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Dubai Land Department and Virtual Assets Regulatory Authority ..

Following the launch of the pilot phase of the ‘Real Estate Tokenisation,’ one of the initiatives under the umbrella of the ‘REES Real Estate Innovation Initiative,’ Dubai Land Department (DLD) and the Dubai Virtual Assets Regulatory Authority (VARA)

signed a collaboration agreement aimed at enhancing Dubai’s global position as a leading hub for investment and innovation in the real estate sector.

This agreement seeks to improve the regulatory environment related to virtual assets in real estate transactions In line with the strategic directives of the UAE and the vision of its leadership to position Dubai as a global hub for innovation and investment.

This agreement, the first of its kind on a global scale in linking the real estate registry with property tokenisation through a governance system that enhances market liquidity and improves the efficiency of property management companies, was signed in the presence of Marwan bin Ghalita, Director General of the Dubai Land Department, and Helal Al Marri, Director General of the Dubai Department of Economy and Tourism. The agreement was signed by Majid Al Marri, Executive Director of the Real Estate Registration Sector at DLD, and Matthew White, CEO of VARA.