Dubai launches Phase II of real estate tokenisation with first resale market
Nearly 7.8 million real estate tokens approved for resale
DUBAI – The Dubai Land Department (DLD) has launched Phase II of the Real Estate Tokenisation Project, marking a major step in the emirate’s move towards a regulated digital real estate market.
The new phase introduces resale activity in the secondary market, which will begin on February 20. The development signals the project’s transition from an initial pilot into a more advanced operational stage.
The initiative was first introduced in March under the REES Real Estate Innovation Initiative, in collaboration with the Virtual Assets Regulatory Authority (VARA) and a group of strategic partners. During the pilot phase, regulatory, legislative and technical frameworks were tested to support the tokenisation of real estate on official title deeds. This positioned Dubai as the first real estate registration authority in the region to implement such a model within a regulated environment.
Secondary market
Phase II focuses on activating resale activity by allowing real estate tokens to be traded in a controlled secondary market. Approximately 7.8 million real estate tokens will be eligible for resale during this phase. The pilot framework is designed to assess market efficiency, test operational readiness and strengthen transparency and governance across transactions.
The phase also places strong emphasis on investor protection, with safeguards in place to preserve transaction integrity and uphold rights within the emerging tokenised property market. According to DLD, the rollout follows a gradual and data-driven approach, with continuous evaluation of outcomes before any expansion.
Regulatory alignment
DLD confirmed that the implementation of Phase II is being carried out in close coordination with relevant regulatory authorities. The approach ensures full alignment with approved legislative and regulatory frameworks while supporting confidence among both local and international investors. Operational data gathered during this stage will inform future decisions on the project’s scope and scale.
The Real Estate Tokenisation Project supports the objectives of the Dubai Real Estate Sector Strategy 2033, which aims to enhance market balance, improve transparency and enable technology-driven investment models. The strategy seeks to increase the sector’s contribution to Dubai’s GDP while delivering a more integrated investment experience.
Future development
DLD stated that work is ongoing with VARA, along with technical and operational partners, to develop regulatory and technical standards for upcoming phases. Authorities are also studying the expansion of participation and the onboarding of additional platforms in future stages, subject to evaluation and regulatory approval.
The project aligns with the broader objectives of UAE Vision 2071, which focuses on strengthening global competitiveness and building a sustainable, innovation-led economy, with real estate positioned as a key pillar of long-term growth.