Dubai’s property sector witnessed a remarkable upswing in May, hitting all-time highs in both sales volume and value — a strong indicator of rising investor confidence and the market’s evolving openness to real estate tokenization.
Data from the real estate portal Property Finder reveals that property transactions totaled 66.8 billion dirhams (around $18.2 billion) last month, spread across 18,700 deals. Compared to May 2024, this represents a 44% increase in transaction value and a 6% bump in the number of sales.
Both new developments and existing property sales contributed to this surge. Notably, the value of off-plan (primary) property sales jumped 314% year-over-year, while resale (secondary) properties saw a 21% increase in value.
Tokenization Seen as the Next Frontier
This surge in activity aligns with Dubai’s growing embrace of real estate tokenization — a process that allows properties to be divided into digital shares, potentially transforming access to the market.
Scott Thiel, CEO and co-founder of RWA tokenization platform Tokinvest, believes the latest figures reflect Dubai’s preparedness for such innovation. “Dubai is clearly cementing its position as a global real estate powerhouse,” Thiel said. “When a market generates over 60 billion dirhams in a single month, it’s not only liquid but ready to adopt new technologies like tokenization.”
He emphasized that tokenization is moving beyond theory into practical application, offering a way to fractionalize real estate and cater to a broader pool of local and global investors. According to Thiel, this trend won’t just keep pace with market growth — it will help drive it. “Tokenization is poised to be a catalyst for the next wave of expansion,” he noted.
Regulatory Support Accelerates Innovation
The real estate rally coincides with a wave of pro-tokenization regulatory activity in Dubai.
On May 1, a landmark $3 billion agreement was signed between MultiBank Group, property developer MAG, and blockchain platform Mavryk. The collaboration aims to bring MAG’s high-end developments onto a regulated blockchain marketplace.
Further bolstering this momentum, Dubai’s Virtual Asset Regulatory Authority (VARA) issued updated guidelines on May 19, providing a clearer regulatory framework for tokenized real-world assets (RWAs). Legal expert Irina Heaver highlighted the importance of this update, noting that it enables platforms and issuers to launch and trade tokenized property with regulatory confidence.
On May 25, Dubai took another major step forward. The Dubai Land Department, in collaboration with the Central Bank and the Dubai Future Foundation, unveiled a tokenized real estate platform — the first of its kind in the MENA region — allowing investors to purchase digital shares in move-in-ready properties.
For more news, find me on Twitter Giannis Andreou and subscribe to My channels Youtube and Rumble
What is your opinion on this particular topic? Leave us your comment below! We are always interested in your opinion!
