20 thousand investors on the waiting list of real estate coding projects

The Director of the Policy and Real Estate Innovation Department in the Dubai Land Department, Dr. Mahmoud Al -Burai, stressed that the real estate coding project launched by Dubai is the project of the century, and represents a real opportunity that will contribute to expanding the base of real estate ownership of different segments of society.

He revealed in an interview with «Emirates Today» that the fees prescribed to register real estate coding transactions from 4 to 2%, stressing that the project achieved exceptional results within a short period, as six projects were sold, which are fully ready real estate in record time with the participation of about 1,400 investors of 50 nationalities.

He pointed out that there are more than 20,000 people on the waiting list, who have applied to enter classes in the offered real estate coding projects.

Exceptional results

In detail, the Director of Policy and Real Estate Innovation Department in the Dubai Land Department, Dr. Mahmoud Al -Barai, confirmed that the real estate coding project, which started on May 25, achieved exceptional results within a short period, indicating the sale of six projects, which are fully ready real estate in record time with the participation of about 1400 investors of 50 nationalities.

He said that about 70% of these investors participate for the first time in real estate investment, which confirms that the project was able to attract new segments of investors, and enable them to enter this vital sector in a flexible and innovative way.

He added that the investor base participating in this initiative includes various nationalities from Asia, Europe and the Arab countries, as well as Emirati investors, which reflects the international dimension of the project and its attractiveness for a wide segment of investors around the world.

He indicated that the minimum investment in real estate coding projects is only 2000 dirhams, while the maximum is determined by 20% of the value of one real estate, in order to protect investors and ensure a fair distribution of ownership, in addition to ensuring the application of the best standards of global governance.

Momentum

Al -Brui revealed that there are more than 20 thousand people on the waiting list who have applied to enter classes in the presented real estate coding projects, which confirms the great momentum witnessed by this sector, pointing out that the nationalities that contributed to investment include countries from Asia, Europe and the Arab countries, in addition to Emirati investors.

Project stages

Al -Burai explained that the first stage of the real estate coding project focuses on ready -made real estate and is scheduled to be completed next September, followed by the second stage that includes real estate “under construction”, which represents a great opportunity for the launch of the real estate market intended towards the world.

Al -Burai stressed that the second stage will open the market for non -resident investors (foreigners) from all countries, which is a qualitative shift in liquidity and global turnout.

He stated that “Dubai Land” aims to reach the size of the real estate coding market to 16 billion dollars by 2033, representing about 7% of the Dubai Real Estate Market, which is expected to reach a trillion dirhams by the same year.

Inspiring

Al -Bura’i praised the great support from the leadership of the state, saying: “The leadership of His Highness Sheikh Mohammed bin Zayed Al Nahyan, President of the State, may God protect him, stimulated us to adhere to the approach to development and modernization to enhance the UAE’s global status.”

He added: «The vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, may God bless him, who is not satisfied only that Dubai be the number one in all fields, is the source of inspiration in the real estate coding project .. Today, Dubai is competing with Dubai tomorrow.

He stressed that the directives of His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, Deputy Prime Minister and Minister of Defense and Chairman of the Executive Council of the Emirate of Dubai, are that Dubai be an incubator for real estate technology companies.

He stressed that real estate coding is the project of the century, and it represents a real opportunity that will contribute to expanding the base of real estate ownership of different segments of society, and enabling them to invest simple amounts in the real estate market, which opens broad prospects for investment and achieving economic growth.

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Privacy protection

Al -Barai stressed that the real estate coding project launched by Dubai is the first project in the world in which the real estate ownership is fully coded, and it is also the first project that issues actual royal documents for real estate holders (Tokens) within an approved legal and regulatory system.

He pointed out that “Dubai Land” worked to build an integrated system to protect the privacy of the owners, in cooperation with the Virtual Assets Regulatory Authority (VARA), the Emirates Central Bank, and the Dubai Future Foundation, with the aim of enhancing governance and protecting investors in this new type of real estate investment.

Registration fees

In response to an inquiry about the registration fees, Al -Bruy said: “The fees prescribed to register real estate coding transactions have been reduced from 4 to 2% as one of the main incentives to support the project and encourage participation in it.

He added: “The Emirate of Dubai again proves its ability to innovate in the real estate sector, which is one of the most important economic sectors in the emirate, and the project has succeeded in attracting international companies to be part of the real estate coding system.”

High liquidity

One of the most prominent advantages of the real estate coding market is that it has high liquidity, allowing the investor to sell his share at any time, but during the experimental period it is not allowed to sell operations, indicating that starting next September, it will allow investors who participated in the first stage to sell their shares if they wish to do so.

He stressed that investing in real estate coding is a long -term investment, as the investor achieves a rental return estimated at 7% annually distributed monthly, in addition to a return on capital, which makes this type of asset real economic feasibility in the long run.

Transfer

Al -Brui stressed that Dubai is always ready to participate in its pioneering experience with other countries, revealing that “Dubai Land” received several requests from Arab and foreign countries to see the real estate coding project.

He also revealed that “Dubai Land” received requests from 10 international technological companies that wish to enter the field of real estate coding, and seeks to open headquarters for it in the emirate, stressing that this demand reflects the progress and leadership of the UAE in this field.

He added that there is a plan to link real estate coding with digital currencies at the end of this year, which provides a wide opportunity for digital currencies to enter the real estate market through approved platforms from the governments of Dubai and the UAE.

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Requests from 5 new platforms

The director of the Policy and Real Estate Innovation Department in the Dubai Land Department, Dr. Mahmoud Al -Barahi, said that according to the Cooperation and Partnership Agreement with the Virtual Assets Regulatory Authority (VARA), new platforms will be opened for new platforms to work in the real estate coding project, revealing that requests from five new platforms are expected to be decided during the next September.

He pointed out that the coming period will witness an increasing activity with the emergence of several platforms working in the real estate coding in Dubai, with the aim of achieving the spread and providing multiple options for investors.

The possibility of inheriting and disposing real estate

The Director of Policy and Real Estate Innovation Department in the Dubai Land Department, Dr. Mahmoud Al -Barai, stressed that “Dubai Land” adopts accurate criteria for choosing real estate allowed to codinate, as it must be free from any restrictions or problems, and ready for sale, and added that the department assists the fair value of the property according to the data and indicators of the market, and after the seller’s approval of the approved value, the property is included in the coding platform.

He explained that the legal frameworks that govern real estate symbolized are the same laws in force in the Emirate of Dubai, which are applied to traditional real estate, including inheritance and conflict resolution, which allows investors to be able to inherit real estate, possess and dispose of real estate.

• 70 %of investors in coding projects enter the real estate market for the first time.

• 10 global technological companies that choose Dubai as a destination for its business in real estate coding.