Real Estate: is considering assets Now
According to Chairman Muhammad Bin Ghats, the action will make it possible for investors to enter the real estate market with as little as AED 500.
- The developer based in Dubai, who created the $204 million penthouse branded with the Bugatti brand, is considering tokenizing real estate purchases so that buyers may enter the market with as little as AED 500.
- During the Sharjah Investment Forum, Muhammad Banghart, the chairman of developer Banghart.
- stated that the company began taking cryptocurrency payments in 2021 and received AED 500 million ($136 million) in payments in digital currencies in the first nine months.
- He claimed that in order to make the real estate market accessible to anyone, regardless of wealth, the organization is now “toying with” tokenizing real estate.
- He stated, “As an organization, we are working on tokenizing real estate so that it can be traded in a manner akin to the stock market.”
- According to him, under tokenization, customers would be able to purchase real estate assets for as low as AED 500 and exchange them like stocks.
- Tokenization is the process of using the blockchain to create a digital token that can be exchanged like a security and represents the worth of an asset.
- Mantra, a blockchain platform located in Hong Kong, which was earlier this year said to be nearing the completion of obtaining its Dubai license.
- tokenized $500 million worth of the real estate holdings of MAG Group, a company based in Dubai, in July.
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