Dubai Land Department and the Dubai Virtual Assets Regulatory Authority collaborate to improve leadership in the real estate sector and the regulation of virtual assets
• The first signed agreement of its kind globally to link the registration of properties with the tokenization of property through a system of government that improves market liquefiness and improves the efficiency of property management partners.
• The collaboration follows the launch of the pilot phase of the real estate tokenization project by DLD, with the aim of strengthening Dubai’s position as a regional and global center for virtual assets.
• Collaboration contributions to achieve the strategic objectives of Dubai for the real estate sector and supports the economic agenda of Dubai (D33).
After the launch of the Pilot Phase of the ‘Real Estate Tokenization’, one of the initiatives under the umbrella of the ‘Real Estate Innovation initiative of Rees’, the Dubai Land Department (DLD) and the regulatory position of engagement of Dubai’s virtual assets as a leading center for investment and innovation in the real estate sector. This agreement seeks to improve the regulatory environment related to virtual assets in real estate transactions with the strategic directives of the EAU and the vision of its wise leadership to position Dubai as a global center for innovation and investment.
This pioneer agreement, the first of its kind at a global scale to link the real estate registration with the tokenization of property through a system of government that improves market liquidity and improves the efficiency of property management companies, was signed in the presence of its excellence Marwan Bin Ghalita, general director of the Dubai land department, and their helal excellence to the Marri, general director of the Department of Economics of Dubai and Tourism tourism. The agreement was also signed by Majid Al Marri, executive director of the Real Estate Registry sector in DLD, and Matthew White, CEO of Vara.
Empower real estate sector and the integration of virtual assets
The agreement aims to improve the legal frameworks and regulations to maintain the rhythm of future developments, ensuring the rights of investors and compliance with the evolution requirements in the Panorama of Investments and Real Estate of Dubai. In addition, it focuses on increasing investment opportunities and optimizing access to the real estate market of Dubai for small investors, thus contributing to the growth and sustainability of the sector.
This initiative is aligned with Dubai’s commitment to promote an advanced investment environment, guarantee regulatory compliance and safeguard the rights of investors under jurisdiction in collaboration with Vara.
Support the strategic objectives of Dubai and the D33 agenda
The collaboration is expected to play an important role in achieving the objectives of the real estate strategy 2033 of Dubai and the broader economic agenda of Dubai (D33). The agreement is aligned with the objective of D33 to double Dubai’s GDP during the next decade, with the real estate sector contributing to reach 1 billion AED transactions, which grows by 70% in value.
As Dubai experiences a growing demand for innovative real estate solutions, this agreement serves as a framework to coordinate efforts between DLD and rod to strengthen Dubai’s position as a main investment destination. It will also facilitate pilot projects that evaluate and manage the risks while allowing the integration of virtual assets in the real estate sector to maximize economic benefits.
Advance of digital infrastructure and investor awareness
The agreement also emphasizes the improvement of digital infrastructure in the real estate sector to meet the needs of investors. It includes initiatives to increase awareness and understanding of virtual asset regulations while guaranteeing alignment with global best practices for consumer protection and investment security.
In addition, collaboration encourages cooperation with technology companies interested in contributing to the development of the real estate sector of Dubai through the integration of virtual assets.
Leadership ideas
HEALAL ALPARRI, 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 makers Stage Andable and Andable Table Andable Andable Andable Andable Andable Andable Andable Andable Andable Andable Andable Andable Andable Andable Andable Andable Andable Andable Andable In the next Andable Stage Andable Andable Andable Andable Ybleable The next stage.
This collaboration agreement seeks to defend a model ready for the future that can allow a more inclusive economic participation, with legal safeguards to recognize fractional property rights. Beyond ensuring the integrity of the market, we see the provision of regulatory clarity as fundamental to unlock sustainable opportunities for the expansion of the GDP of virtual assets of the GDP of the spectrum of the real world asset sections. “
His excellence Eng. Marwan Bin Ghalita, General Director of the Dubai Land Department, declared: “This agreement marks a strategic step towards technological advances to take advantage of technological advances to empower the real estate sector.
He added: “Our Association with the Dubai Virtual Assets Regulatory Authority is aligned with the objectives of the Dubai Real Estate Strategy 2033 and the economic agenda of Dubai D33, which reinforces the global leadership of Dubai in one of the most vital sectors. Particular in the adoption of the latest artifice The organization, and provide the experience of the organization of data without problems, which meet the experience of the investments and companies of intelligence of winters and intelligence companies, intelligence companies, improve investments.
Commitment to an investment environment ready for the future
The collaboration underlines Dubai’s commitment to fantasizing with a diverse and advanced investment ecosystem that improves the competitiveness of the real estate sector. It also reinforces the Emirate’s leadership vision of building a future knowledge driving economy, based on technology.
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