Dubai Property Sales Hit $18.2B in May Amid Growing Push for Real Estate Tokenization
Dubai’s real estate market hit a record-breaking 66.8 billion dirhams (around $18.2 billion) in sales during May, driven by strong investor demand, new tokenization efforts, and updated regulations aimed at modernizing the sector.
According to data shared with Cointelegraph by real estate platform Property Finder, May saw 18,700 transactions, marking a 44% jump in total sales value and a 6% increase in transaction volume compared to the same month last year.
Much of the growth came from the primary market, where sales values surged 314% year-over-year, while the secondary market grew by 21%. Analysts say this strong performance is a sign that Dubai is increasingly ready to embrace real estate tokenization, a digital approach to property ownership that can make investing more accessible.
“When you see 60 billion dirhams in transactions in a single month, it’s a strong signal that the market is liquid, dynamic, and ready for innovation,” said Scott Thiel, CEO of tokenization platform Tokinvest.
Thiel noted that tokenization—dividing real estate into smaller digital shares—could help drive further growth by attracting both local and international investors. “Tokenization won’t just accompany the next record,” he said. “We believe it will help drive it.”
Regulatory Green Lights for Tokenized Real Estate
Dubai’s real estate boom also coincided with major regulatory updates and industry deals aimed at integrating blockchain and tokenized assets into the property sector.
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On May 1, a $3 billion agreement was signed between MultiBank Group, developer MAG, and blockchain firm Mavryk to bring MAG’s luxury properties onto a regulated tokenization platform.
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On May 19, Dubai’s Virtual Asset Regulatory Authority (VARA) updated its rules to include real-world asset (RWA) tokenization, providing a legal path for platforms to issue and trade tokenized property.
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And on May 25, the Dubai Land Department, the Central Bank of the UAE, and the Dubai Future Foundationlaunched a new initiative that allows investors to buy tokenized shares in completed, ready-to-own properties.
These developments suggest that tokenization is no longer a futuristic idea in Dubai—it’s becoming part of how the city does real estate.
Featured image from: cointelegraph.com