Post by: Layla Badr
Photo: Dubai Government Media Office
In a major move, the Dubai Land Department (DLD) and the Dubai Virtual Assets Regulatory Authority (VARA) have signed a special agreement to bring together the world of real estate and virtual assets like tokens. This is the first time something like this has been done anywhere in the world.
What Is This Agreement About?
This agreement will connect Dubai's property registry system with property tokenisation. In simple words, it means people can soon buy and sell property using digital tokens. A token is like a small part of a property that can be bought or sold online. This will help make the real estate market more active and make it easier for property companies to manage things.
Stay informed with the latest news. Follow DXB News Network on WhatsApp Channel
This new step is part of a bigger plan called the Real Estate Tokenisation Project, which is one of the projects under the REES Real Estate Innovation Initiative. The goal is to make Dubai a top global destination for both property investment and new digital technologies.
Who Was Involved?
The agreement was signed in front of important leaders:
His Excellency Marwan bin Ghalita, Director General of DLD
His Excellency Helal Al Marri, Director General of Dubai Economy and Tourism
Majid Al Marri, Executive Director at DLD
Matthew White, CEO of VARA
Why Is This Important?
The main aim is to create stronger laws and systems that match the future of real estate and digital money. This will protect the rights of investors and also make it easier for people to invest, especially small investors. It also supports Dubai’s vision of becoming the best place in the world for investment and new ideas.
This step fits with Dubai's big plan known as the Dubai Economic Agenda D33, which hopes to double Dubai’s income and reach AED 1 trillion in real estate transactions in the next 10 years.
What Will Change?
Property buying and selling will become faster and easier.
More people will be able to invest in real estate, even with small amounts of money.
New rules will make things safer and more transparent for everyone.
It will help small investors and new businesses to enter the market.
The real estate sector will grow with the help of digital tools and smarter systems.
Using New Technology and AI
The agreement also focuses on improving digital tools and using Artificial Intelligence (AI). It aims to make data more organized, easy to access, and useful for investors. There will also be awareness programs to help people understand the new digital rules.
Also, the Dubai government wants to team up with technology companies to help bring these digital changes to life.
What the Leaders Said
HE Helal Al Marri said:
“This agreement is a smart step into the future. It brings together real estate and virtual assets, which are both very important for Dubai’s future economy. It will help more people take part in the economy and create more chances to grow.”
HE Eng. Marwan bin Ghalita added:
“This agreement helps us use technology in the best way to make the real estate sector stronger. It also supports Dubai’s goals for 2033 and D33 by making property investment smoother and safer for all.”
Looking Ahead
This partnership is a sign that Dubai is ready for the future. It shows the city’s commitment to building a modern, digital, and open investment world. With this step, Dubai continues its journey to becoming a smart city where technology and investment go hand in hand.
In short, this is a big leap that makes it easier, safer, and smarter to invest in Dubai’s real estate — even using virtual assets like tokens.
#trending #latest #DubaiRealEstate #VirtualAssets #PropertyTokenisation #SmartDubai #FutureOfRealEstate #DubaiInnovation #D33Agenda #InvestInDubai #DigitalDubai #RealEstateRevolution #PropertyTech #BlockchainInRealEstate #DubaiLandDepartment #VARA #TechDrivenFuture #RealEstateInnovation #GlobalInvestmentHub #SmartInvestment #DubaiGrowth #FractionalOwnership #headlines #topstories #globalUpdate #dxbnewsnetwork #dxbnews #dxbdnn #dxbnewsnetworkdnn #bestnewschanneldubai #bestnewschannelUAE #bestnewschannelabudhabi #bestnewschannelajman #bestnewschannelofdubai #popularnewschanneldubai
A tragic road accident near Bamhori Dhaba killed 6 people, including a 2-year-old, and injured 3. Victims were returning from a wedding in Bihar to Indore...Read More.
Explore the best family-friendly road trip destinations for fun...Read More.
Indian Air Force Joins Exercise Desert Flag-10 in UAE
Indian Air Force takes part in Exercise Desert Flag-10 at UAE's Al Dhafra Air Base with 11 other nat
Piastri takes F1 title lead after Saudi Arabian Grand Prix
Oscar Piastri wins the Saudi Arabian GP, taking the Formula One title lead from Lando Norris. Versta
11 Dead, Including 3 Children, in New Delhi Building Collapse
A building collapsed in New Delhi, killing 11 people, including 3 children. Rescue teams worked thro
UAE President Receives Iraqi FM, Invited to Arab Summit
President Sheikh Mohamed met Iraqi FM Fuad Hussein, who invited him to the Arab Summit in Baghdad; b
Humanoid Robots Race with Humans at Half-Marathon in China
21 humanoid robots raced alongside runners in the Yizhuang half-marathon, showcasing robotic enginee
