emirates7 - The Abu Dhabi Real Estate Centre (ADREC) today announced the signing of a strategic Memorandum of Understanding (MoU) with Technology Innovation Institute, VentureOne, Finstreet Limited, ADI DLT Foundation, and Advanced Real Estate Services.
This landmark agreement establishes a comprehensive framework bringing together six key entities to advance blockchain technology integration within Abu Dhabi's real estate sector in a unified effort to enhance transparency, efficiency, and security across real estate transactions and services.
Each participating organisation maintains its operational independence while contributing specialised resources, expertise, and technologies toward achieving shared objectives through coordinated project initiatives. This collaborative model reflects Abu Dhabi’s strategy, which revolves around identifying key opportunities and strategic enablers to unlock forward-looking economic impact in the real estate sector.
Eng. Rashed Al Omaira, Acting Director-General of ADREC, said, "This strategic partnership marks a pivotal step in our journey to position Abu Dhabi as a global frontrunner in real estate innovation. By harnessing blockchain technology, we are establishing a foundation for property transactions that are transparent, efficient and reliable, delivering value to investors, residents and the broader real estate ecosystem.”
He added, “This collaboration reflects our commitment to adopting cutting-edge technologies that elevate service standards and reinforces market trust. Our long-term vision encompasses optimising asset management, enabling cross-border transactions, and enhancing data interoperability across government services. These initiatives are key to strengthening the sector’s fundamentals and accelerating Abu Dhabi’s leadership in real estate digitalisation.”
The MoU outlines a collaborative framework to explore the application of blockchain technology in transforming the real estate landscape. Through pilot initiatives in areas such as property registration, title validation, transaction management, shared ownership models, and digital asset integration, the partnership aims to enhance operational efficiency, reduce turnaround times, and simplify processes, all while aligning with relevant regulatory and international standards.
By integrating blockchain with existing property databases and digital identity systems, the initiative will improve data accuracy, accelerate transaction workflows, and offer greater visibility into ownership records, ultimately fostering trust and confidence across the market.
This landmark agreement establishes a comprehensive framework bringing together six key entities to advance blockchain technology integration within Abu Dhabi's real estate sector in a unified effort to enhance transparency, efficiency, and security across real estate transactions and services.
Each participating organisation maintains its operational independence while contributing specialised resources, expertise, and technologies toward achieving shared objectives through coordinated project initiatives. This collaborative model reflects Abu Dhabi’s strategy, which revolves around identifying key opportunities and strategic enablers to unlock forward-looking economic impact in the real estate sector.
Eng. Rashed Al Omaira, Acting Director-General of ADREC, said, "This strategic partnership marks a pivotal step in our journey to position Abu Dhabi as a global frontrunner in real estate innovation. By harnessing blockchain technology, we are establishing a foundation for property transactions that are transparent, efficient and reliable, delivering value to investors, residents and the broader real estate ecosystem.”
He added, “This collaboration reflects our commitment to adopting cutting-edge technologies that elevate service standards and reinforces market trust. Our long-term vision encompasses optimising asset management, enabling cross-border transactions, and enhancing data interoperability across government services. These initiatives are key to strengthening the sector’s fundamentals and accelerating Abu Dhabi’s leadership in real estate digitalisation.”
The MoU outlines a collaborative framework to explore the application of blockchain technology in transforming the real estate landscape. Through pilot initiatives in areas such as property registration, title validation, transaction management, shared ownership models, and digital asset integration, the partnership aims to enhance operational efficiency, reduce turnaround times, and simplify processes, all while aligning with relevant regulatory and international standards.
By integrating blockchain with existing property databases and digital identity systems, the initiative will improve data accuracy, accelerate transaction workflows, and offer greater visibility into ownership records, ultimately fostering trust and confidence across the market.