emirates7 - Dubai Land Department (DLD) has announced the launch of Phase II of the Real Estate Tokenisation Project, marking the start of resale activity in the secondary market starting 20 February, in a strategic step that reflects the project’s transition from a pilot phase to a more advanced operational stage, within a regulated model that enhances the real estate market’s readiness for a future driven by advanced technologies.
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.
During the pilot phase, the regulatory, legislative, and technical frameworks for real estate tokenisation 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 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.
The Real Estate Tokenisation 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.
DLD 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.
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.
During the pilot phase, the regulatory, legislative, and technical frameworks for real estate tokenisation 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 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.
The Real Estate Tokenisation 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.
DLD 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.
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