From Cointelegraph.com

June 8, 2025 4:25 am:

Dubai’s real estate market saw record sales in May, totaling 66.8 billion dirhams across 18,700 transactions, signaling growing investor confidence and readiness for property tokenization. Primary sales spiked 314% while secondary sales rose 21%, driven by the push into real estate tokenization. Scott Thiel of Tokinvest sees Dubai as a global real estate hub ready for innovation like tokenization.

Regulatory and industry developments in Dubai are modernizing property transactions. MultiBank Group, MAG, and Mavryk signed a $3 billion RWA agreement to bring luxury real estate projects to the blockchain. Dubai’s crypto regulator, VARA, updated guidelines to include provisions for RWA tokenization, providing clarity for issuers and exchanges. The Dubai Land Department, Central Bank, and Dubai Future Foundation launched the first licensed tokenized real estate project in the MENA region, allowing investors to buy tokenized shares in Dubai properties.

Read more at Cointelegraph: Dubai Real Estate Hits $18.2B in Sales Amid Tokenization Push