Dubai Debuts a Real Estate Tokenization Pilot
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The Dubai government has initiated a pilot project to transform real estate assets into digital tokens on the blockchain.
The Dubai Land Department (DLD), responsible for organizing and promoting Dubai’s real estate, announced the launch of its real estate tokenization project.
This initiative, in collaboration with the Dubai Future Foundation (DFF) and the Virtual Assets Regulatory Authority (VARA), marks the DLD as the first real estate registration entity in the UAE to implement tokenization for property title deeds.
According to the DLD, this move is expected to boost growth in real estate tokenization, with a predicted market value exceeding $16 billion by 2033. This would account for 7% of Dubai’s total real estate transactions.
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