Dubai’s ambitious drive to integrate virtual assets into its real estate market took a significant step forward with a collaboration agreement signed between the Dubai Land Department (DLD) and the Dubai Virtual Assets Regulatory Authority (VARA). The agreement, part of the ‘REES Real Estate Innovation Initiative,’ aims to improve the regulatory environment surrounding virtual assets in real estate transactions, further positioning Dubai as a global leader in investment and innovation.
The agreement, the first of its kind globally, links the real estate registry with property tokenisation through a governance system designed to enhance market liquidity and improve the efficiency of property management companies. It was signed in the presence of His Excellency Marwan bin Ghalita, Director General of DLD, and His Excellency Helal Al Marri, Director General of the Dubai Department of Economy and Tourism. Majid Al Marri, Executive Director of the Real Estate Registration Sector at DLD, and Matthew White, CEO of VARA, also participated in the signing ceremony.
The collaboration is designed to modernise legal frameworks, ensuring investor rights and compliance with evolving requirements. It also aims to streamline access to Dubai’s real estate market, opening up investment opportunities for smaller investors and supporting the sector’s growth.
Dubai’s commitment to fostering an advanced investment environment is central to this initiative, with both DLD and VARA working together to ensure that the regulatory landscape keeps pace with future developments. This partnership is expected to contribute to the UAE’s broader goals, particularly in light of Dubai’s Economic Agenda D33.
The agreement supports Dubai’s goal of doubling its GDP over the next decade, with the real estate sector projected to account for US$272 billion in transactions, growing by 70%. “This collaboration will be key in achieving the objectives of the Dubai Real Estate Strategy 2033 and D33,” said Al Marri. “We’re integrating innovative solutions to maintain Dubai’s competitive edge as a premier investment destination.”
The agreement also focuses on advancing digital infrastructure, with an emphasis on virtual asset regulations that align with global best practices. It encourages technology companies to collaborate on the development of Dubai’s real estate sector through virtual asset integration.
HE Helal Al Marri, Director General of the Dubai Department of Economy and Tourism, highlighted that the partnership would contribute to more inclusive economic participation, saying, “By joining forces, DLD and VARA will create the blueprint for RE 2.0 in a decentralised future economy.”
For His Excellency Marwan bin Ghalita, this partnership marks a strategic step in empowering the real estate sector. “It aligns with the objectives of the Dubai Real Estate Strategy 2033, reinforcing Dubai’s position as a global leader in innovation,” he said.
Through this agreement, Dubai is setting the stage for a future-ready, technology-driven economy that prioritises investor protection and market growth.
