by The Emirex Exchange together with Solid Blocks token issuance platform will disrupt the UAE property market
The Dubai real estate market has been booming since early 2021. Most property companies recorded record sales levels in January. The market remains optimistic that both residential and office values will begin to rebound as the devastation of COVID subsides.
“Dubai’s property market is expected to experience a price increase in all residential segments by the end of 2021, according to new analysis from consultants ValuStrat. The office sector prices are expected to bottom out followed by a boost deriving from two government initiatives: issuance of expatriate retiree visas and expansion of the 10-year golden visa scheme. Nonetheless, shopping malls could continue to face downward pressure with the rise in online shopping. The much awaited Expo 2020 (now moved to 2021) and the UAE’s 50-year anniversary celebrations are projected to also fuel an increase in the Dubai residential market.
SolidBlock, an industry expert in tokenization, and Emirex Exchange, a crypto assets trade pioneer, see the UAE and particularly the Dubai property market as ripe for property-backed digital securities disruption. Recently announced regulation supporting security token offerings created a fertile environment for facilitating such deals. With SolidBlock and Emirex well connected to diverse property market stakeholders, this JV is optimally positioned to propel the vision of tokenization into the GCC. Beyond tokenization technology and partnerships with prominent real estate players, the companies have engaged stakeholders with capacity to create built-in rapid increases in the tokenized property values via facilitating asset marketing and adding features making assets instantly more attractive to consumers. EMRX token will be integrated into tokenization of the UAE property market.
Yael Tamar, SolidBlock’s Co-founder and CMO said: “We greatly value this partnership as we plan to expand our technology by collaborating with different stock exchanges and ATS’s to allow trading of digital assets. To boot, this partnership enables us to reach out to additional investors, exposing them to our listed products and facilitates an overall increase in liquidity in this asset class.”
Kirill Mishanin, Chief Sales Officer at Emirex, said: “We are looking forward to our potential cooperation with SolidBlock. Together we can leverage one another’s strengths and develop novel business opportunities through new and existing distributors, channels, and other business relationships. This JV will open doors for fair and equitable participation in developing technology, striking the ideal balance between security and providing ample international access and verification.”
The Companies
Emirex exchange, founded in 2019 and headquartered in Dubai, Emirex operates in the Middle East and Asian markets. The company’s mission is to develop infrastructure that creates a new digital economy linking these markets with Africa, Europe, and eventually the United States.
For more information, visit www.emirex.com and https://emrx.emirex.com
SolidBlock utilizes real estate asset tokenization – the convergence of real estate investing and blockchain technology – to transform real estate into a tradable financial product. This gives investors the opportunity to buy shares in a property and trade them on an exchange or ATS.
SolidBlock is known for issuing the first-ever successful commercial property digital offering: the St. Regis Resort in Aspen, Colorado, which raised $18 million in 2018.
SolidBlock is a partner company of BuiltUp Ventures, which invests in innovative Israeli proptech startups. For more information, visit www.solidblock.co.
