Summary
- Over 3,000 investors have registered for the Dubai real estate tokenization program, reflecting high public interest in the project.
- The Dubai Land Department predicts that blockchain can solve traditional real estate market problems and that the market will reach a scale of $16 billion by 2033.
- The Dubai real estate tokenization project is implemented on the Ripple Ledger (XRPL) network.
It has been revealed that over 3,000 investors have registered for the Dubai real estate tokenization program.
According to Cryptopolitan on the 25th (local time), Ahmed AlBuraey, a senior official at the Dubai Land Department (DLD), announced this via LinkedIn, reflecting the high public interest in the project. The tokenization project, which began on March 16, allows investors to own fractional shares by tokenizing government-owned real estate.
The Dubai Land Department stated, "Blockchain can solve the problems of the traditional real estate market," and projected that Dubai's tokenized real estate market will reach a scale of $16 billion by 2033.
Meanwhile, the Dubai real estate tokenization project is implemented on the Ripple Ledger (XRPL) network.
Son Min
sonmin@bloomingbit.ioHello I’m Son Min, a journalist at BloomingBit
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