Future Foundation through its Sandbox Real Estate. The project will tokenize property deeds to enable the fractional ownership of real estate assets, and was introduced under the Real Estate Innovation Initiative.

The alert notes that some entities might have falsely claimed or purported their participation in the pilot phase of the DLD Real Estate Tokenization Project. As per the alert the project involves select participants approved by both DLD and VARA. The alert noted that no entities beyond those explicitly approved by DLD and VARA are authorized to participate in the pilot phase.

As per the alert, ” Any entity promoting their involvement in the Project without formal confirmation from either VARA or DLD is misrepresenting their status. Official communications confirming participation will be issued solely by DLD and/or VARA.”

The alert further states that entities marketing real estate tokenization services linked to assets in Dubai, have to be licensed or authorized by the relevant authorities. VARA notes that engaging with unlicensed platforms or those falsely claiming participation in the Project exposes consumers to significant financial risk. These services are not covered by the consumer protection, market integrity, or risk management measures built into the regulated pilot framework.

Entities engaging in or promoting unauthorized activities, or misrepresenting their regulatory status, are liable for enforcement action, including but not limited to public alerts, financial penalties, and market prohibitions.

Consumers and market participants are advised to exercise caution and verify the licensing status of all firms claiming to offer VA-related services by consulting the official VARA Public Register. Any promotional content referencing participation in the Project that has not been validated through VARA or DLD should be treated with caution.

The UAE governmental entity, the Dubai Land Department (DLD) has partnered with the Dubai Virtual Assets Regulatory Authority (VARA) to link the real estate registry to property tokenization through an advanced governance system. The collaboration aims to enable the fractional ownership of real estate assets, allowing a broader base of investors, particularly small investors, to enter Dubai’s real estate market. This contributes to greater economic inclusion and enhances the sector’s appeal to global investments.

This agreement follows the launch of the pilot phase of the “Real Estate Tokenization Project.” In line with the Dubai Real Estate Sector Strategy 2033, the Dubai Land Department (DLD) has launched the pilot phase of the ‘Real Estate Tokenization Project for property title deeds. As per the announcement, 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 being implemented in collaboration with the Dubai Virtual Assets Regulatory Authority (VARA) and Dubai Future Foundation (DFF) through SandBox Real Estate.

It was signed in the presence of Helal Saeed Almarri, Director-General of the Department of Economy and Tourism, and Marwan bin Ghalita, Director-General of Dubai Land Department, alongside senior officials from both entities.

The project also supports the objectives of the “Dubai Real Estate Strategy 2033” to grow real estate transaction volume to $272 billion equivalent to AED1 trillion, and contributes to the goals of the “Dubai Economic Agenda D33,” which seeks to double the emirate’s GDP over the next decade.

Helal Almarri affirmed that the agreement reflects the spirit of innovation and integration between Dubai’s government and digital sectors, noting that real estate tokenisation 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.

In line with the Dubai Real Estate Sector Strategy 2033, the Dubai Land Department (DLD) has launched the pilot phase of the ‘Real Estate Tokenization Project for property title deeds. As per the announcement, 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 being implemented in collaboration with the Dubai Virtual Assets Regulatory Authority (VARA) and Dubai Future Foundation (DFF) through SandBox Real Estate.

DLD anticipates that this groundbreaking initiative will drive significant growth in the real estate tokenization sector, with its market value projected to reach AED 60 billion equivalent to $16 billion by 2033, representing 7% of Dubai’s total real estate transactions.

His Excellency Eng. Marwan Ahmed Bin Ghalita, Director General of Dubai Land Department, stated, “Amid rapid technological advancements and the increasing reliance on digital solutions, real estate tokenization emerges as a revolutionary tool driving fundamental change in the real estate sector. By converting real estate assets into digital tokens recorded on blockchain technology, tokenization simplifies and enhances buying, selling, and investment processes.”

He added: “It aligns with our strategy to unlock new opportunities for innovative real estate products, enhance property sector innovation, promote transparency and governance, and enable a wider pool of investors to participate in large-scale real estate projects in Dubai.

The announcement comes in the midst of increasing focus on tokenization in the UAE, as well as the announcement between DAMAC Group and MantraChain to tokenize $1 billion worth of assets.


The Dubai Integrated Economic Zones Authority (DIEZ) and the Dubai Land Department (DLD) have partnered to encourage the adoption of modern technologies, such as artificial intelligence (AI) and blockchain, in the real estate sector, and Property technology sector (Proptech), while facilitating the establishment of companies and providing the necessary support to expand their business,

As per the press release, the collaboration aims to enhance research, development, and technological innovation, as well as ease of doing business in Dubai, and to contribute to the growth of emerging startups, small and medium innovative enterprises in the sector.

This partnership aligns with the objectives of the Dubai Research, Development, and Innovation (RDI) Grant Initiative, launched by H.H. Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, Deputy Prime Minister, and Minister of Defence, in September 2024. Through one of the four priority sectors – Cognitive Cities – Dubai RDI will focus on Proptech, smart mobility, traffic management, and smart grids.

The Memorandum of Understanding was signed by Dr. Mohammed Al Zarooni, Executive Chairman of Dubai Integrated Economic Zones Authority, and Marwan Ahmed bin Ghalita, Director-General of Dubai Land Department, at Dubai Silicon Oasis, the special economic zone for knowledge and innovation and a member of DIEZ.

Dr. Mohammed Al Zarooni said, “DIEZ is committed to providing a conducive environment for start-ups, SMEs and innovative projects in various emerging technology sectors. Dubai is a global destination for entrepreneurs and innovators with promising tech-focused ideas. Through our collaboration with active entities to contribute to building a future-ready economy in Dubai, such as the partnership with Dubai Land Department, DIEZ aims to enhance the emirate’s global position in attracting technology entrepreneurs and SMEs and providing everything they need to support doubling the size of Dubai’s economy and making it one of the top three global cities by 2033, in line with the objectives of the Dubai Economic Agenda D33.”

Marwan Ahmed bin Ghalita said, “Through this partnership with the Dubai Integrated Economic Zones Authority, we are committed to providing a conducive environment that encourages the adoption of modern technologies, such as artificial intelligence and blockchain, in the real estate sector, while facilitating the establishment of companies and providing the necessary support to expand their business, aligning with the Real Estate Evolution Space ‘REES’ initiative we previously launched as part of our efforts to achieve the objectives of the Dubai Economic Agenda (D33), positioning the emirate as a key hub for innovation. We aim to enhance Dubai’s position as a leading destination for real estate innovation, in line with the Dubai Real Estate Strategy 2033, particularly by establishing a comprehensive ecosystem based on modern technology and advanced digital solutions.”

this comes as Klickl, the Web3 financial platform out of the UAE, announced that it will enable real estate developer IMKAN offer international investors with secure, fast and flaxible options of alternative payments in high value sector such as real estate through cryptocurrency by converting crypto into AED. Klickl will offer cryptocurrency payment processing system.