Latest news with #RealEstateTokenisation
Gulf Insider
3 days ago
- Business
- Gulf Insider
Dubai Takes Major Tokenised Real Estate Project
The Dubai real estate sector leading the world again as tokenised property sells out and new ownership certificate launched. Dubai Land Department has launched the world's first Property Token Ownership Certificate, following the successful sale of the first tokenised real estate project on the 'Prypco Mint' platform — licensed by VARA — within just one day of launch. This milestone further reinforces Dubai's position as a global leader in real estate innovation and digital transformation. The first project launched under the Real Estate Tokenisation Initiative attracted 224 investors, 70 per cent of whom entered Dubai's real estate market for the first time. This highlights strong investor confidence and the accessibility provided by flexible, low-cost digital solutions. Investors represented 44 nationalities, and the average individual investment amounted to AED10,714 ($2,917). As the region's first platform of its kind, the initiative continues to draw significant interest, with the waitlist exceeding 6,000 requests. This surge in demand reflects Dubai's growing appeal to new segments of global investors seeking innovative and accessible property ownership models. Dubai Land Department developed the Real Estate Tokenisation project in collaboration with the Virtual Assets Regulatory Authority (VARA) and the Central Bank of the United Arab Emirates and the Dubai Future Foundation (DFF) through the Real Estate Sandbox. It is being executed through Prypco Mint. The initiative aims to broaden the real estate investor base while enhancing transparency and accelerating transaction processes, aligning with the Dubai Real Estate Strategy 2033 goals and the Dubai Economic Agenda D33. Dubai Land Department is currently working to enable real estate developers to list their projects on the platform, further expanding the initiative's scope and unlocking new opportunities for digital property investment. Also read: Dubai Metro Blue Line Set To Ease Traffic Congestion In The City
Tahawul Tech
07-04-2025
- Business
- Tahawul Tech
DLD, VARA collaborate to boost leadership in realty and virtual assets regulation
Dubai — Following the launch of the pilot phase of the 'Real Estate Tokenisation,' one of the initiatives under the umbrella of the 'REES Real Estate Innovation Initiative,' Dubai Land Department (DLD) and the Dubai Virtual Assets Regulatory Authority (VARA) signed a collaboration agreement aimed at enhancing Dubai's global position as a leading hub for investment and innovation in the real estate sector. This agreement seeks to improve the regulatory environment related to virtual assets in real estate transactions In line with the strategic directives of the UAE and the vision of its wise leadership to position Dubai as a global hub for innovation and investment. 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.
Zawya
07-04-2025
- Business
- Zawya
Dubai Land Department and Dubai Virtual Assets Regulatory Authority collaborate
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). Dubai, United Arab Emirates – Following the launch of the pilot phase of the 'Real Estate Tokenisation,' one of the initiatives under the umbrella of the 'REES Real Estate Innovation Initiative,' Dubai Land Department (DLD) and the Dubai Virtual Assets Regulatory Authority (VARA) signed a collaboration agreement aimed at enhancing Dubai's global position as a leading hub for investment and innovation in the real estate sector. This agreement seeks to improve the regulatory environment related to virtual assets in real estate transactions In line with the strategic directives of the UAE and the vision of its wise leadership to position Dubai as a global hub for innovation and investment. 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. 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. Leadership Insights HE Helal Almarri, DG of DET and DWTCA commented: '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.' His Excellency Eng. Marwan bin Ghalita, Director General of the Dubai Land Department, stated: '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.' He added: '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.' Commitment to a Future-Ready Investment Environment 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.
Emirates 24/7
07-04-2025
- Business
- Emirates 24/7
Dubai Land Department and Dubai Virtual Assets Regulatory Authority sign a collaboration agreement
Dubai Land Department and Dubai Virtual Assets Regulatory Authority Collaborate to Enhance Leadership in the Real Estate Sector and Virtual Assets Regulation • 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). Following the launch of the pilot phase of the 'Real Estate Tokenisation,' one of the initiatives under the umbrella of the 'REES Real Estate Innovation Initiative,' Dubai Land Department (DLD) and the Dubai Virtual Assets Regulatory Authority (VARA) signed a collaboration agreement aimed at enhancing Dubai's global position as a leading hub for investment and innovation in the real estate sector. This agreement seeks to improve the regulatory environment related to virtual assets in real estate transactions In line with the strategic directives of the UAE and the vision of its wise leadership to position Dubai as a global hub for innovation and investment. 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. 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. Leadership Insights HE Helal Almarri, DG of DET and DWTCA commented: '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.' His Excellency Eng. Marwan bin Ghalita, Director General of the Dubai Land Department, stated: '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.' He added: '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.' Commitment to a Future-Ready Investment Environment 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. Follow Emirates 24|7 on Google News.
Arabian Business
06-04-2025
- Business
- Arabian Business
Dubai boosts tokenisation of real estate investments with landmark partnership
Dubai has taken strides towards the tokenisation of real estate investments as it looks to boost the sector GDP contribution to AED1tn ($272bn) by 2033. Following the launch of the pilot phase of the 'Real Estate Tokenisation,' one of the initiatives under the umbrella of the 'REES Real Estate Innovation Initiative,' Dubai Land Department (DLD) and the Dubai Virtual Assets Regulatory Authority (VARA) signed a collaboration agreement aimed at enhancing Dubai's global position as a leading hub for investment and innovation in the real estate sector. This agreement seeks to improve the regulatory environment related to virtual assets in real estate transactions in line with the strategic directives of the UAE and the vision of its wise leadership to position Dubai as a global hub for innovation and investment. Dubai real estate tokenisation 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 Marwan bin Ghalita, Director General of the Dubai Land Department, and 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. 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. 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 AED1tn ($272bn) in transactions, growing by 70 per cent 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. 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. Helal Almarri, DG of DET and DWTCA 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 fractionalised 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.' Marwan bin Ghalita, Director General of the Dubai Land Department, said: '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.' The collaboration underscores Dubai's commitment to fostering a diverse and advanced investment ecosystem that enhances the competitiveness of the real estate sector.
