July 7, 2025 @ 5:05 am By Michael Wong

The Dubai Land Department (DLD) has signed a memorandum of cooperation with global cryptocurrency platform Crypto.com to develop a digital investment environment for virtual real estate assets, according to an announcement.

The deal is part of the emirate’s ongoing strategy to accelerate digital transformation and position itself as a leading global hub for smart property investment and blockchain innovation.

The agreement is in line with the Dubai Government’s broader agenda to integrate cutting-edge technologies into public services and economic sectors.

It follows a recent announcement enabling the payment of government fees using digital currencies, marking a major step in enhancing the emirate’s digital infrastructure and financial inclusivity.

Signed by DLD Director General Omar Hamad BuShehab and Crypto.com’s authorised signatory, Mohamed Abdul Latif Al Hakim, the memorandum sets the stage for a comprehensive collaboration on blockchain-based property transactions, real estate tokenisation, and the use of digital currencies in real estate settlements.

The ceremony was attended by senior officials and CEOs from both organisations.

The initiative supports the Dubai Real Estate Strategy 2033, which aims to build a smart, sustainable, and knowledge-driven property market with AED 1 trillion in transactions by 2033.

By enabling real estate transactions through virtual assets and decentralized platforms, the partnership seeks to enhance market liquidity, boost investor confidence, and create new opportunities for international investment.

Crypto.com will propose and develop blockchain-based technological solutions, including platforms that facilitate asset tokenisation and secure digital custody, while also providing technical support, advisory services, and data analytics to support informed decision-making.

DLD, for its part, will assess the feasibility and compliance of proposed projects, provide regulatory guidance, and facilitate implementation within the emirate’s legal and logistical framework.

Both parties emphasized that this initiative aligns with the Dubai Economic Agenda D33, which aims to double the size of Dubai’s economy over the next decade through innovation and global partnerships.

By combining blockchain technology, digital payments, and real estate investment, the collaboration aims to create an advanced digital marketplace that will reinforce Dubai’s position as a trailblazer in the global smart city landscape.

With increasing global interest in virtual real estate and digital asset integration, Dubai’s proactive regulatory approach offers a model for other jurisdictions.

The partnership is expected to unlock new investment channels for tech-savvy and international investors, and provide a scalable framework for future collaborations in the evolving digital economy.