Dubai Land Department Pioneers Real Estate Tokenization in the Middle East with Pilot Launch
In a strategic move to reinforce Dubai’s leadership in property technology and in alignment with the Dubai Real Estate Sector Strategy 2033, the Dubai Land Department (DLD) has officially launched the pilot phase of its Real Estate Tokenization Project. This initiative makes DLD the first government real estate registration authority in the Middle East to implement blockchain-powered tokenization of property title deeds.
The project is being rolled out in partnership with the Dubai Virtual Assets Regulatory Authority (VARA), the Dubai Future Foundation (DFF), and SandBox Real Estate. Together, they are laying the foundation for a new era of digital real estate investment in Dubai.
According to DLD, the real estate tokenization sector is expected to reach a market value of AED 60 billion by 2033, representing 7% of all real estate transactions in Dubai.
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 tokenization.
A Revolutionary Tool Transforming the Sector
His Excellency 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 tokenization 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, tokenization 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 that the project forms part of the broader Real Estate Innovation Initiative (REES), which aims to attract global tech firms, foster cutting-edge real estate products, and improve transparency and governance within the sector.
Objectives and Vision
The Real Estate Tokenization Project seeks to:
- Diversify property ownership by enabling multiple investors to co-own assets through tokenized shares.
- Strengthen Dubai’s position as a global hub for virtual assets.
- Increase investment awareness around virtual assets and services.
- Encourage innovation in the real estate sector while ensuring investor protection through a robust regulatory framework.
By transforming physical real estate into digital tokens, the initiative makes fractional ownership accessible, offering investors the opportunity to buy into Dubai’s real estate market without needing to acquire entire properties. Unlike crowdfunding models, tokenization offers a structured and scalable approach to real estate investment.
Driving Dubai’s Digital Economy
This initiative supports the goals of the Dubai Economic Agenda D33, which prioritises the adoption of digital solutions and future technologies. By pioneering real estate tokenization, DLD is helping to position Dubai as a leader in digital economy development, driving sustainable growth and reinforcing the emirate’s status as a hub for innovation and investment.
Following the pilot phase, DLD will evaluate outcomes and insights to refine the framework in preparation for full-scale deployment.
