{"id":130017,"date":"2025-05-26T22:15:40","date_gmt":"2025-05-26T22:15:40","guid":{"rendered":"http:\/\/cryptospotters.net\/?p=130017"},"modified":"2025-05-26T22:15:40","modified_gmt":"2025-05-26T22:15:40","slug":"dubai-launches-first-licensed-tokenized-real-estate-project-in-mena-region","status":"publish","type":"post","link":"http:\/\/cryptospotters.net\/?p=130017","title":{"rendered":"Dubai launches first licensed tokenized real estate project in MENA region"},"content":{"rendered":"<p>Source: Cointelegraph.com NewsDubai 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\u2019s burgeoning crypto hubs.<br \/>\nPartners 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 \u201cPrypco Mint\u201d platform, with Zand Digital Bank appointed as the bank for the project\u2019s pilot phase.<br \/>\nOn May 19, Dubai\u2019s Virtual Assets Regulatory Authority (VARA) updated its rules to include real-world asset (RWA) tokenization, allowing such tokens to be traded on secondary markets.<br \/>\nRelated: UAE saw 41% increase in crypto app downloads in 2024 \u2014 AppsFlyer<br \/>\nThe project will allow individual investors to buy tokenized shares in \u201cready-to-own properties in Dubai,\u201d with investments starting at 2,000 Emirate dirham ($545). During the pilot phase, all transactions will be carried out in the dirham (AED), with no cryptocurrency to be used. Although the pilot program will be limited to those with UAE ID holders, there are plans to expand it globally.<br \/>\nIn April, the DLD and VARA agreed to link Dubai\u2019s real estate registry with the tokenization of property. The stated goal was to attract global investors and enhance liquidity in Dubai\u2019s real estate market. The project was initially announced in March.<br \/>\nA sought-after destination for crypto entrepreneurs, the United Arab Emirates is positioning itself as a crypto hub. In May, Dubai, an emirate within the country, partnered with Crypto.com to help facilitate crypto payments for government services.<br \/>\nRelated: Dubai crypto regulator grants VASP license to RWA-friendly L1 blockchain<br \/>\nReal estate tokenization market may reach $19.4B by 2033<br \/>\nReal estate is one of many areas of RWA tokenization that is poised for a breakthrough over the next few years. It fulfills some key promises of blockchain technology, providing liquidity to relatively illiquid assets and granting greater accessibility to retail investors.<br \/>\nAccording to Custom Market Insights, the global real estate tokenization market is expected to reach a $19.4 billion market cap by 2033, growing at a compound annual rate of 21%. All three types of real estate \u2014 residential, commercial, and industrial \u2014 will play a role.<br \/>\nGlobal real estate tokenization market over time. Source: Custom Market InsightsSome of the companies that specialize in tokenizing real estate include RealT and Metlabs. However, many others have struggled in their efforts, largely due to the complexities of navigating regulatory requirements.<br \/>\nMagazine: TradFi is building Ethereum L2s to tokenize trillions in RWAs \u2014 Inside story<a href=\"https:\/\/cointelegraph.com\/news\/dubai-launches-first-licensed-tokenized-real-estate-project-in-mena-region?utm_source=rss_feed&amp;utm_medium=rss&amp;utm_campaign=rss_partner_inbound\" target=\"_blank\" class=\"feedzy-rss-link-icon\" rel=\"noopener\">Read More<\/a><\/p>","protected":false},"excerpt":{"rendered":"<p>Source: Cointelegraph.com NewsDubai 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&hellip; <\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[5],"tags":[],"_links":{"self":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/130017"}],"collection":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=130017"}],"version-history":[{"count":0,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/130017\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=130017"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=130017"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=130017"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}