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Zawya

6 hours ago

• Zawya

Al Tareq Star officially launches Norah Residence in the heart of Jumeirah Village Circle, Dubai

The project is scheduled for handover by the end of Q2 2027 Dubai, UAE: Al Tareq Star, a leading real estate developer with a wide range of businesses and activities in Saudi Arabia, has announced strategic expansion plans in the United Arab Emirates. These plans include launching a portfolio of real estate development projects across key locations in the country. As part of this expansion, the company has officially launched its first residential project in Dubai – Norah Residence – a smart and contemporary residential development in the heart of Jumeirah Village Circle, one of the city's fastest-growing residential areas. The launch event was attended by key investors, industry stakeholders, and members of the media. The event showcased the project's development vision, design philosophy, and unique features. Located in Jumeirah Village Circle, Norah Residence enjoys a strategic position in the heart of Dubai, making it one of the most desirable residential destinations. The area is known for its high rental returns, increasing end-user demand, and strong appeal as a high-yield investment option for those seeking quality living, comfort, and community connection. The location also provides easy access to key highways including Sheikh Mohammed Bin Zayed Road, Al Khail Road, and Hessa Street, ensuring strong connectivity to Dubai's main destinations. The neighbourhood offers a growing mix of restaurants, cafés, retail centres, wellness and fitness facilities, and is home to popular hospitality destinations such as FIVE JVC. Norah Residence was developed in collaboration with the award-winning architectural firm NAGA Architects, renowned for its distinguished design work. The project includes 183 carefully designed units ranging from studios, one-bedroom, two-bedroom, two-bedroom duplex, and three-bedroom duplex apartments, catering to a wide variety of lifestyle needs. The development combines smart home technologies with refined interior designs and provides a distinctive lifestyle experience. Residents enjoy access to recreational facilities including a cinema lounge, café, gym, yoga hall, and a children's play area. The units offer peaceful views overlooking the pool, Halfa Park, and the panoramic skyline featuring the iconic FIVE JVC hotel. Unit prices start at AED 650,000, with a special 40/60 payment plan, offering an attractive investment opportunity for both residents and investors seeking long-term value in Dubai's real estate market. The project is scheduled for handover by the end of Q2 2027. Mrs. NORAH BINT TAREQ BIN ALI AL TAMIMI, Vice Chairperson of Al Tareq Star, said: 'At Al Tareq Star, we believe that housing goes beyond walls and structures. It creates a complete environment that supports growth and wellbeing. With Norah Residence, we were committed to delivering an urban model that reflects a modern quality of life. This project embodies our vision and mission to build contemporary communities.' With a strong legacy of over 80 years of combined experience in Saudi Arabia, Al Tareq Star continues to lead as a developer that merges cultural depth with innovation in modern design. Norah Residence marks the company's latest milestone and its debut project in Dubai.

