Dubai Land Department Launches Real Estate Tokenisation Initiative
The Dubai Land Department (DLD) has initiated the pilot phase of its Real Estate Tokenisation Project , positioning itself as the first real estate registration entity in the Middle East to implement blockchain-based property tokenisation. This initiative is expected to revolutionise property ownership by enabling fractional investment and simplifying transactions. Understanding Real Estate Tokenisation Real estate tokenisation is the process of converting physical property assets into digital tokens using blockchain technology. Each token represents a fractional share of the property, allowing multiple investors to co-own an asset. This approach enhances liquidity, reduces entry barriers for investors, and streamlines transactions through digital verification mechanisms. Strategic Collaborations and Objectives The DLD is collaborating with the Dubai Virtual Assets Regulatory Authority (VARA) and the Dubai Future Foundation (DFF) to develop and implement the ...