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Dubai Real Estate Hits $18B Sales Record Amid Growing #Tokenization Push

Dubai's property market reached $18.2 billion in sales across 18,700 transactions during May.

The figures represent a 44% year-on-year surge in transaction value and a 6% rise in sales volume.

Primary sales spiked 314% compared to May 2024, while secondary sales climbed 21%.

Real estate #tokenization platforms see the record performance as a signal that Dubai is ready for property innovation.

Tokinvest CEO Scott Thiel called the 60-billion-dirham monthly volume "a strong signal the market is liquid, dynamic and ready for innovation."

The surge coincided with major regulatory developments, including VARA's updated RWA tokenization guidelines on May 19.

Dubai Land Department launched a tokenized real estate platform allowing investors to buy fractional shares in ready-to-own properties.

MultiBank Group, MAG, and Mavryk signed a $3 billion RWA agreement, bringing luxury projects onto blockchain.

  cointelegraph.com/news/dubai-r...