“The Dubai Land Department’s Initiative Aims to Expand Access and Transparency for Property Investments Using Blockchain Rails.”, – WRITE: www.coindesk.com
The Initiative Was Developed With The Digital Assets Watchdog Virtual Assets Regulatory Authority (Vara) and Dubai Future Foundation (DF). The Project Aligns with Dubai’s 2033 Real Estate Strategy and Broader Effrts to Strengthen ITS Position as a Global Technology Hub.
The Department Projected That Tokenized Real Estate Could Account for 7% of the City’s Total Property Transactions, Reaching 60 Billion Dirhams ($ 16 Billion) by 2033.
Dubai’s Push Into Real Estate Tokenization Reflects A Growing Trend of Integration Blockchain Into Traditional Markets, PLACING REAL-WORLD Assets (RWA) Like Bods, Funds.
The Digital Token Versions of Rwas Can Be Fractionally Owned and Transferred on the Blockchain, Lowering The Entry Barriers for Investors and IncreASING Market Liquing. Unlike Crowdfunding, Which Pools Investor Funds for Property Purchases, Tokenization Provides A More Structured Ownership Model. However, A McKinsey Tokenization Report Last Year Listed Real Real Estate As One of the Classes that Could Face Slower Grower Growth Tokenization Adoption Due to Operational Hurdles.
Marwan Ahmed Bin Ghalita, Director General of Dld FIRMS TO REFINE The PROJECT BEFORE SCALING IT UP.
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