Dubai land regulator teams up with crypto watchdog to drive real estate tokenization
Dubai’s real estate and crypto regulators have signed a cooperation deal to explore tokenisation in property registration and management.
Dubai’s land and virtual assets regulators have signed a new agreement to support real estate tokenization and improve rules around the use of cryptocurrencies in property transactions, following the launch of a pilot aimed at linking property tokenization with the real estate registry.
In a press release on Sunday, the Dubai Land Department said it signed the deal with the Dubai Virtual Assets Regulatory Authority in a bid to connect real estate registration with tokenization using a governance system that “enhances market liquidity and improves the efficiency of property management companies.”
Officials say the plan could make it easier for small investors to access the real estate market and help grow the sector.
Helal Saeed Al Marri, Director-General of the Dubai Department of Economy and Tourism, says the partnership reflects the “future-focused innovation,” adding that partnership with the Dubai Virtual Assets Regulatory Authority aligns “with the objectives of the Dubai Real Estate Strategy 2033 and the Dubai Economic Agenda D33, which reinforce Dubai’s global leadership in one of the most vital sectors.”
In mid-February, crypto.news reported that the Virtual Assets Regulatory Authority plans to require licensed crypto issuers and service providers to disclose the names of major crypto holders, or “whales,” especially if most tokens are owned by a creator or institution. VARA’s boss Matthew White explained that the move could help investors better understand the products they are buying, as many tokens are controlled by third parties like venture capitalists.
