Dubai Land Department launches pilot phase of ‘Real Estate Tokenisation Project'
Dubai Land Department (DLD) launched the pilot phase of the 'Real Estate Tokenisation Project.' This initiative, introduced under the Real Estate Innovation Initiative 'REES,' establishes DLD as the first real estate registration entity in the Middle East to implement tokenisation 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 tokenisation sector, with its market value projected to reach AED 60 billion by 2033, representing 7% of Dubai's total real estate transactions.
As part of this initiative, DLD organised a specialised workshop on 'Real Estate Tokenization,' bringing together leading proptech companies, including top global firms specialising in real estate asset tokenisation.
Eng. Marwan Ahmed Bin Ghalita, Director-General of Dubai Land Department, said, 'Amid rapid technological advancements and the increasing reliance on digital solutions, real estate tokenisation 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, tokenisation simplifies and enhances buying, selling, and investment processes.
This aligns perfectly with Dubai Land Department's vision to achieve global leadership in real estate investment, leverage technology to develop innovative real estate products, and foster an ecosystem that supports real estate innovation.'
He added, 'This pioneering project is part of the recently launched 'REES' Real Estate Innovation Initiative, designed to attract diverse technology firms. 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.
We are pleased to collaborate with partners from both the public and private sectors to advance the real estate industry's digital ecosystem and enhance our operations' efficiency and effectiveness. Following this year's pilot launch, we will thoroughly assess the outcomes and leverage key insights to refine the project ahead of its full-scale implementation.'
The Real Estate Tokenisation Project aims to attract global technology firms and open new investment opportunities for the investor market. It seeks to diversify property ownership by allowing multiple investors to co-own a single property through tokenised real estate assets.
Additionally, the project strengthens Dubai's position as a regional and global hub for virtual assets, enhancing its competitiveness on both local and international levels. It also promotes investment awareness in virtual asset services and products, encourages real estate innovation, and supports the development of cutting-edge solutions in the sector.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Sharjah 24
11 hours ago
- Sharjah 24
SEWA launches 10 lighting projects in Kalba
Key projects underway Engineer Youssef Al Hammadi, Director of SEWA's Kalba Department, confirmed that the authority is executing development and lighting works according to a defined timeline, following the directives of His Highness Sheikh Dr. Sultan bin Mohammed Al Qasimi, Supreme Council Member and Ruler of Sharjah . Among the significant projects in progress is the lighting of main roads in the new industrial zone, where SEWA is installing 100 lighting poles and 200 fixtures, in addition to laying 11,000 metres of electrical cables. The project began in January 2025 and is expected to be completed by July, with an estimated cost of AED 2 million . Work is also ongoing on the second phase of Al Hefaiyah Lake lighting project, aimed at fully covering the tourist area with modern lighting units. This phase is valued at AED 1.5 million . In the second phase of the Jabal Deem lighting project, SEWA is implementing specialised technical solutions due to the area's unique geography, with a budget reaching AED 13 million . Additional work is being carried out in the Ghail area, including the installation of 400 lighting units and 250 poles, alongside 15,000 metres of electrical cables . Upgrades are also taking place on Kalba–Sharjah Road, Lake Street, and within the University District, where 1,400 traditional lights are being replaced with energy-efficient LED fixtures . The authority's lighting efforts in Kalba also include the implementation of an annual maintenance programme for the city's lighting network, as well as a dedicated project to improve lighting in the residential area of Al Qadisiya . Completed projects Several lighting projects have been completed in recent months. One of the most notable is the lighting of Khatmit Al Malaha Road, finished in April 2025, which included the installation of 100 lights, 50 poles, and 7,000 metres of cabling. Another completed project is the lighting of Saad bin Abi Waqqas Street, which saw the installation of 100 lights, 60 poles, and 10,000 metres of electric cable . These initiatives reflect SEWA's continued commitment to sustainable infrastructure development and enhanced public safety across Kalba .
