Dubai Land Department and Crypto.com Join Forces to Transform Real Estate Investment with Blockchain
In a strategic push toward digitizing real estate transactions, the Dubai Land Department (DLD) has signed a partnership agreement with Crypto.com to create a secure, blockchain-based framework for buying, selling, and tokenising real estate assets using digital currencies.
This collaboration marks a significant step toward the goals outlined in the Dubai Real Estate Strategy 2033, which aims to reach Dh1 trillion ($272 billion) in transactions by the end of the decade.
Blockchain-Driven Real Estate Investment
Signed by Omar BuShahab, Director General of DLD, and Mohamed Al Hakim, authorised signatory of Crypto.com, the agreement will establish a digital ecosystem supporting:
- Investor verification
- Real estate asset tokenisation
- Secure custody and settlement
- Seamless property transactions using cryptocurrencies
The announcement was made in the presence of officials from both organizations, as shared by the Dubai Media Office.
“By embracing advanced technologies, Dubai is strengthening its attractiveness for high-quality investments and accelerating its progress towards its Dh1 trillion real estate transactions target for 2033,” the statement said.
Creating a New Investment Framework
The collaboration is set to leverage blockchain technology and virtual assets to enhance market liquidity and offer a smarter, more transparent investment process. The goal is to build an integrated digital ecosystem that simplifies how investors buy and sell real estate in Dubai, with improved transparency, efficiency, and security.
Crypto.com, based in Singapore, will take the lead in proposing technological solutions, enabling the use of digital currencies within real estate transactions. This includes technical support, legal documentation, data analytics, and coordination with local authorities to meet all regulatory requirements.
Dubai’s Vision: A Cashless and Digital-First Economy
This partnership aligns with Dubai’s broader initiatives to integrate digital payments and cryptocurrency into public services. The emirate is targeting 90% cashless transactions by 2026 as part of its Dubai Cashless Strategy.
In support of this goal, DLD is also working on enabling government fee payments through digital currencies, creating a fully digitized and accessible investment journey.
Additionally, this agreement builds upon Dubai’s Real Estate Tokenisation Project, launched in March, which began converting physical real estate assets into digital tokens recorded on blockchain.
Opening the Market to First-Time and Retail Investors
Dubai Land Department has also announced a new initiative to help first-time investors enter the property market through developer-bank partnerships, making real estate more accessible for smaller-scale buyers.
With digital currencies now being integrated, the market becomes even more appealing to retail investors who previously had limited options in traditional real estate.
Crypto’s role in real estate continues to gain traction globally. Notably, Eric Trump recently confirmed that the Trump International Hotel and Tower project in Dubai will accept cryptocurrency investments, calling digital currencies “the financial mechanism of the future.”
Source: The National News
