Dubai Land Department Launches Real Estate Tokenization Pilot with Blockchain

Dubai Land Department (DLD) has launched a real estate tokenization pilot program, becoming the first property registration authority in the Middle East to integrate blockchain for property title deeds. The initiative, developed with the Virtual Assets Regulatory Authority (VARA) and Dubai Future Foundation (DFF), aligns with Dubai’s 2033 real estate strategy and its broader vision to lead in technology adoption.

DLD projects that tokenized real estate could account for 7% of Dubai’s property transactions, potentially reaching 60 billion dirhams ($16 billion) by 2033. This move highlights Dubai’s growing role in real-world asset (RWA) tokenization, where blockchain enables fractional property ownership, lowering entry barriers for investors and boosting liquidity. Unlike traditional crowdfunding, tokenization offers a structured ownership model, streamlining buying, selling, and investment processes.

Despite operational challenges that may slow adoption, the initiative underscores Dubai’s commitment to innovation. Marwan Ahmed Bin Ghalita, DLD’s director general, emphasized the department’s collaboration with technology firms to refine and scale the project. With blockchain-driven property transactions gaining momentum, Dubai is positioning itself as a global leader in real estate tokenization.