DLD, VARA collaborate to boost leadership in realty and virtual assets regulation
This pioneering agreement, the first of its kind on a global scale in linking the real estate registry with property tokenisation through a governance system that enhances market liquidity and improves the efficiency of property management companies, was signed in the presence of His Excellency Marwan bin Ghalita, Director General of the Dubai Land Department, and His Excellency Helal Al Marri, Director General of the Dubai Department of Economy and Tourism. The agreement was also signed by Majid Al Marri, Executive Director of the Real Estate Registration Sector at DLD, and Matthew White, CEO of VARA.
Empowering the Real Estate Sector and Virtual Asset Integration
The agreement aims to enhance legal frameworks and regulations to keep pace with future developments, ensuring investor rights and compliance with evolving requirements in Dubai's investment and real estate landscape. Additionally, it focuses on increasing investment opportunities and streamlining access to Dubai's real estate market for small investors, thereby contributing to the growth and sustainability of the sector.
This initiative aligns with Dubai's commitment to fostering an advanced investment environment, ensuring regulatory compliance, and safeguarding investor rights under DLD's jurisdiction in collaboration with VARA.
First-of-its-kind signed agreement at a global level to link the property registry with property tokenisation through a governance system that enhances market liquidity and improves the efficiency of property management companies.
The collaboration follows the launch of the pilot phase of the Real Estate Tokenisation Project by DLD, aimed at strengthening Dubai's position as a regional and global hub for virtual assets.
Collaboration contributes to achieving Dubai's strategic goals for the real estate sector and supports the Dubai Economic Agenda (D33).
Supporting Dubai's Strategic Goals and the D33 Agenda
The collaboration is expected to play a significant role in achieving the objectives of Dubai's real estate strategy 2033 and the broader Dubai Economic Agenda (D33). The agreement aligns with D33's goal of doubling Dubai's GDP over the next decade, with the real estate sector contributing to reaching AED 1 trillion in transactions, growing by 70% in value. As Dubai experiences increasing demand for innovative real estate solutions, this agreement serves as a framework for coordinating efforts between DLD and VARA to strengthen Dubai's position as a premier investment destination. It will also facilitate pilot projects that assess and manage risks while enabling the integration of virtual assets into the real estate sector to maximise economic benefits.
Advancing Digital Infrastructure and Investor Awareness
The agreement also emphasises enhancing digital infrastructure in the real estate sector to meet investor needs. It includes initiatives to increase awareness and understanding of virtual asset regulations while ensuring alignment with global best practices for consumer protection and investment security. Additionally, the collaboration encourages cooperation with technology companies interested in contributing to the development of Dubai's real estate sector through virtual asset integration.
Almarri said: 'This partnership reflects the future-focused innovation that is Dubai's DNA – guided by our leadership, it is engrained in the way regulatory and legislative policy makers enable the next stage of economic growth. Real Estate and Virtual Assets are key pillars of the D33 Economic Agenda D33 and by joining forces DLD and VARA will be creating the blueprint for RE 2.0 in a Decentralised Future Economy. This Collaboration Agreement seeks to champion a future-ready model that can allow for more inclusive economic participation, with legal safeguards to recognise fractionalized ownership rights. Beyond assuring market integrity, we see the provision of regulatory clarity as foundational to unlocking sustainable opportunities for GDP expansion – particularly leveraging virtual assets across the full spectrum of Real-World asset sectors.'
The collaboration underscores Dubai's commitment to fostering a diverse and advanced investment ecosystem that enhances the competitiveness of the real estate sector. It also reinforces the emirate's leadership vision of building a knowledge-driven, technology-based future economy.
'This agreement marks a strategic step towards leveraging technological advancements to empower the real estate sector. By strengthening collaboration with technology companies, we aim to position Dubai as a global leader in real estate innovation. Our partnership with the Dubai Virtual Assets Regulatory Authority aligns with the objectives of the Dubai Real Estate Strategy 2033 and the Dubai Economic Agenda D33, which reinforce Dubai's global leadership in one of the most vital sectors. It also supports the priorities of this strategy, particularly in adopting the latest artificial intelligence technologies, enhancing data centralisation, and providing a seamless investment experience that meets the aspirations of investors and companies while contributing to sustainable economic growth,' added Eng. Ghalita.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
The National
6 hours ago
- The National
Masdar City companies to be allowed Dubai property ownership
Abu Dhabi's Masdar City and the Dubai Land Department have teamed up to allow the former's free zone companies to own properties in Dubai, in a bid to boost real estate investment across the UAE. The two entities will work on developing a comprehensive regulatory framework for the programme, which will help Masdar companies own plots and properties under the freehold system, the DLD said on Thursday. Freehold properties are those in which an individual owns both the property and the land it is built upon. The framework will define the eligibility criteria, and legal and administrative procedures that will 'ensure direct co-ordination between the DLD and the free zone authority', the DLD said. 'By simplifying property registration processes for companies operating within Masdar City's free zones, we are enabling them to expand their operations seamlessly while contributing to the UAE's long-term growth, said Ahmed Baghoum, chief executive of Masdar City. Dubai's property market has been booming in recent years, having benefitted from government initiatives such as residency permits for retired and remote workers, expansion of the 10-year golden visa programme and overall growth in the UAE's economy on diversification efforts. This month, a new scheme was also launched to help Emiratis and UAE residents who do not own any freehold residential property in the emirate get on the property ladder. Under the initiative, first-time buyers will have priority access to new homes from participating developers as well as existing inventory, discounts or limited-time offers on the sales price of off-plan units, flexible payment plans and 'improved' mortgage options with better interest rates, faster approval times and reduced fees. The DLD expects 5,000 new investors to enter the market this year following the initiative. On Sunday, the Dubai Media Office said that the volume and value of real estate transactions in Dubai rose sharply in the first half of the year, amid the entry of more than 59,000 new investors into the market, according to DLD data. On Wednesday, property consultancy Knight Frank showed that more than 51,000 homes were sold in Dubai in the second quarter of 2025, which was a year-on-year increase of 22.8 per cent, marking a quarterly record amid strong demand from buyers. Total home sales surpassed 94,000, putting the market firmly 'on track to exceed' 169,000 transactions recorded in 2024, it added. 'We continue to expand access to Dubai's freehold market through collaborative models that enhance the integration of the real estate ecosystem across the UAE,' said Majid Al Marri, chief executive of the DLD's Real Estate Registration Sector in Dubai. 'Enabling companies registered in free zones to own property in the emirate aligns with our vision of building a more open investment environment that offers diverse ownership options.'
