Dubai's first tokenised property project sells out on launch day with 224 investors
Dubai's first tokenised property project sold out within a day of its launch, attracting 224 investors, with 70 per cent of them entering the emirate's real estate market for the first time.
The individual investors, representing 44 nationalities, paid Dh10,714 ($2,917) each on average for the tokenised shares in ready-to-own properties, the Dubai Land Department said in a statement on Thursday.
'As the region's first platform of its kind, the initiative continues to draw significant interest, with the waiting list exceeding 6,000 requests,' the government body said.
'This surge in demand reflects Dubai's growing appeal to new segments of global investors seeking innovative and accessible property ownership models.'
The DLD developed the project in collaboration with the Virtual Assets Regulatory Authority, the Central Bank of the UAE and the Dubai Future Foundation through the Real Estate Sandbox. It is being executed through Prypco Mint.
Currently, only Emirates ID holders will be able to invest in the project before it opens up to international investors in the 'near future, with additional platforms to be integrated in later phases', the DLD said during the official launch of the pilot phase on May 25.
The initiative aims to broaden the real estate investor base while improving transparency and accelerating transaction processes.
The project offers investment opportunities through the purchase of tokenised shares in ready-to-own properties in Dubai, starting from Dh2,000.
All transactions are carried out exclusively in UAE dirhams, with no use of cryptocurrencies during the pilot phase, the DLD had said. Through the platform, investors can access all the property details, including pricing, risk factors, and technical specifications.
DLD is currently working to allow real estate developers to list their projects on the platform, further expanding the initiative's scope and unlocking opportunities for digital property investment, it said on Thursday.
The project, announced in March, focuses on converting real estate assets into digital tokens recorded on blockchain, helping to streamline the process of buying, selling and investing.
Real estate tokenisation enables fractional property ownership, where each asset is divided into shares based on investors' budget and financial strategy. This allows investors to acquire a portion of a property without fully purchasing it.
Dubai's real estate tokenisation market is forecast to reach Dh60 billion by 2033, representing 7 per cent of the emirate's total property transactions, according to government data.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Khaleej Times
16 minutes ago
- Khaleej Times
Dubai is a world's new second-home capital as demand rises
Dubai, long admired for its architectural marvels and tax-friendly policies, has evolved beyond being merely a playground for the wealthy. Today, it is firmly establishing itself as a permanent lifestyle destination for global citizens. Over the past few years, the emirate has seen a significant surge in high-net-worth individuals acquiring prime properties — not just as a means of portfolio diversification, but for actual personal use. Historically, Dubai's real estate market was dominated by flippers and short-term investors attracted by high rental yields, off-plan appreciation, and rapid development cycles. However, the profile of buyers has shifted dramatically, especially in the five years following the pandemic. Today's buyers are more emotionally invested, seeking long-term security, lifestyle benefits, and a true home for themselves and their families. This transformation has been further supported by the introduction of Golden Visas, enhanced residency laws, and Dubai's unmatched lifestyle appeal. These factors have made it easier and more desirable for foreigners to settle in the city. As a result, demand in the real estate sector has moved away from speculative investments toward end-user purchases, bringing greater stability and sustainability to the market. Why Second-Home Buyers Flocking to uae 'The lifestyle factors attracting second-home buyers to Dubai include a strong sense of safety, world-class infrastructure, a convenient geographic location, and significant tax advantages, such as zero income tax,' says Svetlana Vasilieva, Head of Secondary Sales at Metropolitan Premium Properties. In particular, families are increasingly making Dubai their second home. Drawn by the city's secure environment, excellent schooling options, and abundant family-friendly amenities, many are opting for larger residences to accommodate growing household needs. 'The introduction of initiatives like the Golden Visa and streamlined family sponsorship processes have made Dubai an even more attractive destination for families,' Vasilieva adds. 