In a recent interview with Dr. Solomon King, on the Lagos Investor Network (LAN), our very own Gareth Shepperson discussed the Tokenization of Real Estate as a potential remedy to the uncertainty of land ownership in Lagos, Nigeria. Title security is an essential element in realising the true value of real estate. In the context of a discussion about opportunities for an investor network, Gareth highlighted this as a possible investment opportunity.
As a renowned Real Estate Attorney in South Africa, the tokenization of real-world assets (particularly Real Estate) has appealed to Gareth for some time. He leads the Blockchain Law Department at Stegmanns Incorporated. Combined with his work in Property Law (Conveyancing) and Commercial Law, this places the tokenization of real estate right at the very center of his orbit.
Dubai’s Real Estate Goes Digital
In a move that’s as futuristic as it is exciting, Dubai is revolutionizing its real estate market by integrating blockchain technology to offer tokenized property investments. This innovative approach is set to make property ownership more accessible and the market more dynamic.
A Landmark Partnership
The Dubai Land Department (DLD) has teamed up with the Dubai Virtual Assets Regulatory Authority (VARA) to connect the emirate’s real estate registry with property tokenization. This collaboration aims to create a governance system that enhances market liquidity and improves the efficiency of property management companies. By allowing fractional ownership of real estate assets, a broader base of investors, particularly small investors, can now enter Dubai’s real estate market, contributing to greater economic inclusion and enhancing the sector’s appeal to global investments.
DAMAC SAYS:
We’re excited to see the collaboration between Dubai Land Department and Virtual Assets Regulatory Authority [VARA] driving the tokenisation of real estate.
This innovative agreement connects the real estate registry with property tokenisation, making investments more transparent, efficient and accessible – values that align perfectly with our vision at PRYPCO of making real estate accessible to everyone.
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