Dubai government agencies have linked real estate registration to the tokenization of real estate. According to Cointelegraph, on April 6, the Dubai Land Department (DLD) announced an agreement with the Virtual Assets Regulatory Authority (VARA). According to this announcement, the agreement will connect Dubai's real estate registration system with real estate tokenization through a governance system. The aim of this agreement is to enhance digital infrastructure and attract global investment by increasing market liquidity and property management efficiency. Additionally, this agreement supports Dubai's broader economic strategy, which includes the goal of doubling the city's GDP over the next decade. This new development follows DLD's recent pilot project aimed at converting real estate assets into blockchain-based digital tokens.
