In a recent Zawya story, UAE property developer BinGhatti, has revealed that they are interested in tokenizing real estate purchases to allow investors to own a part of a property for as little as 500 AED.
The Chairman of BinGhatti, Muhammad BinGhatti noted this during the Sharjah Investment Forum. He mentioned that the company had accepted crypto payments since 2021 with a total of $136 million in payments being made in the first nine months.
He added the organization is now “toying with” tokenizing real estate, to allow anyone, regardless of their wealth, to access the real estate market.
“We are working on as organization, tokenizing real estate to be able to trade it in a similar fashion as the stock market,” he said.
He said buyers would be able to buy as little as AED 500 worth of a real estate asset under tokenization, and then trade it like stock.
Recently Blockchain tokenization platform Mantra, which was reported earlier this year to be in the final stages of securing its Dubai license, was reported to be tokenizing $500 million of the real estate assets of Dubai-based MAG Group.
