DroppRWA, a sister company of the Web3 technology provider DroppGroup, has teamed up with Saudi Arabia’s real estate developer RAFAL Real Estate Co. to execute the kingdom’s first-ever real-world asset (RWA) tokenization transaction. This initiative represents a significant turning point, as the RAFAL pilot will serve as a national feasibility benchmark for the future of...
In a groundbreaking move for the region, the Emirates Securities and Commodities Authority has introduced the “Financial Influencer – Finfluencer” license. This initiative aims to regulate financial content disseminated across various media platforms, encompassing individuals who provide financial advice, analyses, or opinions. The goal is to enhance transparency and protect investors. This regulatory initiative is...
Emaar Development, the UAE development arm of Emaar Properties, has successfully acquired a new land plot in Dubai for AED2.9 billion, which is approximately $790 million. This acquisition is aimed at facilitating the potential expansion of its master communities. The land was purchased from Amlak Property Investment and is located in Ras Al Khor. The...
Sharjah developer Arada has confirmed the launch of its first hotel and residential development in Dubai, named ‘Akala.’ This project is situated in a prime location between the Dubai International Financial Centre (DIFC) and Downtown Dubai. The name ‘Akala’ translates to ‘beyond time’ in Sanskrit, reflecting the project’s unique vision. The twin-tower structure will stand...
AARK Developers, a prominent real estate developer in Dubai, has introduced its latest flagship project, Aark Terraces, located in the rapidly developing area of Dubailand. This residential development is designed to appeal to both discerning residents and yield-focused investors, marking the company’s most ambitious project to date while strategically expanding into one of the city’s...
The Dubai real estate sector experienced significant activity last week, recording a total of AED22.94 billion ($6.25 billion) in transactions, according to data from the Land Department. This figure highlights the ongoing strength of the market, driven primarily by robust sales transactions. Out of the total transactions, sales transactions accounted for AED18.39 billion ($5 billion)....
AHS Properties, recognized as the UAE’s leading ultra-luxury real estate developer, has announced the launch of Casa AHS, a significant waterfront development valued at $750 million (AED 2.75 billion). This project, located along the prestigious Dubai Water Canal, aims to redefine elite urban living with a carefully curated collection of exceptional residences. Abbas Sajwani, the...
Dubai’s real estate market is rapidly embracing tokenisation, with more than 6 000 individuals joining the waitlist for Prypco Mint, a new platform that enables users to purchase fractional shares of property through secure digital tokens. This innovative approach is revolutionizing how people invest in real estate in the emirate. Credit: WAM The Dubai Land...
The Dubai Land Department has unveiled the world’s first Property Token Ownership Certificate, following the successful sale of the initial tokenized real estate project on the ‘Prypco Mint’ platform, which is licensed by the Virtual Assets Regulatory Authority (VARA). This groundbreaking initiative was launched with remarkable speed, achieving the sale within just one day of...
Rents in Dubai are expected to remain under pressure in 2025 and 2026 due to a significant influx of over 200 000 new residential units entering the market. This assessment comes from Fitch Ratings, which highlights that the local property market will be tested by this large supply. According to Fitch, “Rent prices in most...