- Dubai aims to digitize 7% of its $16 billion property real estate market by 2033.
- Real estate tokenization is expected to remove barriers and attract more local and global investors.
The Dubai Land Department (DLD) has announced its partnership with Crypto.com under a Memorandum of Cooperation (MoC) to digitize the real estate sector. The initiative is in line with Dubai’s strategic Real Estate Strategy 2033 and the Economic Agenda D33, which aims to tokenize up to 7% of the $16 billion property market..
As per the MoC, the collaboration will simplify property buying and selling, enhance liquidity, and transparency through blockchain-based token ownership certifications. These licenses will be fully integrated within the government registries.
Crypto.com is set to play a key role in supporting this digital investment ecosystem by providing technical support and consulting services for real estate digitization and crypto transactions. In parallel, the Dubai Land Department is expected to offer any logistical and administrative support required.
See Related: Dubai Launches Middle-East’s First XRP-Based Property Tokenization
Real Estate Rewired: Will Tokenization Affect Traditional Property Investors?
According to Marwan Ahmed Bin Ghalita, General Director of Dubai Land Department, the real estate tokenization is an advanced solution that will be beneficial to all property investors.
He said in a statement, “Amid rapid technological advancements and the increasing reliance on digital solutions, real estate tokenization emerges as a revolutionary tool driving fundamental change in the real estate sector.”
In his message, Dubai real estate digitization is expected to transform how all real estate investors engage with high-value assets. The change will benefit new and traditional investors, offering liquidity, fractional ownership, and lower entry costs.
Unlike conventional investments that require a minimum investment of $250,000, tokenization reduces the entry amount to as low as $1,000. The move is projected to attract more real estate investors, broadening the investor base significantly.
