DDX Global, a consultancy specializing in real-world asset tokenization, has launched a tokenized real estate development project called Desert Pearl as it cements its operations in Dubai UAE.

At the launch ceremony held at the Armani Hotel in Burj Khalifa, DDX Global unveiled details about ‘Desert Pearl,’ which will be underpinned by smart coding and tokenization and stands at the intersection of high-end living and ultramodern technology.

According to the press release, complementing the leadership’s vision for the Dubai Urban Plan 2040 and the Dubai Economic Agenda 2033, ‘Desert Pearl’ reflects the fast-paced digital transformation that is positively influencing every sector of the economy.

Desert Pearl’ is designed by Zhuzh, a Dubai-based international luxury, bespoke architectural design company that will draw on advanced technology and design solutions. It will feature several state-of-the-art amenities and futuristic design elements inspired by the rich heritage of the city.

Albert Weiglhofer, Chief Commercial Officer of DDX Global said: “We chose to launch our business in Dubai due to the city’s leadership, vision, and outlook on accelerating digital transformation. We see tremendous opportunity to support the digitization journey, especially in the real estate sector as it adopts blockchain technology.”

He added: “Desert Pearl brings the opportunity to introduce real-world-asset tokenization to Dubai’s real estate sector on a major scale. We look forward to a rich partnership ecosystem that will facilitate the realization of our vision and Dubai’s strategic outlook to be a leader in leveraging advanced technology, which will result in adding significant value to the Dubai economy.”

Marco van Ham, CEO of Zhuzh said: “The Desert Pearl opportunity has allowed Zhuzh to get super-creative as we delved into the heritage and culture of Dubai.  We’re aiming to create a landmark project for both Dubai and the world and partnering with DDX has given us that potential. It’s been brilliant to work with a fast-moving, innovative company like DDX Global and we’re looking forward to a great collaboration with them.” 

In an interview on the security token show, the creator of Desert Pearl cofirmed that $10 billion worth of assets will be tokenized in Desert Pearl for profit sharing and not actually owning shares in the project.