Dubai Land Dept. & VARA Partner to Boost Real Estate & Virtual Asset Regulation

In a bold step toward revolutionising real estate investment, the Dubai Land Department (DLD) and the Dubai Virtual Assets Regulatory Authority (VARA) have formalised a strategic partnership under the umbrella of the REES Real Estate Innovation Initiative. This follows the launch of the pilot phase of real estate tokenisation — a transformative project designed to reinforce Dubai’s status as a global hub for innovation and investment. The collaboration aims to shape a future-ready regulatory framework that supports the integration of virtual assets into real estate transactions in alignment with the UAE's national vision and leadership directives.

Global First in Property Tokenisation Governance

This agreement marks a global milestone — the first initiative to connect real estate registries with tokenized property assets through an advanced governance model. The initiative seeks to boost liquidity in the market and increase the operational efficiency of property management firms. The signing ceremony was attended by senior officials, including H.E. Marwan bin Ghalita, Director General of DLD, and H.E. Helal Al Marri, Director General of the Department of Economy and Tourism. The agreement was formally signed by Majid Al Marri, Executive Director of Real Estate Registration at DLD, and VARA’s CEO, Matthew White.

Strengthening Legal Structures and Investor Confidence

A key focus of the partnership is the enhancement of legal and regulatory systems to support innovation in the real estate and virtual asset landscape. By improving investor protections and enabling compliance with emerging market demands, the initiative will help open up the Dubai property market to a wider pool of investors, particularly smaller players. This is expected to drive long-term sector sustainability and growth.

Alignment with Dubai’s Long-Term Economic Vision

The collaboration is aligned with the goals of Dubai’s Real Estate Strategy 2033 and the broader Dubai Economic Agenda (D33), which seeks to double the city’s GDP over the next 10 years. A major ambition of this plan is to push real estate transactions beyond the AED 1 trillion mark — a 70% increase in value. This partnership between DLD and VARA plays a vital role in this vision, creating a foundation for innovative real estate models while facilitating regulatory experimentation through pilot projects.

Boosting Digital Infrastructure and Market Education

A significant element of the agreement is its focus on advancing the sector’s digital infrastructure. By doing so, it will ensure that the real estate market remains agile and responsive to investor expectations. Part of the strategy involves educating stakeholders about virtual asset regulations and maintaining alignment with international standards for consumer protection and investment safety.

HE Helal Almarri, DG of DET and DWTCA, commented: “This partnership reflects the future-focused innovation that is Dubai’s DNA – guided by our leadership, it is engrained in the way regulatory and legislative policy makers enable the next stage of economic growth. Real Estate and Virtual Assets are key pillars of the D33 Economic Agenda D33, and by joining forces, DLD and VARA will be creating the blueprint for RE 2.0 in a Decentralised Future Economy. This Collaboration Agreement seeks to champion a future-ready model that can allow for more inclusive economic participation with legal safeguards to recognise fractionalized ownership rights. Beyond assuring market integrity, we see the provision of regulatory clarity as foundational to unlocking sustainable opportunities for GDP expansion – particularly leveraging virtual assets across the full spectrum of Real-World asset sectors.”

His Excellency Eng. Marwan bin Ghalita, Director General of the Dubai Land Department, stated: “This agreement marks a strategic step towards leveraging technological advancements to empower the real estate sector. By strengthening collaboration with technology companies, we aim to position Dubai as a global leader in real estate innovation.”

He added: “Our partnership with the Dubai Virtual Assets Regulatory Authority aligns with the objectives of the Dubai Real Estate Strategy 2033 and the Dubai Economic Agenda D33, which reinforce Dubai’s global leadership in one of the most vital sectors. It also supports the priorities of this strategy, particularly in adopting the latest artificial intelligence technologies, enhancing data centralisation, and providing a seamless investment experience that meets the aspirations of investors and companies while contributing to sustainable economic growth.”

Encouraging Tech Partnerships and Future-Forward Thinking

The agreement also opens the door for technology firms to collaborate with Dubai’s real estate ecosystem, offering opportunities to develop solutions that integrate virtual assets into property transactions. This reinforces Dubai’s long-standing commitment to fostering a tech-enabled, knowledge-based economy and solidifies its role as a global leader in next-generation investment practices.