Dubai Links Real Estate Registry to Blockchain for Enhanced Liquidity

Dubai has made a significant advancement in integrating blockchain technology into its real estate sector. The Dubai Land Department (DLD) and the Dubai Virtual Assets Regulatory Authority (VARA) have announced an agreement to link the city’s real estate registry with property tokenization. This initiative aims to enhance liquidity, expand investment opportunities, and improve regulatory clarity for virtual assets in property transactions.

The agreement, signed on April 6, 2025, during the pilot phase of the “Real Estate Tokenisation” initiative under the broader REES Real Estate Innovation Initiative, is a global first. It introduces a governance model that connects property ownership records with digital tokens, facilitating more efficient property management and streamlining access for smaller investors. The signing ceremony was attended by key figures including 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 formalization of the agreement was carried out by Majid Al Marri, Executive Director of Real Estate Registration at DLD, and Matthew White, CEO of VARA. This collaboration is expected to make the real estate sector more accessible, particularly for smaller investors, by enabling tokenized ownership of real estate assets. Marwan bin Ghalita emphasized that this agreement is a strategic step towards leveraging technological advancements to empower the real estate sector, aligning with the objectives of the Dubai Real Estate Strategy 2033 and the Dubai Economic Agenda D33.

The initiative is also expected to play a key role in achieving D33’s ambition to double Dubai’s GDP within a decade. The real estate sector is central to this target, with plans to reach AED 1 trillion in transaction volume and grow by 70% in value. Integrating virtual assets into real estate operations is seen as a move that could unlock new growth opportunities and improve regulatory clarity for fractionalized ownership models. Helal Al Marri highlighted that this partnership reflects the future-focused innovation that is Dubai’s dna, with real estate and virtual assets being key pillars of the D33 Economic Agenda.

On March 20, 2025, Dubai officially kicked off the pilot phase of its Real Estate Tokenization Project, marking a major milestone in its push to digitize property ownership. The project is led by the DLD in partnership with VARA and the Dubai Future Foundation. It is part of the broader ‘REES’ strategy and follows the DFSA’s launch of a tokenization sandbox within DIFC. The new agreement includes provisions for pilot projects to test and manage risk, enhance digital infrastructure, and raise investor awareness about virtual asset regulation.

Both entities plan to work closely with technology providers to advance virtual asset integration, focusing on data centralization, artificial intelligence adoption, and improving the overall investment experience. As Dubai continues to attract global interest in real estate and blockchain innovation, this agreement sets the stage for a deeper integration of tokenized assets into the city’s economic framework.