YEREVAN (CoinChapter.com)
— Dubai Land Department (DLD) and Virtual Assets Regulatory Authority (VARA) signed an agreement on April 6 to integrate blockchain into the real estate registry. The deal links property records with property tokenization, using a shared governance system.
The authorities confirmed that this system will support digital documentation, improve asset tracking, and streamline ownership transfers. It also aims to create a standard model for tokenized property Dubai services.
This move aligns with the goals of Dubai’s D33 economic strategy, which aims to double the city’s gross domestic product (GDP) within a decade. The plan includes modernizing property transactions and improving investment access through digital infrastructure.
Land Department Pilots Real Estate Tokenization
The agreement follows a pilot phase launched by DLD on March 20, 2025. The agency started converting real estate title deeds into blockchain real estate tokens, marking the first such move in the UAE.
DLD projected that real estate tokenization UAE could grow to over $16 billion by 2033. This estimate would account for around 7% of all real estate transactions in Dubai by that time.
The pilot focused on testing blockchain applications in title registration, aiming to boost transparency and reduce time spent on paperwork. Tokenizing assets also makes it easier to divide ownership into smaller units for investment.
Tokinvest CEO Describes Dubai’s Onchain Progress
Scott Thiel, CEO and co-founder of Tokinvest, said Dubai’s fast shift from pilot to execution shows the country’s active position in real estate blockchain Dubai development.
“In just three weeks, Dubai has gone from pilot launch to strategic execution and the message is loud and clear: the future of real estate investment is onchain,” said Thiel.
He added that the new DLD–VARA model provides a working structure for tokenized property Dubai, with real-world applications. According to Thiel, this is a working method for “Real Estate 2.0.”
He said the joint effort would make blockchain real estate investment easier for international participants and standardize operations in the tokenized assets UAE sector.
Blockchain Governance Model for Dubai Real Estate
The DLD and VARA agreement introduces a regulatory structure to handle tokenized property Dubai transactions. It includes shared licensing, unified compliance, and integrated data tracking for digital property records.
Mouhamad Alblooshi, CEO of VARA, said the agreement helps align Dubai’s real estate operations with digital asset oversight. Authorities aim to develop this framework within the city’s existing blockchain strategy.
The plan will allow token-based cross-border property transactions and offer detailed audit trails. These systems are designed to help track changes in ownership, manage digital title deeds, and support legal compliance.
The cooperation also supports VARA’s broader aim to supervise virtual assets in Dubai across sectors including property, finance, and commercial services.
In addition, outside the government sector, developers are also entering real estate tokenization UAE deals. In January 2025, DAMAC Group, a leading Dubai property developer, signed a $1 billion deal with Mantra, a blockchain platform.
The agreement targets tokenized assets UAE, including residential, commercial, and undeveloped land properties. It adds to a growing number of initiatives aiming to connect real-world assets with blockchain real estate platforms.
The collaboration between public agencies and private developers reflects Dubai’s regulatory shift toward property tokenization across the real estate sector.
Specifically, property tokenization allows asset owners to convert real estate into digital tokens recorded on a blockchain ledger. Above all, these tokens can then be used for fractional ownership, digital trading, and smart contract-based transfers.