Dubai is pioneering real estate tokenization with a regulated, blockchain-based framework that democratizes property investment, enabling global retail investors to buy fractional shares in prime properties. Opinion by: Irina Heaver, crypto lawyer The crypto markets are undergoing a hard reset. The speculative hype of 2021 is now a thing of the past. Memecoins and DeFi derivatives no longer move markets like they used to. Investors are no longer chasing vapor; they are looking for substance. They want tangible assets, real returns and real infrastructure. This is precisely where real-world assets (RWAs) come into play. Read more
Dubai’s property market hit $18.2 billion in sales in May alongside growing tokenization momentum, new regulations and a record $3 billion real estate blockchain deal. Dubai’s real estate market surged in May, posting record sales volumes and transaction values that signal growing investor confidence and potential readiness for property tokenization. According to data shared in a press release with Cointelegraph by real estate platform Property Finder, Dubai’s real estate sector reached a total sales value of 66.8 billion dirhams (about $18.2 billion) across 18,700 transactions in May. The figures indicate a 44% year-on-year surge in transaction value and a 6% rise in sales volume. The growth was driven by both primary and secondary market activity. Primary sales saw a 314% spike in value compared to May 2024, while secondary sales rose 21% in value. Read more
The project expands on the Dubai Land Department’s other RWA tokenization initiatives, including one involving the real estate registry. Dubai has launched the first licensed tokenized real estate project in the Middle East and North Africa (MENA) region, previewing appetite for real-world tokenization in one of the world’s burgeoning crypto hubs. Partners in the project include the Dubai Land Department (DLD), the Central Bank of the United Arab Emirates, and the Dubai Future Foundation, according to an announcement from the Dubai government. The tokens will be tradeable on the newly launched “Prypco Mint” platform, with Zand Digital Bank appointed as the bank for the project’s pilot phase. On May 19, Dubai’s Virtual Assets Regulatory Authority (VARA) updated its rules to include real-world asset (RWA) tokenization, allowing such tokens to be traded on secondary markets. Read more
UAE-based lawyer Irina Heaver told Cointelegraph that the new rules allow issuing and listing RWAs on secondary markets. Newly updated guidelines from Dubai’s crypto regulator include provisions on real-world asset (RWA) tokenization and clarify rules for issuers. On May 19, Dubai’s Virtual Asset Regulatory Authority (VARA) released its updated Rulebook for virtual asset service providers (VASPs) operating in the region. The regulator gave market participants until June 19 to comply with the new rules. The regulator previously told Cointelegraph that it had enhanced supervisory mechanisms and brought consistency across activity-based rules. One of the more prominent changes includes regulatory clarity on RWA tokens. Read more