A developer in Dubai intends to tokenize a one-of-a-kind project they are starting.
DDX Global, a company specializing in tokenizing real estate, is introducing the ‘Desert Pearl’ and will support it by providing tokens to investors.
Together with a boulevard and private marina, Desert Pearl will have two hotels, apartments, a business district, and a retail area. In addition to its 88 rooms, the boutique hotel will have a planetarium, arena, Arabic astronomy museum, and Concord’s Gallery, among other amenities.
‘Qamar Residences’, the first residential building, will have three different types of homes: the 400 square meters Pearl Collection, 650 square meters Oasis Collection, and the 5,000 square meters Sky Penthouse.
“All these assets can be tokenized, delivering more value for investors,” said the developer. (More details are to be announced.)
“Our aim as a tokenization consultancy is to leverage blockchain technology for tokenizing real-world assets,” said Chief Operating Officer of DDX Global.
“In addition to the opportunity for long-term value, our strategic approach of digitizing real estate assets will help strengthen liquidity and enhance international investment in Dubai’s property sector. Our goal is to create a blueprint for responsible real estate tokenization.
“We are bridging two core markets – the luxury property sector in Dubai with the growth in fintech enterprises driven by Web3 innovation.”