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.
