Dubai Land Department launches the second phase of the real estate coding project

The Dubai Land Department announced the launch of the second phase of the real estate tokenization project, marking the start of resale in the secondary market as of February 20, in a strategic step that reflects the project’s transition from the experimental framework to a more advanced operational stage, within a regulated model that enhances the readiness of the real estate market for the future of investment based on advanced technologies.

This phase comes as a continuation of the experimental phase that the department launched last March as part of the “Reiss Real Estate Innovation” initiative, in cooperation with the Virtual Assets Regulatory Authority and strategic partners, during which the regulatory, legislative and technical structure for real estate coding on title deeds was tested, which established Dubai’s position as the first real estate registration authority in the region to adopt this innovative model within a controlled regulatory environment.

The second phase focuses on activating resale in the secondary market, by allowing the resale of approximately 7.8 million real estate tokens, within a controlled experimental scope, which aims to measure the efficiency of market mechanisms, test the readiness of operational systems, and enhance transparency and governance of operations, in a way that protects the rights of investors and ensures the safety of transactions.

A deliberate transitional stage towards expanding the market

The department confirmed that the implementation of this stage is taking place according to a gradual approach based on practical evaluation of the results, and in close coordination with the relevant regulatory authorities, in preparation for making future decisions based on clear operational data, ensuring the model’s compatibility with the approved regulatory and legislative frameworks, and enhancing the confidence of local and international investors.

Strategic harmony with national agendas

The real estate coding project comes as one of the main enablers to achieve the goals of the Dubai Real Estate Sector Strategy 2033, which focuses on enhancing market balance, raising levels of transparency, enabling technology, and providing an integrated investment experience, which contributes to increasing the real estate sector’s contribution to the gross domestic product, and consolidating Dubai’s position as a leading global center for real estate investment, and in line with the goals of the UAE Vision 2071 aimed at consolidating global leadership and building a sustainable future economic system.

The project also intersects with the Dubai Urban Plan 2040, which places people and quality of life at the heart of urban development, by supporting smart and sustainable urban models, enhancing land use efficiency, and adopting digital solutions that contribute to managing the emirate’s rapid urban growth and keeping pace with its future population and urban expansion.

Towards an integrated digital real estate system

The Land Department confirmed the continuation of work with the Virtual Assets Regulatory Authority and technical and operational partners to develop regulatory and technical standards for the next stages, while studying the expansion of the scope of participation and the availability of additional platforms in the future, according to a gradual approach subject to evaluation and necessary regulatory approvals.

The department concluded by emphasizing that the real estate coding project is a long-term strategic initiative that reflects Dubai’s vision of building a smart and sustainable real estate economy, enhancing the emirate’s global competitiveness, and consolidating its position as a global laboratory for advanced real estate technologies.