Property Broker of Dubai Launches Tokenization Platform

Arms & McGregor, the famous property broker of Dubai, is gearing up to establish a tokenization platform to allow people to own and engage in property asset trading against crypto tokens. Arms & McGregor entered into a partnership with Blocksquare, the Blockchain-based company of Slovenia, to create a platform that would support decentralized finance or the DeFi liquidity pool. The DeFi liquidity pool is a pool of crypto tokens from where the registered user can pledge tokens in exchange for the rights to swap or lend to another user for liquidation.

The Founder of Arms & McGregor, Makram Hani, believes that the launch of the tokenization platform shall transform how property developers engage in funding and selling projects. The tokenization of the properties shall allow every developer to sell off parts of a property to raise funds for the sponsorship of projects. Tenants will be able to extract benefits from the tokenization by buying portions of the property for the reduction of rental burden without overextending to a full mortgage. It is to be noted that Arms & McGregor is not the first property broker to set up a tokenization platform. The first tokenization platform, Smart Crowd, was established in 2017 by Siddiq Farid, and the second platform was set up in December by Manar Mahmassani and Rami Tabbarra. Another tokenization platform, Real Share, was established by Lootah development for providing fractional ownership of property in collaboration with Smart Crowd.