PANews reported on March 20 that the Dubai Land Department (DLD) launched a pilot project for real estate tokenization to convert real estate assets into blockchain digital tokens. The project was launched in collaboration with the Dubai Future Foundation and the Virtual Asset Regulatory Authority, and is expected to have a market value of more than $16 billion by 2033, accounting for 7% of Dubai's total real estate transactions.

Earlier news, the Dubai Financial Services Authority launched a tokenization regulatory sandbox .