The Department of Land and Real Estate Regulation in Ajman and the “Faisal Financial Technologies Corporation for Digital Dealing” signed an agreement regarding the provision of digital services to the department, the issuance of its sets of non-fungible tokens “NFT”, and the unification of joint efforts between the two parties to serve the audience of customers of all categories.

His Excellency Eng. Omar bin Omair Al Muhairi, Director General of the Department of Land and Real Estate Regulation, said that this agreement comes within the framework of the department’s plans to develop its digital system and enhance the uses of the blockchain by adopting the latest digital innovations which helps to ensure secure, efficient and high-quality services, especially with the increasing demand for encrypted digital assets globally and locally.

Al-Muhairi explained that the Department of Land and Real Estate Regulation seeks to establish an environment that supports innovation in the real estate sector and stimulates business and investments, stressing that for the first time in the real estate field, sets of non-fungible tokens “NFT” were established, which is expected to open new horizons for all dealers in this sector, and provides them with an innovative digital experience based on modern and advanced global technologies.