Dubai Land Department trials 'Real Estate Tokenisation Project'
The Dubai Land Department (DLD) has launched the pilot phase of its 'Real Estate Tokenisation Project', making it the first real estate registration entity in the Middle East to implement tokenisation on property title deeds.
This initiative, part of the Real Estate Innovation Initiative 'REES', is being implemented in collaboration with the Dubai Virtual Assets Regulatory Authority (VARA) and the Dubai Future Foundation.
DLD expects the market value of real estate tokenisation to reach AED 60 billion by 2033, representing 7 per cent of Dubai's total real estate transactions.
A specialized workshop on real estate tokenisation brought together leading proptech firms to discuss the project's potential.
Marwan Ahmed Bin Ghalita, Director-General of DLD, emphasized the transformative impact of tokenisation, which simplifies real estate transactions through blockchain technology, making the process more efficient and accessible for investors.
The initiative is set to create new investment opportunities and diversify property ownership by allowing multiple investors to co-own a single property through tokenised real estate assets.
It also reinforces Dubai's position as a global hub for virtual assets and enhances the city's competitiveness on the world stage.
The Dubai Land Department launches the pilot phase of the 'Real Estate Tokenisation Project,' making DLD the first real estate registration entity in the Middle East to implement tokenisation on property title deeds. The project, in collaboration with the Dubai Virtual Assets… pic.twitter.com/a1ernmicnK
— Dubai Media Office (@DXBMediaOffice) March 19, 2025
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