'We are seeing a clear rise in demand for 4-5 bedroom homes designed for comfort and long-term living.' Echoing this trend, Sara Aji, Managing Partner of Alma Developments, notes, 'Dubai's appeal has broadened beyond traditional investors. Families now prioritise liveability over speculation. At Alma Gardens, for example, there's increasing demand for thoughtfully designed homes with features like built-in studies, ample storage, and community amenities that cater to multi-generational living and hybrid work setups.' Dubai's reputation as a retirement-friendly city is gaining momentum thanks to the retirement visa programme and the city's tax-free environment. 'Retirees are increasingly considering Dubai for second homes,' Vasilieva observes. 'The combination of a modern, well-connected city with attractive tax benefits makes it an ideal choice for a comfortable retirement abroad.' At the same time, Dubai is emerging as a hotspot for digital nomads and remote professionals. The city's remote work visa, rapid internet, numerous co-working spaces, and thriving expat communities create the perfect ecosystem for location-independent lifestyles. Kareem Fahmy, Founder and CEO of Innovate Living and Co-Founder of Omoria, comments: 'We're seeing interest from professional couples, entrepreneurs, and remote workers relocating from major global cities. They seek not only tax and climate advantages but also a high quality of life. Dubai offers a secure, vibrant, and culturally rich environment that meets diverse lifestyle needs.' 'The shift we're witnessing is from pure investment to lifestyle-driven purchases,' says Aamil Tabani, CEO of Golden Bridge Real Estate. 'Buyers today want more than a property, they want a city that supports their way of life.' Dubai's unique blend of modern luxury, year-round sunshine, and top-tier infrastructure makes it a compelling choice for second-home ownership. 'From family-friendly healthcare and international schools to leisure facilities like golf courses, beaches, fine dining, and entertainment hubs, Dubai offers a lifestyle where individuals and families can live comfortably for months at a time,' Tabani explains. 'This lifestyle appeal is the real magnet for second-home buyers.' Tax-free Living and Long-term Visas With its bold visa reforms, investor-friendly regulations, and enviable tax structure, the emirate is outpacing traditional second-home markets like London, Paris, and Singapore. 'Dubai offers substantial tax advantages compared to traditional second-home destinations like London, Paris, or Singapore — especially for high-net-worth individuals, investors, and expatriates,' says Vasilieva. 'One of the most compelling benefits is that Dubai imposes zero annual property tax, no capital gains tax, no inheritance tax, and no personal income tax.' Compare that with Europe's leading cities, where annual property taxes range from 1% to 3%, and rental income can be taxed up to 45%, depending on tax residency and income brackets. In Singapore, foreign buyers face stamp duties of up to 60%, along with income tax on rental income capped at 22%. Dubai, in contrast, offers clarity and predictability. 'Second-home ownership in London, Paris, or Singapore often comes with a web of stamp duties, inheritance taxes, and high recurring levies,' says Aji. 'This makes Dubai not only a fantastic lifestyle destination but also a more cost-efficient place to invest in real estate.' Beyond its favourable tax regime, Dubai is also redefining how the world approaches property-linked residency. 'The introduction of long-term visas, particularly the 10-year golden visa, has been a game-changer,' says Tabani. 'It provides security, confidence, and mobility.' Today, investors can secure a 10-year golden visa by investing just Dh2 million in real estate — even through mortgage-backed purchases. The recent removal of the minimum down payment requirement for visa eligibility has further opened the gates for a broader investor base. 'Policy innovation has been a catalyst,' Tabani adds. 'Combined with transparent regulations and ease of property registration, it has boosted international interest in Dubai as a long-term second-home destination.' A recent example is the introduction of the 'visa on hold' procedure, which allows residents to temporarily suspend their visa while transferring it to a new property. This makes it easier for end-users to relocate within Dubai or upgrade their investment without bureaucratic red tape. Additionally, developers are sweetening the deal. From escrow-protected payment plans to post-handover options, buyers are finding it easier than ever to step into the market. 'These changes reflect a shift from transactional investment toward encouraging deeper lifestyle integration,' notes Aji. 'Dubai's tax environment continues to be one of its most compelling value propositions,' says Fahmy. 'But equally important is the government's proactive approach to regulation. The UAE now offers a unique mix of fiscal advantage, transparency, and lifestyle.' He points out that the 9% corporate tax introduced recently only applies to business profits above Dh375,000 — leaving most residents and real estate investors unaffected. 'The government has made targeted efforts to ensure international investors feel supported,' Fahmy adds, 'from fast-track administrative services to broader integration into the country's economic ecosystem.' Second Homes with First-Class Appeal From panoramic waterfront villas to sleek branded residences and tech-enabled serviced apartments, international investors are embracing a new kind of convenience-led luxury. 