The DLD expects the initiative to drive growth in real estate investment, aiming to reach a value of over $16 billion by 2033. Scott Thiel, the co-founder and CEO of real-word asset (RWA) tokenization platform Tokinvest, told Cointelegraph that the new development shows a clear message from the UAE government: “In just three weeks, Dubai has gone from pilot launch to strategic execution and the message is loud and clear: the future of real estate investment is onchain.”Thiel also said that the two agencies working hand in hand will create a smarter model that opens Dubai's real estate market to a global pool of investors.“This isn’t just another MOU.
Related: Mantra and Damac sign $1B deal to tokenize Middle Eastern assetsNew real estate model opens up Dubai’s market to global investorsThe new development follows the DLD’s recent project pilot to convert real estate assets into blockchain-based digital tokens. On March 20, the DLD announced the pilot phase of its real-estate tokenization project.
According to the announcement, the agreement will link Dubai’s real estate registry with property tokenization through a governance system. The agreement aims to improve digital infrastructure and attract global investment by enhancing market liquidity and property management efficiency.
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Author / Journalist: Cointelegraph by Ezra Reguerra
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