On 9 February 2026, the Dubai Land Department (DLD) officially announced the launch of Phase II of its Real Estate Tokenisation project. The core objective of this stage is the transition from a pilot model to the creation of a regulated secondary market, where tokenised ownership interests in real estate can be resold within an approved infrastructure. Although the phase was formally launched on this date, active secondary trading will begin on 20 February.

🪙According to official statements from DLD, Phase II is specifically designed to enable the resale of tokenised real estate assets under regulatory supervision. The project is being implemented in a controlled format in order to test the resilience of the model, the readiness of the infrastructure, and actual investor demand.

🏢Tokenisation itself implies that a real estate asset is divided into ownership shares that can be purchased by investors even with relatively small initial capital. This approach is particularly relevant for the Dubai property market, where the average property price ranges from approximately USD 817,000 to USD 925,000. If such an asset is divided, for example, into 1000 tokens, the price of a single token would fall within a range of USD 8170 to USD 9250, making this form of investment accessible to a significantly broader group of investors.

⚠️At the same time, it is important to recognise that the current phase remains a pilot stage. As a result, liquidity at the initial stage may be limited. Within this phase, approximately 7.8 million tokens linked to real real estate assets are planned to be admitted for circulation.

To participate in the programme, developers, owners of large real estate portfolios, or authorised platform operators select properties that are registered within the DLD system and have a clean legal title, free from encumbrances, disputes, or non-transparent structures.

These participants also propose the ownership structure, including the number of tokens, based on the value of the underlying asset. The Dubai Land Department acts as the final approving authority by confirming the eligibility of the property for the programme and formally linking the tokens to the underlying real estate. The department also ensures that any resale of tokens takes place strictly through the approved and regulated infrastructure.