Dubai Land Department (DLD) has launched the pilot phase of the ‘Real Estate Tokenisation Project’ under its Real Estate Innovation Initiative (REES).
This makes DLD the first real estate registration entity in the Middle East to implement tokenisation on property title deeds.
The project is being developed in collaboration with the Dubai Virtual Assets Regulatory Authority (VARA) and Dubai Future Foundation (DFF) through Sandbox Dubai.
DLD estimates that real estate tokenisation could reach a market value of AED 60 billion by 2033, accounting for 7% of Dubai’s total real estate transactions.
As part of this initiative, DLD held a workshop on real estate tokenisation, gathering industry experts and proptech firms.
Marwan Ahmed Bin Ghalita, Director General of DLD, said,
“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.”
“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 initiative aims to attract technology firms and expand investment opportunities by allowing multiple investors to co-own a property through tokenised real estate assets.
It strengthens Dubai’s position as a hub for virtual assets while ensuring regulatory frameworks are in place to protect investors.
The project promotes investment awareness, encourages real estate innovation, and supports the development of digital solutions in the sector.
Real estate tokenisation divides assets into digital shares using blockchain technology, enabling fractional ownership based on an investor’s budget.
This approach differs from crowdfunding by offering a structured model for real estate investment.
Featured image credit: edited from freepik