'Waterfront homes are the most popular as beaches are rarely accessible in other countries all over the world,' says Vasilieva. 'Branded residences are also a top choice among second-home buyers because they come with high-end lifestyle facilities. Meanwhile, serviced apartments are appealing to clients looking for a hassle-free investment that delivers short-stay flexibility and rental income, all in a fully furnished, smart-home-equipped package.' Tabani notes a surge in demand for branded residences that provide 'hotel-like services and global prestige,' as well as waterfront and golf-view homes that blend lifestyle appeal with solid rental potential. 'Buyers want convenience, high-end amenities, strong resale value, and minimal hassle. Developers are responding by offering turnkey solutions, flexible payment plans, and features like co-working lounges, wellness spaces, concierge services, and even international school partnerships within communities,' he says. For Fahmy, the real differentiator lies in the art of hospitality. 'Second-home buyers are increasingly drawn to residences that offer more than just design or location. What they value most is ease, privacy, and a level of service that feels intuitive,' he explains. At Omoria, this ethos is embodied by the Japanese philosophy of Omotenashi — a concept rooted in thoughtful, anticipatory care. 'Technology and AI play a meaningful role in delivering this,' Fahmy adds. 'From learning personal preferences and automating climate settings to preparing the home before arrival, our systems are designed to enhance—not replace the human touch.' Aji agrees. 'Branded residences and turnkey apartments continue to perform well, but there's also growing interest in functional, mid-size homes that are ready for immediate use, especially among families and part-time residents,' she says. 'At Alma, we provide fully fitted interiors, built-in cabinetry, and flexible layouts that accommodate extended stays without the hassle of post-handover furnishing. The demand is for homes that feel 'lived in' from day one.' Top Picks for Savvy Buyers According to Vasilieva, family-centric gated communities are leading the pack. 'From a real estate perspective, several areas in Dubai are emerging as top choices for second-home buyers, driven by lifestyle preferences, infrastructure, and investment potential,' she says. 'Gated communities such as Dubai Hills Estate, Arabian Ranches, and Emirates Living are highly sought-after for their family-friendly environments, security, green spaces, and well-developed social infrastructure, all within a single, self-contained area.' For those craving an urban pulse, neighbourhoods like Dubai Marina, Downtown Dubai, and Dubai Creek Harbour remain firmly in demand. These communities offer waterfront living and close proximity to major business hubs, alongside vibrant dining and entertainment scenes. 'Mohammed Bin Rashid City (MBR City) is also gaining popularity among both families and investors,' Vasilieva adds, citing its central location, spacious layouts, and luxury-centric amenities. 'While traditional areas like Palm Jumeirah, Downtown Dubai, and Dubai Marina continue to see strong demand, we're now seeing heightened interest in new masterplan districts such as Dubai Islands,' Fahmy says. 'These emerging areas are being developed with a clear focus on integrated living, offering a blend of residential, lifestyle, cultural, and wellness experiences within a single ecosystem.' Aji highlights the growing traction in Dubailand, particularly areas like Liwan. 'While traditional hotspots like Downtown and the Palm remain popular with the luxury segment, we're seeing strong momentum in emerging areas like Liwan that are focusing on the mid-market sector,' she says. 'These communities offer more space, better value per square foot, and improved infrastructure, especially with the upcoming Dubai Metro Blue Line.' 'Home Away From Home' As international buyers seek flexible living arrangements that blend luxury, liveability, and long-term opportunity, the emirate is ticking all the right boxes. The trend of treating Dubai as a second home is not only growing — it's here to stay. Vasilieva believes Dubai is perfectly positioned to lead this global shift. 'Yes, the trend of treating Dubai as a second home is expected to continue growing over the next decade,' she says. 'Post-pandemic, the concept of a 'second home' has evolved, it's no longer just a vacation property, but a flexible living base that supports work, lifestyle, and long-term security.' The global pandemic was a turning point in how people view mobility and space. A second home today isn't just a luxury beachfront escape, it's a strategic base that supports remote work, family life, and a new sense of wellbeing. Dubai's unique combination of tax advantages, geographic accessibility, and high-quality lifestyle has helped solidify its place on the shortlist of international buyers. 