Dubai Will Introduce Real Estate Tokenization
Dubai’s real estate and crypto regulators have entered into a new partnership aimed at advancing the use of digital assets within the property sector.
On April 6, the Dubai Land Department (DLD) announced a formal agreement with the Virtual Assets Regulatory Authority (VARA).
The deal will integrate Dubai’s real estate registry with a governance framework for property tokenization.
This initiative is designed to enhance digital infrastructure, boost market liquidity, and improve the efficiency of property management.
It also aligns with Dubai’s broader economic ambitions, including its goal to double the city’s GDP over the next ten years.
The announcement follows the DLD’s recent launch of a pilot project to tokenize real estate assets using blockchain technology
On March 20, the department revealed the first phase of the project, becoming the UAE’s first real estate registration body to tokenize property title deeds.
The DLD expects this effort to stimulate real estate investment and reach a projected market value exceeding $16 billion by 2033.
Scott Thiel, co-founder and CEO of RWA tokenization platform Tokinvest, told Cointelegraph that the rapid progress from pilot to execution reflects the UAE government’s commitment to onchain real estate investment:
“In just three weeks, Dubai has gone from pilot launch to strategic execution and the message is loud and clear: the future of real estate investment is onchain.”
Thiel said the collaboration between the two agencies will result in a more intelligent model that broadens access to Dubai’s real estate market for international investors.
“This isn’t just another MOU. It’s the playbook for Real Estate 2.0,” he told Cointelegraph, adding that global investors should pay attention to the UAE’s lead in property tokenization. This, he said, represents the future of real estate.
Sources:
https://cointelegraph.com/news/dubai-land-department-vara-agreement-real-estate-tokenization
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