Dubai Launches Secondary Trading for 7.8 Million Property Tokens
- The Dubai Land Department (DLD) has initiated the second phase of its Real Estate Tokenization Project, starting secondary-market trading of approximately 7.8 million property tokens on February 20.
- This phase transitions the project from pilot to operational, focusing on market efficiency and investor safeguards under regulatory oversight.
- The initiative was developed with the Virtual Assets Regulatory Authority and other government bodies, including the Dubai Future Foundation and the Central Bank of the UAE.
- Tokens represent fractional stakes in registered properties, denominated in UAE dirhams, maintaining transactions within the conventional financial system.
- The project supports Dubai’s Real Estate Sector Strategy 2033 and Urban Plan 2040 by enhancing transparency and adopting digital tools to attract global capital.
The DLD’s launch of secondary trading for property tokens marks a significant step toward integrating digital tools into real estate, aligning with broader economic strategies like the Dubai Real Estate Sector Strategy 2033.
Source (3.2)https://cryptobriefing.com/dubai-real-estate-tokenization-phase-two/?rand=59535
