Planned ‘Desert Pearl’ development to feature mix of real and virtual assets
Dubai: A developer in Dubai is launching a one-off sort of project – and planning to tokenize it as well.
That’s what DDX Global, which is into tokenization of real property, is launching the ‘Desert Pearl’ and will back that up with issuing tokens for investors.
Desert Pearl will feature two hotels, apartments, a commercial cluster and a retail precinct in addition to a boulevard and private marina. The boutique hotel is to house 88 rooms and also an arena, an Arabic astronomy museum, planetarium, a Concord’s Gallery, among other features.
The first residential building will be ‘Qamar Residences’, featuring a Pearl Collection of homes at 400 square meters, the Oasis Collection at 650 square meters and the Sky Penthouse, which will be 5,000 square metres.
“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 enhanced international investment in Dubai’s property sector. Our goal is to create a blue-print 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.”