'Dubai supports this evolution through flexible visa options, zero income tax, top-tier infrastructure, and political stability,' Vasilieva adds. 'Its role as a global aviation hub further cements its appeal.' For Aji, the shift is as much about mindset as it is about market conditions. 'The pandemic redefined what it means to have a second home — it's now a flexible base that supports work, family, and wellbeing,' she notes. 'Dubai is uniquely positioned to lead this shift thanks to its infrastructure, lifestyle ecosystem, and proactive policymaking.' Aji also observes a diversification in buyer interest. While luxury remains a strong pull, there's a marked increase in mid-market investments from global citizens seeking value and long-term liveability. 'Over the next decade, we expect the second-home trend to strengthen, particularly with investors looking beyond the usual hotspots. Challenges may come from global economic headwinds or oversupply in certain sub-markets, but Dubai's continued focus on liveability and investor-friendly regulation will likely keep it front and centre in the global second-home conversation.' Indeed, the idea of 'home' itself is evolving. Fahmy sees a growing shift in priorities. 'There's a growing emphasis on well-being, mobility, and quality of life, rather than simply owning property in major capital cities,' he explains. 'Dubai caters to all these evolving priorities. It offers world-class infrastructure, a globally connected location, and a lifestyle that blends cultural depth with modern convenience.' He adds that Dubai's appeal goes beyond hard metrics like safety and tax incentives. 'It's also about hospitality, experience, and design. The city's ambition — evident in strategic plans like Dubai 2040 and its consistent top rankings in safety reinforces its status as more than just a destination. Dubai is a long-term lifestyle choice.' Tabani credits much of the growth to the emirate's visa reforms, urban planning, and consistent investment in tourism and sustainability. 'Post-pandemic, the idea of a second home is no longer just a luxury — it's a flexible lifestyle solution. People want a base in a city that offers opportunity, safety, and quality of life,' says Tabani. 'Dubai ticks every box, emerging as a hybrid home city — ideal for business, leisure, or a seasonal lifestyle. It's not just a second home anymore… for many, it's becoming their preferred home away from home.'
Zawya
20 minutes ago
- Zawya
Central Bank of Egypt unveils $1.60bln T-bills, floating-rate note on Sunday
Cairo – The Central Bank of Egypt (CBE) announced treasury bills (T-bills) valued at EGP 80 billion through two tranches on Sunday, 29 June, according to official data. The first auctions stood at EGP 35 billion and will mature in 182 days on 30 December 2025. The second issue was valued at EGP 45 billion, holding a tenor of 364 days until 30 June 2026. Additionally, the CBE offered floating-rate treasury bonds (T-bonds) worth EGP 500 million through one issue, which carries a five-year maturity period until 1 July 2030. Last week, the central bank auctioned T-bills at an aggregated value of EGP 90 billion through two offerings. All Rights Reserved - Mubasher Info © 2005 - 2022 Provided by SyndiGate Media Inc. (
Zawya
20 minutes ago
- Zawya
Tabreed and CVC DIF to acquire Abu Dhabi's PAL Cooling from Multiply Group
Significant growth potential, with expected operational connected load of approx.600,000 refrigeration tons Abu Dhabi, United Arab Emirates – CVC DIF, the infrastructure strategy of leading global private markets manager, CVC, and Tabreed, the world's leading district cooling company, have entered a partnership to acquire PAL Cooling Holding from Abu Dhabi's Multiply Group. The transaction, with an equity value of approximately AED 3.8 billion, includes three long-term concessions in the Abu Dhabi main island area and five long-term concessions on Al Reem Island, and remains subject to customary regulatory approvals. The concessions are serviced by five existing, sustainable district cooling plants and associated networks in Abu Dhabi, with connected capacity of 182,000 refrigeration tons (RT) as of December 2024. An additional plant is currently under construction and three more are in the planning phase. Together the nine plants and eight concessions are expected to represent approximately 600,000 RT. PAL was founded in 2006 and is a prominent player in the UAE district cooling market, catering to landmark residential, commercial and mixed-use developments. The company has eight, long-term concession agreements and partnerships with leading master developers, including Aldar Properties, Modon and Imkan. PAL is strongly positioned on Al Reem Island, which is a strategic destination now fully part of the ADGM free zone, the vibrant financial centre of Abu Dhabi, and is poised to benefit from the expected development ramp-up, with future network expansion already licenced by Abu Dhabi's Department of Energy. Chairman of Tabreed, Dr Bakheet Al Katheeri, emphasised the significance of the partnership: 'Tabreed is always looking to the future and ensuring we remain agile. The acquisition of PAL Cooling with CVC DIF aligns perfectly with our strategic