UAE property developer DAMAC to launch Metaverse project

Mar 2, 2022

One of the United Arab Emirates (UAE)’s leading real estate property developers, DAMAC Properties, is planning to launch a project in the metaverse soon.

According to Ali Sajwani, the managing director of the real estate property developer DAMAC Properties, his company is planning to start a project in the metaverse sometime in March.

Sajwani’s confirmation of the company’s planned foray into the metaverse came a few weeks after an online poll he conducted suggested real estate is likely to be the first sector to adopt non-fungible tokens (NFTs).

In addition, the revelation came shortly after Sajwani himself was said to have purchased a plot in The Sandbox metaverse.

In remarks following an announcement made during NFT collection Crypto Bear Watch Club (CBWC)’s ask me anything (AMA) session, Sajwani is quoted by Unlock Media explaining the rationale behind DAMAC’s decision.

He added that DAMAC has already created a solution that will integrate the real estate developer’s different platforms which range from real estate to fashion and jewelry.

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