United Arab Emirates
Dubai is one of the world’s most important real-world tests of property tokenization because the Dubai Land Department itself participates in the architecture.
The Dubai Model
Dubai Land Department launched its Real Estate Tokenisation Project in 2025 to test the regulatory, legislative and technical framework for tokenization connected to title deeds.
In February 2026, DLD moved the project into Phase II, enabling the resale of approximately 7.8 million real-estate tokens within a controlled pilot framework designed to evaluate market efficiency, operational readiness, governance and investor protection.
DLD has stated that real-estate tokenization could represent AED 60 billion in property transactions by 2033, equivalent to approximately 7% of projected Dubai real-estate transactions.
Source: Dubai Land Department.
Resale enabled within a supervised pilot framework — not unrestricted production trading.
Tokens from the initial pilot now eligible for resale within the framework.
Approximately 7% of projected Dubai real-estate transactions.
Why Dubai Matters
Dubai demonstrates something fundamentally different from simply placing an SPV or fund interest on blockchain. That provides an important real-world test of the central Digital Property Infrastructure™ thesis.
Our Strategy
Dubai is MeridianSquare’s initial regulated market for CubeSquare. Our objective is to develop infrastructure capable of supporting:
Where activities fall within VARA’s jurisdiction, they will be conducted subject to applicable licences, approvals and licensed counterparties.
Under VARA’s current ARVA framework, ARVA issuance is a Category 1 VA Issuance activity, and licensed Category 1 issuers must obtain VARA approval before issuing each ARVA.
Source: VARA ARVA Rules.
Proving Ground
Dubai is MeridianSquare’s intended initial regulated market for validating parts of the CubeSquare architecture. Its importance extends beyond market size.
Dubai provides a real-world environment in which property regulation, government registry infrastructure and virtual-asset regulation intersect. That makes it an important proving ground for the broader Digital Property Infrastructure™ thesis.
MeridianSquare’s long-term architecture is global and jurisdiction-configurable; it is not dependent on one market adopting one model.
