ChainCatcher news, according to Cointelegraph, on April 6, the Dubai Land Department (DLD) announced an agreement with the Virtual Asset Regulatory Authority (VARA).

According to the announcement, the agreement will connect Dubai's real estate registration system with real estate tokenization through a governance system. The agreement aims to improve digital infrastructure and attract global investment by enhancing market liquidity and property management efficiency.

At the same time, the agreement also aims to support Dubai's broader economic strategy, which includes the goal of doubling the city's GDP within the next decade. This new development comes after a recent pilot project by DLD aimed at converting real estate assets into blockchain-based digital tokens.