Dubai Land Department partners with Crypto.com to enable property deals using digital currencies in real estate transactions.
The agreement supports real estate tokenization and aims to create a secure digital platform for investors in Dubai.
Dubai continues to push digital adoption with plans to make most real estate and government transactions fully cashless by 2026.
The Dubai Land Department has signed a cooperation deal with Crypto.com to support digital real estate transactions. The agreement was signed to develop procedures that allow investors to use digital currencies for property sales and purchases. This collaboration aligns with Dubai Real Estate Strategy 2033 and its goal of AED1 trillion transaction.
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The agreement involves the establishment of a digital ecosystem of real estate tokenization, custody, settlement, and identification of investors. Representatives of both entities participated in the signing, which will lead to the digitalisation of real estate procedures in the emirate.
Focus on Blockchain and Smart Investment Tools
The partnership will also facilitate the integration of blockchain technologies and virtual assets to enhance the efficiency of the markets and access to investments. It will also assist in increasing the market liquidity and supporting international investment trends.
Through this initiative, Dubai hopes to offer secure and advanced tools for digital asset trading in real estate. The platform will allow safe custody, digital settlements, and seamless investor verification. These features are expected to attract both local and international investors.
Role of Crypto.com in the Partnership
Crypto.com will provide technological tools to enable digital currency use in real estate transactions. It will also offer advisory support, technical services, and detailed reports to help shape future projects.
The Singapore-based firm will handle documentation and approvals in line with local laws. It will also assist in designing digital payment methods and platforms for the real estate sector.
Meanwhile, the Dubai Land Department will supply administrative and logistical support to carry out the joint plans. The department will also review proposals to ensure compliance with Dubai’s regulations.
Supporting Dubai’s Broader Digital Goals
This agreement supports wider digital transformation goals outlined in Dubai’s economic and real estate strategies. It follows earlier moves to allow government fees to be paid using digital currencies.
Dubai has already begun efforts to make 90% of transactions cashless by 2026. This latest deal fits into that plan by integrating digital payments into one of its largest sectors.
The government is also considering introducing the tools to enable the first time investors to have access to the real estate market. Such initiatives seek to create an inclusive investment ecology that would match worldwide financial changes.
As part of the agreement, both sides will further research on blockchain and tokenization tools to build more digital real estate capacity in Dubai.