The Dubai Land Department (DLD) has officially launched the second phase of its Real Estate Tokenisation Project, a significant move that enables resale activity in the secondary market. This development advances the project from its initial pilot to a more mature operational stage within a regulated framework, further solidifying Dubai’s position as a regional leader in real estate technology.
From Pilot to Regulated Trading
The project’s pilot phase, introduced in March under the “REES Real Estate Innovation Initiative,” successfully tested the regulatory, legislative, and technical infrastructure for tokenising real estate on title deeds. This initiative, developed in collaboration with the Virtual Assets Regulatory Authority (VARA), made Dubai the first real estate registration authority in the region to adopt this innovative model.
Phase II now allows for the resale of approximately 7.8 million real estate tokens within a controlled pilot framework, officially commencing on February 20th.
Enhancing Market Integrity and Investor Confidence
The primary objective of this new phase is to rigorously assess market efficiency, test operational readiness, and enhance transparency and governance. A key focus is to safeguard investors’ rights while ensuring the complete integrity of every transaction.
DLD confirmed that the phase is being implemented gradually, with outcomes carefully evaluated in coordination with all relevant regulatory authorities.
“This approach ensures alignment with approved regulatory and legislative frameworks and strengthens confidence among local and international investors,” the department stated.
Aligning With Dubai’s Long-Term Vision
This pioneering project is a core component of the Dubai Real Estate Sector Strategy 2033, which aims to improve market balance, transparency, and technology adoption to create an integrated investment experience.
Furthermore, it aligns with the Dubai Urban Plan 2040, supporting smart urban development and efficient land use, and contributes to the broader economic goals of UAE Vision 2071. DLD will continue its collaboration with VARA and technical partners to develop standards for future phases and explore expanded participation from additional platforms.
About Dubai Land Department
The Dubai Land Department (DLD) was established in 1960 to create a leading real estate sector in the Middle East and globally. It provides a comprehensive range of real estate services, including documenting property sales, issuing ownership titles, and organising and promoting real estate investment and knowledge.
Source: Fintech News AE
