Key takeaways
- Dubai Land Department signed MoC with Crypto.com to test blockchain and digital asset use in property transactions.
- The partnership explores tokenisation, investor verification, and digital custody within Dubai’s real estate sector.
- The initiative supports Dubai’s Real Estate Strategy 2033 and aligns with efforts to integrate virtual assets into public services.
- Dubai’s blockchain push extends beyond real estate, with active pilots in retail payments and large-scale tokenisation initiatives.
Dubai’s Land Department has signed a memorandum of cooperation with Crypto.com to test blockchain-based processes and the use of digital assets in property transactions, marking a new step in the emirate’s push to embed virtual assets into its economic infrastructure.
The agreement, announced Sunday, forms part of Dubai’s broader initiative to integrate digital currencies and blockchain technology into public services, and aligns with ongoing efforts to modernize real estate investment under the Dubai Real Estate Strategy 2033.
According to the official announcement, the deal will see both entities explore tokenisation of real estate assets, use of blockchain for transaction settlement, and mechanisms to verify investors digitally.
Dubai authorities have positioned the project as a step toward building a digital investment environment aligned with the city’s Real Estate Strategy 2033, which targets AED1 trillion ($272 billion) in transactions by 2033.
The partnership also aligns with the Dubai Economic Agenda D33, which aims to create a competitive investment environment and drive sustainable economic growth through innovation.
Under the agreement, Crypto.com will propose technology solutions to support the use of digital assets in real estate, and provide technical expertise, advisory support, and analytical tools to assist in project planning and evaluation.
Meanwhile, Dubai Land Department will assess these proposals within the existing regulatory framework and offer administrative and logistical support to facilitate implementation. The Department has also committed to ensuring that the necessary legal provisions are in place to support compliance and secure integration of blockchain applications in the property sector.
From Fuel to Real Estate: Dubai Deepens Blockchain Adoption
Dubai’s expansion into blockchain infrastructure has gained pace through a series of tokenisation and digital payment initiatives.
The Dubai Land Department’s agreement with Crypto.com comes shortly after Emirates Petroleum Company PJSC (Emarat) announced a separate collaboration with the digital asset platform to enable cryptocurrency payments at select fuel stations. Under the pilot initiative, customers can pay for fuel and services using digital assets at ten Emarat locations across Dubai.
Additionally, the Dubai Land Department, in collaboration with VARA and the Dubai Future Foundation, launched Prypco Mint, the region’s first licensed real estate tokenisation platform, which aims to support the goal of tokenising 7 percent of Dubai’s property market, estimated at 16 billion dollars, by 2033.
In May, the platform issued the world’s first blockchain-based Property Token Ownership Certificate, attracting 224 investors within 24 hours, 70% of whom were new to Dubai’s real estate sector.
These initiatives highlight Dubai’s broader push to position itself as a hub for emerging technologies and reflect the growing institutional recognition of blockchain’s potential across real estate, finance, and public services.
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