INTELLIGENT BRANDS // Mobile Technology
Dubai Land Department launches pilot phase of Real Estate Tokenisation Project
As part of its ongoing efforts to strengthen Dubai’ s position as a global provider in property technology, and in line with the Dubai Real Estate Sector Strategy 2033, 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.
His Excellency Eng Marwan Ahmed Bin Ghalita, Director General of Dubai Land Department, said:“ By converting real estate assets into digital tokens recorded on blockchain technology, tokenisation simplifies and enhances buying, selling, and investment processes.”
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.”
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 Tokenisation,’ bringing together proptech companies, including top global firms specialising in real estate asset tokenisation.
The Real Estate Tokenisation Project aims to attract global technology firms and open new investment opportunities for
HE Eng Marwan Ahmed Bin Ghalita, Director General of Dubai Land Department 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.
Furthermore, the initiative contributes to attracting investments and virtual asset companies to establish their operations in Dubai while ensuring the necessary regulatory frameworks are in place to protect investors and stakeholders.
Real estate tokenisation transforms real estate assets into digital tokens using blockchain technology.
Each asset is divided into shares based on an investor’ s budget and financial strategy, enabling fractional property ownership.
This innovative approach marks a significant shift by allowing investors to acquire a portion of a property without fully purchasing it, leveraging advanced technology. Unlike crowdfunding, which grants investors access to the real estate market with small investments through digital platforms, tokenisation offers a distinct and more structured model for real estate investment.
Dubai Land Department continues its commitment to achieving the objectives of the Dubai Economic Agenda D33, which prioritises adopting digital solutions. p
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