Dubai Land Department Signs MoC with Crypto.com to Explore Digitization of Real Estate

On July 6, the Dubai Land Department (DLD) signed a memorandum of cooperation (MoC) with Crypto.com. The MoC aims to develop a digital investment environment for virtual real estate assets in Dubai and explore how blockchain technologies and digital currencies can contribute to the sector.

His Excellency Omar Hamad BuShehab, Director General of the Dubai Land Department, and Mohamed Abdul Latif Al Hakim, the authorized signatory for Crypto.com signed the MoC, in the presence of several officials and CEOs from both sides.

Under the collaboration, Crypto.com will

• Propose technological solutions to integrate digital currencies in the real estate sector
• Provide technical support and advisory services
• Deliver analytical tools and reports for digital projects

For any approved proposals, Crypto.com will also supply technical and legal documentation and obtain the necessary approvals from relevant authorities, aligning with the regulations in Dubai.

Meanwhile, the Dubai Land Department (DLD) will

• Explore Crypto.com’s proposed platforms and solutions in areas such as real estate tokenization and digital assets trading
• Provide necessary administrative and logistical support to implement joint projects
• Evaluate proposals based on its approved regulatory frameworks

The DLD will also ensure the presence of all relevant legal and legislative requirements to guarantee compliance with Dubai’s regulations.

In an official statement, the Government of Dubai Media Office stated that aside from the aforemention solutions, the collaboration also aims explore the potential use of digital currencies in property transactions.

“The initiative seeks to enhance market liquidity and align with modern trends in smart investment. The partnership also aspires to build an integrated digital ecosystem that enables real estate asset trading, investor verification, and the execution of digital custody and settlement processes within a secure and advanced framework.”

“This collaboration,” the media office continued, “reflects the Department’s commitment to aligning with the leadership’s strategic vision to make Dubai the best city in the world to live, work, and invest in. It also supports the objectives of the Dubai Economic Agenda D33, which focuses on providing an ideal investment environment that strengthens Dubai’s economy through innovative approaches that drive sustainable growth.”

Unlocking a New Horizon For Dubai Real Estate

The collaboration also complements Dubai's Real Estate Strategy 2033, which seeks to create a smart, sustainable, and knowledge-driven real estate ecosystem. By embracing advanced technologies, Dubai is increasing its appeal to high-quality investors and moving closer to its AED1 trillion real estate transaction target for 2033.

Dubai has steadily been accelerating the adoption of digital currencies as it works to regulate the sector. In October 2024, officials revealed a strategy hoping to make 90% of all transactions cashless by 2026. Then in March, Dubai launched the pilot phase of its real estate tokenization project, aimed to convert real estate assets into digital tokens recorded on the blockchain.

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