Experts and specialists in the real estate sector said that the real estate coding project launched by the Dubai Land and Property Department will finally, will give a new boost to the continuity of real estate sales momentum in the emirate for long periods during the coming years, and will also contribute to attracting new segments of investors that will be able for the first time to invest in Dubai real estate through the project, as well as support the transformation of the sector to digital innovations at rates The biggest, and attracting many technical companies working in the Blockchain and the project compatible with the project.
They mentioned to «Emirates Today» that the project provided a rule that real estate investment is no longer limited to the wealthy or those who have the high financial solvency for the purchase of real estate, but rather available to all, after it allowed the possibility of buying shares of real estate assets, pointing out that small investors will be one of the most prominent beneficiaries of the project, while the demand will focus on ready -made residential real estate.
Economic benefits
In detail, the CEO of “Harbour Real Estate”, Dr. Muhannad Al -Wadia, said that there are several economic benefits that will result from the real estate coding project that launched the Dubai Land Department of Dubai from it finally, including strengthening the reputation of the real estate sector in the emirate globally as one of the most innovative sectors at the global level, through this project that depends on innovative digital technologies, and the project will also contribute to supporting the real estate boom that In the Dubai Market, it provides a strong boost for the vital continuity and activity of the sector, and the promotion of sales.
Al -Wadia added that one of the most prominent economic benefits of the project is to provide the opportunity to attract new groups of investors by providing opportunities for small investors to enter the investment in the real estate sector in Dubai, in addition to developing new markets for real estate coding systems and technologies, which provides opportunities to attract new companies operating in this sector.
He explained that the project is expected to include all types of real estate, but the first stage of it will only focus on ready -made real estate and not under construction, pointing out that it is expected that the ready -made residential properties will be one of the most prominent types and groups that will benefit that will witness a great demand through the project, as it provides actual ready income for investors in them, which attracts new investors to participate through the project in owning those units.
Al -Wadia pointed out that the project provides great opportunities for individual investors to diversify their investments of different value, and invest in the real estate sector even if in small amounts, as the project relied on the basis that real estate investment in Dubai is no longer limited to the wealthy or who have the financial ability to own the real estate, but rather it is available to all, with the ability to own shares in real estate units and register them.
He indicated that investors, through purchasing stakes in real estate units, can benefit from the returns of those real estate, with institutional technical systems that determine the profitability of those returns, which is positively reflected in investors and the real estate sector in general in Dubai during the coming years.
Radical change
For his part, the real estate expert and executive director of the “Al -Awqi Real Estate” company, Nader Talaat, said that the real estate coding project represents great progress in the field of real estate investment and asset management, and that would make a fundamental change in the traditional real estate market.
He added that the coding of real estate assets provides many benefits that can enhance liquidity and extend access to the Dubai Real Estate Market as one of the most important markets in the world, pointing out that this innovative project helps in benefiting from the advantages of coding, which is a digital force that drives the real estate industry forward.
Talaat pointed out that “real estate coding” has become an essential part of digital financing, indicating that thanks to new technologies such as “Blockchain” and “smart contracts”, investors can now have shares in real estate without the need to buy the entire property, which represents them unprecedented investment opportunities that achieve good returns.
My future is directed
In turn, the general manager of “Awad Gargash Real Estate Company”, Raad Ramadan, said that the real estate coding project is one of the integrated projects related to innovative future trends in the real estate sector by linking governance and digital symbols in the Blockchain systems by providing individuals to participate in real estate ownership by buying the real estate code.
He added that the project allows small investors the opportunity to invest in the real estate sector with small amounts by participating with more than one investor, noting that the project transports the real estate sector in Dubai to a sustainable digital future stage by turning real estate assets into digital symbols that can be circulated among individuals more easily.
Ramadan stressed that Dubai is a pioneer at the regional level in the adoption of such projects, explaining that the real estate coding project will be reflected in many economic benefits, including converting the sector to the future digital stage, and benefiting from attracting new segments of small investors by owning a portion of the property without bearing the cost of buying a full property if they do not have the financial capacity for that, in addition to stimulating a new sector of digital assets and attracting specialized companies in that field.
He expected the project to receive wide acceptance among investors from inside and outside the country, while providing new tools more easy to invest in the real estate sector and support the continuity of momentum in the sector for several years.
Real Estate Coding Project
The Dubai Land and Property Department stated that the real estate coding project is a process to convert real estate assets into digital symbols, based on the technology of “Blockchain”, so that each “origin” is divided into shares according to the investor budget and its financial strategies, and investing in the property in simple proportions, which is a qualitative and new shift that allows a portion of a property without the need for entire purchase, and the use of modern technology, which is what is It makes it different from “collective financing” that allows investors to enter the real estate market with small amounts through electronic platforms.
And “Dubai Land” explained that it is the first real estate registration department in the Middle East region that adopts “real estate coding” a royal support.
And “Dubai Land” expected that the value of the “real estate coding” sector in the emirate, thanks to this initiative, would witness tremendous growth to reach 60 billion dirhams in 2033, representing 7% of the total real estate market trading in Dubai.
. The project allowed the rule that real estate investment is no longer limited to the wealthy.
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