Dubai land regulator teams up with crypto watchdog to drive real estate tokenization

Real estate and regulators of Dubai cryptography have signed a cooperation agreement to explore tokenization in the registration and management of goods.

Dubai’s land and virtual asset regulators have signed a new agreement to support real estate tokenization and improve the rules concerning the use of cryptocurrencies in real estate transactions, after the launch of a pilot aimed at linking real estate tokenization with the real estate registration.

In a press release On Sunday, the Dubai land department said it has signed the agreement with the Dubai Virtual Assets Reguulatory Authority in order to connect real estate registration with tokenization using a governance system which “improves market liquidity and improves the efficiency of real estate management companies”.

Managers say that the plan could facilitate access to small investors to access the real estate market and help develop the sector.

Helal Saeed Al Marri, Director General of the Dubes Department of Economy and Tourism of Dubai, says that the partnership reflects “future innovation”, adding that the partnership with the real estate strategy of Dubai Virtual Assets aligns “with the objectives of the real estate strategy of Dubai 2033 and the Dubai economic agenda.

In mid-February, crypto.News reported Whether the regulatory authority for virtual assets plans to oblige issuers and service providers dismissed to disclose the names of the main holders of crypto, or “whales”, especially if most tokens belong to a creator or an institution. Vara boss, Matthew White, explained that this decision could help investors better understand the products they buy, because many tokens are controlled by third parties such as venture capital.