{"id":125450,"date":"2025-03-20T08:17:47","date_gmt":"2025-03-20T08:17:47","guid":{"rendered":"http:\/\/cryptospotters.net\/?p=125450"},"modified":"2025-03-20T08:17:47","modified_gmt":"2025-03-20T08:17:47","slug":"dubai-land-department-begins-real-estate-tokenization-project","status":"publish","type":"post","link":"http:\/\/cryptospotters.net\/?p=125450","title":{"rendered":"Dubai Land Department begins real estate tokenization project"},"content":{"rendered":"<p>Source: Cointelegraph.com NewsThe Dubai government has started the pilot phase of a project that will convert real estate assets into digital tokens on the blockchain.\u00a0<br \/>\nThe Dubai Land Department (DLD), a government entity responsible for registering, organizing and promoting Dubai real estate, announced that it started the pilot phase of its real-estate tokenization project.\u00a0<br \/>\nThe project was launched in collaboration with the Dubai Future Foundation (DFF) and the Virtual Assets Regulatory Authority (VARA), Dubai\u2019s crypto regulator.\u00a0<br \/>\nThe token launch makes the DLD the first real-estate registration entity in the UAE to implement tokenization on property title deeds.\u00a0<br \/>\nDLD expects the sector to grow $60 billion by 2033<br \/>\nIn the announcement, the DLD said the initiative is expected to drive growth in real estate tokenization. The government agency predicts that its market value could reach over $16 billion by 2033. According to the agency, this represents 7% of Dubai\u2019s total real estate transactions.\u00a0\u00a0<br \/>\nDLD Director-General Marwan Ahmed Bin Ghalita said in the announcement that real estate tokenization drives a fundamental change in the sector.\u00a0<br \/>\n\u201cBy converting real estate assets into digital tokens recorded on blockchain technology, tokenization simplifies and enhances buying, selling, and investment processes,\u201d he said.\u00a0<br \/>\nThe official said this aligns with the DLD\u2019s vision to become a global leader in real estate investment and use technology to develop innovative real estate products.\u00a0<br \/>\nRelated: Mantra and Damac sign $1B deal to tokenize Middle Eastern assets<br \/>\nTokenization to open up Dubai real estate to global investors<br \/>\nTokinvest co-founder and CEO Scott Thiel said the initiative is a \u201ctransformative moment\u201d for the sector. Thiel told Cointelegraph:\u00a0<br \/>\n\u201cThe initiative not only reinforces Dubai\u2019s leadership in blockchain adoption but also paves the way for a more inclusive, liquid, and efficient real estate market.\u201d\u00a0<br \/>\nThe executive working in a VARA-regulated RWA platform told Cointelegraph that DLD\u2019s new project would open Dubai\u2019s real estate market to a global pool of investors.\u00a0<br \/>\n\u201cTokenisation is no longer a concept. It\u2019s a reality that will open up Dubai\u2019s real estate market to a global pool of investors like never before,\u201d Thiel told Cointelegraph.\u00a0<br \/>\nIn a previous interview, Thiel told Cointelegraph that the UAE\u2019s proactive regulations paved the way for the country\u2019s real-world asset (RWA) tokenization boom. The executive said there was a genuine desire from government agencies to develop clear guidelines for the sector.\u00a0<br \/>\nMagazine: Crypto fans are obsessed with longevity and biohacking: Here\u2019s why<a href=\"https:\/\/cointelegraph.com\/news\/dubai-launches-pilot-tokenize-real-estate-blockchain?utm_source=rss_feed&amp;utm_medium=rss&amp;utm_campaign=rss_partner_inbound\" target=\"_blank\" class=\"feedzy-rss-link-icon\" rel=\"noopener\">Read More<\/a><\/p>","protected":false},"excerpt":{"rendered":"<p>Source: Cointelegraph.com NewsThe Dubai government has started the pilot phase of a project that will convert real estate assets into digital tokens on the blockchain.\u00a0 The Dubai Land Department (DLD),&hellip; <\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[5],"tags":[],"_links":{"self":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/125450"}],"collection":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=125450"}],"version-history":[{"count":0,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/125450\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=125450"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=125450"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=125450"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}