Dubai Land Department (DLD) has launched Phase II of Real Estate Tokenization Project, marking the start of resale activity in the secondary market starting 20 February.
This phase follows the pilot stage launched by the Department in March under the ‘REES Real Estate Innovation Initiative,’ in collaboration with the Virtual Assets Regulatory Authority (VARA) and strategic partners.
According to the statement, this move represents a strategic transition from the pilot phase to a more advanced operational stage, operating within a regulated framework that strengthens the real estate market’s readiness for a technology-driven future.
During the pilot phase, the regulatory, legislative, and technical frameworks for real estate tokenization on title deeds were tested, reinforcing Dubai’s position as the first real estate registration authority in the region to adopt this innovative model within a regulated environment.
Phase II focuses on activating resale activity in the secondary market by enabling the resale of approximately 7.8 million real estate tokens, within a controlled pilot framework aimed at assessing market efficiency, testing operational readiness, enhancing transparency and governance, and safeguarding investors’ rights while ensuring transaction integrity.
DLD implements a gradual approach for Phase II of the Real Estate Tokenization Project
DLD confirmed that the implementation of this phase follows a gradual approach based on the practical evaluation of outcomes, and in close coordination with relevant regulatory authorities, in preparation for future decisions grounded in clear operational data. This approach ensures alignment with approved regulatory and legislative frameworks and strengthens confidence among local and international investors.
DLD’s strategic move aligns with national agendas
The DLD’s Real Estate Tokenization Project serves as a key enabler of the objectives of the Dubai Real Estate Sector Strategy 2033, which focuses on strengthening market balance, enhancing transparency, enabling technology, and delivering an integrated investment experience.
This contributes to increasing the real estate sector’s share of Dubai’s GDP and reinforces the emirate’s position as a leading global hub for real estate investment, in alignment with the objectives of the UAE Vision 2071, aimed at consolidating global leadership and building a sustainable future economy.
The project also aligns with the Dubai Urban Plan 2040, which places people and quality of life at the heart of urban development by supporting smart and sustainable urban models, enhancing land-use efficiency, and adopting digital solutions that contribute to managing the emirate’s rapid urban growth and future demographic expansion.
Towards a fully integrated digital real estate ecosystem
Dubai Land Department affirmed that work continues in collaboration with VARA and technical and operational partners to develop regulatory and technical standards for upcoming phases, while studying the expansion of participation and the onboarding of additional platforms in the future, following a gradual approach subject to evaluation and the necessary regulatory approvals.
DLD concluded by reaffirming that the Real Estate Tokenization Project is a long-term strategic initiative that reflects Dubai’s vision of building a smart and sustainable real estate economy, enhancing the emirate’s global competitiveness, and cementing its position as a global laboratory for advanced real estate technologies.
