TechFlow news, on June 8, according to Cointelegraph, Dubai's real estate market set a record in May with total sales reaching 66.8 billion AED (approximately 18.2 billion USD) and transaction volume hitting 18,700 deals, representing year-on-year growth of 44% and 6% respectively.
Data from real estate platform Property Finder showed primary market sales surged 314% compared to May 2024, while secondary market sales increased by 21%. Scott Thiel, CEO of RWA tokenization platform Tokinvest, said the performance indicates Dubai is ready to embrace innovation in real estate tokenization.
In May, Dubai regulators actively advanced real estate tokenization: MultiBank Group, MAG, and Mavryk signed a 3-billion-USD RWA agreement; Dubai's Virtual Assets Regulatory Authority (VARA) updated its guidelines to include RWA tokenization; and the Dubai Land Department, UAE Central Bank, and Dubai Future Foundation jointly launched the first licensed real estate tokenization project in the MENA region.
