DLD, VARA collaborate to link real estate registry with tokenisation
This initiative seeks to enhance the efficiency of property management companies and increase liquidity in the real estate market, reinforcing Dubai's position as a global hub for real estate innovation.
This agreement, the first of its kind globally, follows the launch of the pilot phase of the 'Real Estate Tokenisation Project.' It was signed in the presence of Helal Saeed Almarri, Director-General of the Department of Economy and Tourism, and Marwan bin Ghalita, Director-General of Dubai Land Department, alongside senior officials from both entities.
The collaboration aims to enable the fractional ownership of real estate assets, allowing a broader base of investors – particularly small investors – to enter Dubai's real estate market. This contributes to greater economic inclusion and enhances the sector's appeal to global investments.
The project also supports the objectives of the 'Dubai Real Estate Strategy 2033' to grow real estate transaction volume to AED1 trillion, and contributes to the goals of the 'Dubai Economic Agenda D33,' which seeks to double the emirate's GDP over the next decade.
Helal Almarri affirmed that the agreement reflects the spirit of innovation and integration between Dubai's government and digital sectors, noting that real estate tokenisation represents a qualitative leap toward a more inclusive and transparent investment model.
For his part, Marwan bin Ghalita highlighted the importance of this step in driving real estate innovation, attracting technology companies, and enhancing the sector's digital infrastructure.
This cooperation comes as part of Dubai's ongoing commitment to establishing an advanced legislative environment that leverages artificial intelligence and asset tokenisation technologies, thereby supporting the sustainability and growth of the emirate's digital economy.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Arabian Post
4 hours ago
- Arabian Post
Dubai and Masdar City Collaboration to Boost Real Estate Investment
Arabian Post Staff -Dubai Dubai Land Department has formalised a groundbreaking partnership with Masdar City, paving the way for companies operating within Abu Dhabi's prominent free zones to acquire land plots and properties under the freehold ownership system in Dubai. This strategic memorandum of understanding aims to provide these companies with a more expansive and regulated pathway to invest in the Dubai real estate market, in line with the emirate's broader vision to bolster its economic landscape. The MoU was signed by Majid Al Marri, CEO of the Real Estate Registration Sector at DLD, and Ahmed Baghoum, CEO of Masdar City, during an official event in Dubai. The agreement marks a significant step in enhancing Dubai's real estate market, which is actively adapting to new investor demands and aims to remain a competitive player on the global stage. ADVERTISEMENT This collaboration is part of a wider effort to increase the attractiveness of the Dubai property market, with a focus on aligning with the Dubai Real Estate Strategy 2033. As part of this strategy, the city aims to enhance its status as a global hub for investment, business, and residential opportunities. By granting companies in Masdar City the ability to own land and property in Dubai, the DLD is encouraging greater foreign investment and further integration of the free zone's economic sectors with the emirate's broader financial ecosystem. The development comes as part of Dubai's commitment to expanding its investment opportunities across various sectors. This MoU reflects the UAE's ambition to tap into innovative and sustainable business models, especially in green and technology-driven industries. Masdar City, which has long been recognised as a leader in sustainable urban development, is expected to play a pivotal role in further shaping the region's real estate future. The partnership also signals a convergence of real estate and green innovation, capitalising on both sectors' growth trajectories. Masdar City, known for its focus on sustainability, is home to a growing number of businesses and startups involved in renewable energy, environmental solutions, and green technologies. By facilitating real estate ownership for these companies in Dubai, the DLD is fostering an environment that encourages companies operating in these industries to expand and deepen their investments in the UAE's economic framework. For Masdar City, the agreement opens up new opportunities for its tenants, creating a more expansive environment in which businesses can thrive, with the potential for significant capital appreciation as Dubai's real estate market remains one of the most stable and profitable in the region. This move is also expected to elevate the city's global competitiveness by promoting a broader base of businesses, both within Masdar and the UAE at large. The impact of the collaboration extends beyond just Masdar City, as it could set a precedent for similar partnerships with other free zones across the UAE. By allowing companies established in these zones to acquire freehold properties in Dubai, the deal may become a template for expanding the emirate's real estate portfolio to a wider range of international businesses. This would further diversify Dubai's economy, making it more resilient to external market fluctuations and better positioned for future growth. ADVERTISEMENT The MoU is also aligned with the Dubai Land Department's efforts to provide a comprehensive regulatory framework that ensures transparency and ease of investment. By streamlining the process for companies seeking to buy real estate in Dubai, the agreement simplifies procedures that may have previously been perceived as barriers to entry, thereby improving the investment climate in the city. As global markets continue to shift and adapt to new economic realities, Dubai remains at the forefront of innovation in property ownership models. With its unique approach to offering a blend of residential, commercial, and industrial opportunities, the city continues to cater to a wide range of investors, both local and international. The collaboration between Dubai Land Department and Masdar City reinforces the UAE's strategy of creating an attractive and dynamic environment for business, while also ensuring sustainable growth. With the expanding role of free zones in driving the nation's economy, this move is expected to provide tangible benefits for both Masdar City tenants and the wider Dubai real estate market, positioning the emirate as a leader in global real estate investment.