objectives and readiness to adapt to Abu Dhabi's ambitious real estate projects. This year has been historic for Tabreed, with ventures like our Palm Jebel Ali JV and continued growth in Abu Dhabi. These steps position us to meet the UAE's rising demand for sustainable cooling, driven by population growth and decarbonisation targets.' Gijs Voskuyl, Managing Partner at CVC DIF, said: 'PAL Cooling services its clients under long-term, concession-based contracts, in a fast-growing urban environment. The company has a strong track record of developing and constructing high-quality and electrified district cooling plants to deliver reliable, energy-efficient cooling solutions. Building on CVC DIF's long-term track record in the sector, we are delighted to partner with Tabreed, a leading district cooling company in the Middle East. Together with our partners, we are convinced that PAL Cooling is a high-quality investment that will provide our investors with solid returns, while offering the potential for long-term growth and sustainable value creation.' Chief Executive Officer of Tabreed, Khalid Al Marzooqi, added: 'This is turning out to be a truly pivotal year for Tabreed. As we enter a new phase of growth in Abu Dhabi alongside partners, CVC DIF, the benefits brought by this acquisition will be substantial. As part of Tabreed's portfolio, these additional plants will be operated and maintained by the world's leading experts in sustainable cooling. The acquisition also serves to strengthen our already investment-grade status with safe, long-term concession agreements and assured future growth, evidenced by current and planned developments on Reem Island.' Özgür Önder, Head of CVC Middle East, said: 'Our partnership with Tabreed, a regional leader with deep industry expertise, aligns perfectly with CVC's commitment to investing in the UAE, backing mission-critical businesses that support sustainable development across the country.' CVC DIF's investment focus and experience spans key sectors including Energy Transition, Digital Infrastructure, Utilities and Transport – areas that are critical to Tabreed's strategic vision. Its expertise and investment approach makes CVC DIF an ideal partner for a transformative project of this scale. Commenting on the transaction, Samia Bouazza, Group CEO and Managing Director of Multiply Group, said: 'The monetisation of PAL Cooling Holding is a deliberate step in our portfolio optimisation strategy, aimed at delivering superior returns to our shareholders. It reflects our ability to realise significant value from our assets while enhancing liquidity to fuel Multiply Group's next phase of growth – both across our core verticals and on the global stage.' The deal was signed during a special ceremony at Multiply's Abu Dhabi headquarters by Samia Bouazza, Group CEO and Managing Director of Multiply Group, Khalid Al Marzooqi, Chief Executive Officer of Tabreed and Özgür Önder, Head of CVC Middle East, in the presence of Tabreed's Chairman, Dr Bakheet Al Katheeri. About National Central Cooling Company PJSC (Tabreed) Tabreed provides essential and sustainable district cooling services to iconic developments such as the Burj Khalifa, Sheikh Zayed Grand Mosque, Louvre Abu Dhabi, Ferrari World, Emirates Towers, Yas Island, Al Maryah Island, Dubai Mall, Dubai Opera, Dubai Metro, Bahrain Financial Harbor and the Jabal Omar Development in the Holy City of Makkah. The company owns and operates 92 plants in its portfolio, including 76 in the United Arab Emirates, five in the Kingdom of Saudi Arabia, eight in Oman, one in the Kingdom of Bahrain, one in India and one in Egypt, in addition to other international projects and operations. Tabreed is a leading driver of progress for people, communities, and environments around the world towards a more sustainable future. Founded in 1998 and publicly listed on the Dubai Financial Market, it is one of the UAE's strongest growth companies. Through its extensive regional and international operations, industry-leading reliability and efficiency, R&D programmes and investment in AI technology, Tabreed further solidifies its position as the industry's global leader. In addition to district cooling, Tabreed's energy efficiency services extend the company's sustainability impact, helping businesses and organisations to improve their overall energy consumption, in turn preventing CO2 emissions and assisting in the achievement of carbon neutrality objectives. About CVC DIF CVC DIF (formerly DIF Capital Partners) is a leading global mid-market infrastructure equity fund manager. Founded in 2005 and headquartered in Amsterdam, the Netherlands, CVC DIF has c. €19 billion of infrastructure assets under management in energy transition, transport, utilities and digitalisation. With more than 250 people in 12 offices, CVC DIF offers a unique market approach, combining a global presence with the benefits of strong local networks and sector-focused investment capabilities. CVC DIF forms the infrastructure strategy of leading global private markets manager, CVC. This partnership allows CVC DIF to benefit from CVC's global platform, with 30 offices across six continents.