Arabian Business
7 hours ago
- Arabian Business
Dubai real estate: DLD, Masdar City announce new partnership to enable free zone property ownership
Dubai Land Department has signed a memorandum of cooperation with Masdar City to allow companies and establishments operating in free zones under Masdar City to own land plots and properties under the freehold ownership system in Dubai. The agreement establishes a regulatory framework for this ownership structure. The partnership forms part of Dubai Land Department's strategy to enhance the competitiveness of the emirate's real estate market and expand the investor base by creating opportunities for free zone companies. The initiative aligns with the objectives of the Dubai Real Estate Strategy 2033. The Dubai Land Department and Emirates NBD sign a memorandum of cooperation to streamline real estate transaction processes and introduce innovative financial solutions that enhance the investor experience. The partnership supports the goal of the Dubai Economic Agenda D33 to… — Dubai Media Office (@DXBMediaOffice) July 22, 2025 Expanding freehold ownership in Dubai Majid Al Marri, CEO of the Real Estate Registration Sector at Dubai Land Department, and Ahmed Baghoum, Chief Executive Officer of Masdar City, signed the memorandum during a ceremony held in the emirate. Directors from both organisations attended the signing. Al Marri said: 'We continue to expand access to Dubai's freehold market through collaborative models that enhance the integration of the real estate ecosystem across the UAE. Enabling companies registered in free zones to own property in the emirate aligns with our vision of building a more open investment environment that offers diverse ownership options.' Al Marri described the partnership as a step that adds value to the objectives of the emirate's Economic Agenda D33 by diversifying the investor base and stimulating investment flows that contribute to market growth and sustainability. The initiative supports the leadership's vision of making Dubai the best city in the world to live and work, he added. Baghoum said: 'This initiative highlights Masdar City's commitment to supporting businesses with innovative solutions that address their needs. By simplifying property registration processes for companies operating within Masdar City's Free Zones, we are enabling them to expand their operations seamlessly while contributing to the UAE's long-term growth.' Baghoum said the partnership highlights the shared vision with the Dubai Land Department to create a business-friendly environment and reinforces Masdar City's position as a hub for innovation and investment. Under the memorandum, both parties will collaborate on developing a framework that includes eligibility criteria for establishments, along with the legal and administrative procedures required to complete the registration process. The cooperation will ensure coordination between the Dubai Land Department and the Free Zone Authority to simplify and expedite procedures. The partnership will enable data exchange and implement a digital system for online applications, request tracking, and document verification to enhance accuracy and transparency. The collaboration will provide guidance and support to companies to help them understand the legal and procedural requirements and foster an environment that encourages ownership and investment. The partnership aims to support companies' expansion plans by providing solutions that facilitate their entry into the emirate's real estate market. The collaboration reflects Dubai Land Department's commitment to adopting policies that enhance market flexibility, support efforts to attract investments, and contribute to building a business environment across the UAE.
Gulf Business
15 hours ago
- Gulf Business
Dubai: DLD, Emirates NBD partner to streamline property registrations, deals
Image: Dubai Media Office The Dubai Land department (DLD) has signed a memorandum of cooperation with Emirates NBD to enhance regulatory processes and streamline real estate transactions. The agreement sets out a joint framework for conducting technical and regulatory studies, focusing on the development of streamlined mechanisms for property transaction registration and delivering financial solutions to improve the overall customer experience. As part of the partnership, two key studies will be launched. The first will explore ways to optimise the registration process for real estate transactions concluded outside the UAE, while the second will examine how financial services can be better integrated to simplify the registration of property sales. DLD aims to advance real estate registration services Omar Hamad BuShehab, DG of The collaboration is aligned with the Dubai Real Estate Strategy 2033, which aims to build a competitive and innovation-driven property sector. Hesham Abdulla Al Qassim, vice chairman and MD of Emirates NBD, said the bank's involvement reflects a commitment to enhancing customer-centric services in real estate. 'Integrated offerings under this collaboration will help enhance the property transaction experience while building greater confidence among market participants,' he said. The partnership is seen as a