Arabian Post
a day ago
- Arabian Post
Dubai Mall Unveils Ambitious Expansion Amidst Soaring Visitor Numbers
Dubai Mall is set to undergo a significant expansion, with Emaar Properties announcing a substantial investment of AED 1.5 billion to enhance the mall's offerings. The development will introduce 240 new luxury retail stores and food and beverage outlets, further solidifying the mall's position as a premier global shopping destination. In 2023, Dubai Mall achieved a remarkable milestone by welcoming 105 million visitors, marking a 19% increase from the previous year. This surge in footfall underscores the mall's growing appeal and the emirate's broader strategy to boost tourism and retail sectors. The expansion aims to accommodate this increasing demand and enhance the overall visitor experience. Spanning over 1.2 million square meters, Dubai Mall currently houses more than 1,200 retail outlets, including flagship stores like Galeries Lafayette and Bloomingdale's. The mall also offers over 200 international dining options and a range of entertainment attractions, such as the Dubai Aquarium and Underwater Zoo, an Olympic-sized ice rink, a 26-screen cinema, and the Zabeel Sports District. The upcoming expansion will build upon these offerings, introducing new luxury brands and dining experiences to cater to diverse visitor preferences. ADVERTISEMENT Emaar Properties has already commenced on-site preparations for the expansion, although a specific completion date has not been disclosed. The project reflects Dubai's ambitious vision to remain at the forefront of global innovation and culture, aiming to further enhance the city's status as a top international destination. The expansion also aligns with broader trends in the United Arab Emirates' retail sector. Despite global shifts towards online shopping, the UAE has witnessed a 14% increase in retail spending, driven by sectors such as fashion, general retail, and leisure and entertainment. This growth highlights the continued relevance and appeal of brick-and-mortar retail experiences in the region. In addition to the Dubai Mall expansion, other major retail developments are underway in the city. For instance, Majid Al Futtaim has announced a $1.36 billion investment to expand the Mall of the Emirates, another prominent shopping destination in Dubai. These initiatives underscore the city's commitment to enhancing its retail infrastructure and offering unparalleled shopping experiences to residents and tourists alike.
Filipino Times
2 days ago
- Filipino Times
Unisat Ajman rolls out big offers for Philippine Independence Day and long weekend
In celebration of Philippine Independence Day and the much-anticipated long weekend, Unisat Ajman shops are unveiling a major sale packed with unbeatable deals on popular beverages and well-loved brands by the Filipinos. Shops open daily from 9 AM to 1 AM, Unisat has become a trusted shopping destination for the Filipino community in the UAE, thanks to its spacious store, no tax, and free parking, offering both convenience and value in one place. This limited-time promotion brings a taste of home closer to kabayans with exclusive discounts on well-known party favorites and classic Filipino brands. Check out some of the fantastic deals you can take advantage of: Emperador Light Spanish Beverage 1L – AED 17 Fundador Super Special Beverage 1L – AED 20 Ginebra Premium Gin 75 cl – AED 15 GSM Mojito 1L – AED 15 GSM Frasco Hari 1L – AED 15 Primera Light Beverage 1L – AED 15 San Miguel Pale Pilsen Can 50 cl – 4 for AED 10 / AED 60 per case San Miguel Light Can 33 cl – 5 pcs for AED 10 / AED 48 per case San Miguel Light Bottle 33 cl – 5 pcs for AED 10 / AED 48 per case Fundador 1L – AED 35 Jack Daniels McLaren 70 cl – AED 55 Chivas Regal 1L – AED 99 Jim Beam 1L – AED 45 Whether you're planning a celebration with friends or simply want to enjoy your favorites at home, Unisat Ajman has you covered, from classic Filipino favorites to premium international labels. With these limited-time offers, there's no better time to drop by and stock up. The store boasts a wide selection of beverages at unbeatable prices, making it the perfect destination for value and variety you won't want to miss. For more information, call Unisat Emirates: 056 119 9527 / Unisat Lucky: 056 119 9518 / Unisat Al Zahra: 056 119 9517 and follow @unisatajman on social media. Make your celebrations special with unbeatable offers — only at Unisat Ajman!