Fintech News ME
7 hours ago
- Fintech News ME
Dubai Land Department, Emirates NBD Launch Joint Studies to Reform Property Registration
The Dubai Land Department (DLD) has signed a memorandum of cooperation with Emirates NBD, a major banking group in the Middle East, North Africa and Turkey (MENAT) region. The agreement sets out a joint framework for regulatory and technical studies aimed at improving real estate transaction registration processes and strengthening the overall efficiency of the sector. The partnership includes two studies. The first will explore ways to optimise the registration process for real estate transactions completed outside the UAE. The second will focus on the development of financial services that can support the registration of real estate sales. These efforts are intended to improve customer experience and provide better support for investors throughout their property transactions. Omar Hamad BuShehab, Director General of the Dubai Land Department, said: 'This partnership marks a significant step toward establishing a shared knowledge base that opens up new horizons for advancing real estate registration services, thereby further strengthening Dubai's position as a global destination for real estate investment. These efforts also align with the objectives of the Dubai Real Estate Strategy 2033, which aims to build a resilient, competitive, and innovation-driven sector that reflects the emirate's status as a global leader in real estate.' Hesham Abdulla Al Qassim, Vice Chairman and Managing Director of Emirates NBD, said: 'Integrated offerings under this collaboration will help enhance the property transaction experience while building greater confidence among market participants, including investors, ensuring Dubai maintains its leadership position in the global real estate sector.' The initiative is in line with the objectives of the D33 Economic Agenda, which aims to position Dubai among the world's top three economic cities. It also reflects ongoing efforts to make the real estate market more attractive to international investors by providing a supportive regulatory framework, encouraging sustainable growth, and improving service delivery.
Hi Dubai
8 hours ago
- Hi Dubai
Dubai Land Department and Masdar City Sign Deal to Allow Free Zone Companies to Own Property in Dubai
The Dubai Land Department signed a memorandum of cooperation with Masdar City, aiming to enable companies and establishments operating in the free zones under Masdar City to own land plots and properties under the freehold ownership system in Dubai, within a clear and comprehensive regulatory framework. This step is part of Dubai Land Department's efforts to enhance the competitiveness of the emirate's real estate market and expand the investor base by creating new opportunities for free zone companies, in line with the objectives of the Dubai Real Estate Strategy 2033. The MoC was signed by Majid Al Marri, CEO of the Real Estate Registration Sector at DLD, and Ahmed Baghoum, Chief Executive Officer of Masdar City, during an official ceremony held in Dubai, in the presence of several directors from both sides. Majid Al Marri said: 'We continue to expand access to Dubai's freehold market through collaborative models that enhance the integration of the real estate ecosystem across the UAE. Enabling companies registered in free zones to own property in the emirate aligns with our vision of building a more open investment environment that offers diverse ownership options. We consider this a strategic step that adds significant value to the objectives of the Dubai Economic Agenda D33 by diversifying the investor base and stimulating new investment flows that contribute to market growth and sustainability, all in line with our leadership's vision of making Dubai the best city in the world to live and work.' Ahmed Baghoum said: "This initiative highlights Masdar City's commitment to supporting businesses with innovative solutions that address their needs. By simplifying property registration processes for companies operating within Masdar City's Free Zones, we are enabling them to expand their operations seamlessly while contributing to the UAE's long-term growth. This partnership highlights our shared vision with DLD to create a business-friendly environment and reinforces Masdar City's position as a global hub for innovation and investment." Under this memorandum, both parties will collaborate on developing an integrated framework that includes clear eligibility criteria for establishments, along with the legal and administrative procedures required to complete the registration process. The cooperation will also ensure direct coordination between the Dubai Land Department and the Free Zone Authority to simplify and expedite procedures, enable smooth data exchange, and implement an advanced digital system for online applications, request tracking, and document verification, enhancing accuracy and transparency. Additionally, the partnership will provide guidance and support to companies, enabling them to understand the legal and procedural requirements better and ultimately fostering an environment that encourages ownership and investment. This collaboration aims to support companies' expansion plans by providing practical solutions that facilitate their entry into Dubai's real estate market, one of the most dynamic and thriving markets in the region. It also reflects Dubai Land Department's commitment to adopting open policies that enhance market flexibility, support national efforts to attract high-quality investments, and contribute to building a more integrated business environment across the UAE. News Source: Cicero & Bernay Communications
