Dubai Land Department and Curt Alt have initiated the next phase of their property tokenization project, enabling the resale of property tokens. This step aims to make the process of buying and selling real estate faster and more transparent, allowing investors and buyers to trade property shares instantly. Tokenization is an advanced financial technology that divides property into digital tokens secured on the blockchain, facilitating the purchase and sale of fractional ownership. This increases market liquidity and eases investment. Through this technological upgrade, Dubai intends to further activate its real estate market as part of the $16 billion tokenization initiative. Under this project, property owners and investors can now sell their digital tokens immediately without complex legal procedures, saving both time and costs in real estate transactions. Dubai’s effort seeks to introduce innovation and transparency to the global property market, where traditional methods are often slow and expensive. Successful implementation of this project is expected to boost property tokenization not only in Dubai but worldwide, creating new opportunities for investors. However, challenges related to digital asset regulations and security must be addressed to ensure sustainable growth.
Source: coindesk
