Dubai’s real estate market soared in May, releasing record sales and transaction value, indicating investor confidence and potential ready for property tokens.
Dubai’s real estate industry reached a total sales value of AED 66.8 billion (about USD 18.2 billion) in 18,700 transactions in May, according to data shared in the press release by Real Estate Platform Property Finder. These figures indicate that transaction value increased by 44% year-on-year and sales volume increased by 6%.
Growth is driven by primary and secondary market activities. Compared to May 2024, junior sales were worth 314%, while middle school sales increased by 21%.
Driven by the acceleration of the acceleration of real estate tokenization, this performance opened up the market for more investors and reshaped the dynamics of property ownership.
Dubai’s real estate market performance signal token ready
Scott Thiel, co-founder and CEO of Real-World Assets (RWA) token platform Tokinvest, told Cointelegraph that the record performance of the Dubai property market has put the city in ready for real estate innovations like Sokenization.
“It strengthens what we already know that Dubai is becoming one of the most active and attractive property markets in the world,” Thiel told Cointelegraph. “When you see Dh60 billion in deals in a month, it’s a strong signal that the market is liquid, dynamic and ready to innovate.”
The executives added that real estate domination is no longer a futuristic concept, but an active development. Thiel added that the volume provides a perfect launch pad for fractionalization – properties divided in smaller, affordable stocks to meet investor needs locally and internationally.
Thiel added that symbolization will not only follow market growth, but will also help accelerate it. “The symbolism is not only accompanied by the next record, we believe it will help push it,” he said.
Related: Dubai regulator green light Repool’s rlusd stablecoin
Return to the regulator of token assets
Dubai’s real estate boom in May coincides with major regulatory and industry developments in a modern way to sell real estate.
Multibank Group in Dubai, real estate giant MAG and blockchain provider Mavryk Signed $3 billion in RWA deal. The deal will use the regulated RWA market to bring MAG’s luxury real estate projects to the blockchain.
On May 19, Dubai’s crypto regulator, Virtual Assets Regulator (VARA), Updated guide Including the provisions for tokenization of actual assets (RWA). Attorney Irina Heaver tells Cointelegraph that these rules provide clear paths for issuers Start and trade tokens for real estate assets.
May 25, Dubai Land Department (DLD), Central Bank of the United Arab Emirates and Dubai Future Foundation Started a token real estate project in the Middle East and North Africa. Government agencies have launched a platform that allows investors to buy tokenized stocks in “Dubai ready-made real estate.”
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