Arabian Business

10 hours ago

• Arabian Business

Dubai real estate: How to buy property for $545

Dubai is reshaping access to real estate with a new government-backed platform that lets investors own a slice of the city's booming property market for as little as AED 2,000. By turning property into digital tokens, the initiative introduces a new model of ownership that aims to make real estate investment faster, more flexible, and more accessible — all within a regulated blockchain ecosystem. But, what exactly is Dubai real estate tokenization and how does it actually work? How tokenized property investment works in Dubai Dubai's tokenised property system operates through platforms licensed by the Virtual Assets Regulatory Authority (VARA). Investors must be UAE residents over 18 with a valid Emirates ID. After completing Know Your Customer (KYC) verification, they can browse a list of available properties and invest from as little as AED 2,000. Each property is split into digital tokens recorded on the XRP Ledger blockchain. The Dubai Land Department (DLD) issues Property Token Ownership Certificates, linking the digital shares to official land records and ensuring legal recognition. 'The process is surprisingly straightforward,' P.P. Varghese, Head of Professional Services at Cushman & Wakefield Core told Arabian Business. The process includes: Access the platform: Visit with a valid UAE ID Browse properties: Investors can access comprehensive property details, ranging from pricing, risk factors, and technical specifications to the minimum investment required Make investment: Purchase tokenized shares starting from just AED 2,000 ($545) Complete transaction: All transactions are carried out exclusively in UAE Dirhams, with no use of cryptocurrencies during the pilot phase Receive tokens: Title deeds are tokenized on the XRP Ledger network, with direct integration to Dubai's land registry However, ownership is recorded through two layers: blockchain-based digital wallets provided by the platform, and legal documentation issued by the DLD. 'Buyers hold their tokens in digital wallets provided by the licensed platform. At the same time, the DLD steps in to make the ownership official ensuring that ownership is both securely recorded online and legally protected offline,' Zacky Sajjad, Director of Business Development at Cavendish Maxwell said. This ensures that token holders' rights are enforceable under Dubai law, and that the digital record is always backed by a legally recognised title deed. Why was Dubai real estate tokenization launched? The initiative was developed by VARA, the DLD, the UAE Central Bank, and the Dubai Future Foundation. 'Dubai's launch of the first licensed tokenised real estate project in the MENA region marks a pivotal moment,' Adela Mues, Partner at Reed Smith said. 'This initiative is not simply a technological experiment; it is a comprehensive reimagining of how real estate can be accessed, traded, and governed.' VARA oversees all Virtual Asset Service Providers (VASPs) across most of Dubai, excluding DIFC. These providers must comply with strict KYC and Anti-Money Laundering (AML) standards. 'VARA enforces a stringent compliance framework,' Sajjad explained, adding that licensed VASPs conduct due diligence, identify beneficial owners, monitor transactions, and report suspicious activity. VASPs must also retain transaction records for at least eight years, ensuring transparency and regulatory oversight, he said. However, the entry point is a key feature. 'In Dubai's expensive property market where average villa prices hit AED 6 million ($1.6 million), the AED 2,000 ($545) minimum investment represents a 99.97 per cent reduction in entry costs' Varghese said, adding that his opens premium real estate to investors previously priced out of the market. 'The structure appeals primarily to smaller retail investors,' he explained. 'Tokenization democratizes access, allowing middle-class or retail investors to own fractions of premium properties.' According to Sajjad, this model targets investors who are either unable or unwilling to purchase properties outright. Ownership per individual is capped at 20 per cent of any single property. Mues further outlined several advantages of tokenised investment compared to traditional buying. 'One of the most transformative benefits of tokenised real estate is the ability to split property into fractional shares, greatly improving liquidity in a traditionally illiquid market,' she said, adding that these tokens can be traded on secondary markets, offering flexibility in exiting positions. Additionally, lower capital requirements are another major advantage. This approach allow younger generations to 'get on the property ladder' in a very different and more accessible way than their parents, Mues said. Moreover, transaction speed is also improved. 'Smart contracts and digital workflows used on tokenised real estate platforms to automate verification and execution of deals do away with the need for involving numerous intermediaries in the real estate transaction process,' she noted. Another advantage is that transparency and security are built into the blockchain infrastructure. 'Every token transaction is recorded on an immutable distributed ledger, bringing a level of transparency and security to real estate deals that traditional methods have struggled to match,' Mues said, adding that blockchain's cryptographic protocols address fraud risks and create a single, verifiable 'source of truth.' How much does it cost to invest in tokenized Dubai property? Investing in tokenised property comes with defined costs. According to Sajjad, investors pay a 2 per cent fee on the amount invested, a 1 per cent exit fee when selling, and a 0.5 per cent annual management fee. If the property appreciates in value, a capital appreciation fee of up to 15 per cent may apply. Tokenised transactions also benefit from a reduced DLD fee — 2 per cent instead of the traditional 4 per cent. 'Automation reduces the need for middlemen,' Varghese said, adding fewer intermediaries means faster and more cost-effective deals. Dubai's real estate market recorded AED 66.8 billion in sales in May 2025, indicating strong investor confidence. 'The robust traditional sales activity creates ideal conditions for tokenization,' he explained, adding that this shows that the market can absorb this new method of investment without disruption. The DLD projects that tokenised assets could make up 7 per cent of the market by 2033 — equivalent to AED60 billion ($16 billion). What are some potential challenges that could arise with tokenized real estate? Despite the potential, challenges remain. Varghese cautioned that 'market liquidity issues remain a major concern even in Dubai. Early tokenized real estate platforms globally struggle with low trading volumes, wide bid-ask spreads, and limited secondary markets.' Mues also noted that investors give up some autonomy. 'since ownership is fractional and decisions like selling are often made by majority vote, investors must be willing to compromise on autonomy.' Although the system uses blockchain infrastructure, transactions currently take place in UAE Dirhams. 'At present, crypto purchases are pegged to fiat currencies, and fractional ownership is likely to become a growth segment within the residential sector within Dubai' Sajjad said, adding that as regulations evolve, crypto payments may be integrated. Token prices are set in AED or USD and pegged to real-time conversion rates, ensuring price stability even if crypto is introduced later. Currently focused on residential property, tokenization could soon extend to commercial and industrial sectors, according to Varghese. 'All three types of real estate will play a role in tokenization expansion,' he said, adding, the real 'game-changer' lies in capital-intensive projects such as infrastructure and data centres. 'This means tokenization could enable ownership of massive projects that traditionally required hundreds of millions or billions in capital—previously limiting participation to sovereign wealth funds, major developers, or large institutions.' Dubai's strategic positioning a major benefit for property tokenization Dubai's strategic position and development pipeline make it well suited for this kind of innovation, Varghese explained, adding that the emirate's infrastructure connects three continents and benefits from government backing.. However, he noted that mainstream adoption will depend on several factors such as liquidity infrastructure, regulatory clarity, market education, institutional adoption, and global platform integration. 'Dubai's pilot represents a critical first step, but mainstream adoption requires addressing the fundamental liquidity challenges that have plagued tokenized real estate platforms, alongside continued regulatory support, technological improvements, and broader market education globally,' he said. Mues believes the long-term implications could be far-reaching. 'Dubai is clearly positioning itself at the forefront of integrating crypto and blockchain technology into the real estate sector. It is not hard to imagine a future Dubai where the majority, If not all real estate transactions will occur on secure blockchain systems, involving the use of smart contracts and digital land registries, alongside tokenisation of title (whether fractionalised or not),' she said, adding that legal changes will likely define how smart contracts can constitute binding agreements. Echoing the sentiment, Sajjad said: 'Dubai and the UAE is always at the forefront of embracing cutting-edge technologies and with a dynamic, multinational and growing population, this is likely to be a significant segment of the market in the future.' 'While still in its early stages, Dubai's strategic positioning, openness to digital innovation, and investor-friendly climate suggest that real estate tokenistion has the potential to become a major investment channel in the region, for both local and international retail investors,' he concluded.

Crypto Insight

13 hours ago

• Crypto Insight

The anatomy of a crypto scam: How to stop and prevent common threats

In the vast world of crypto, the line between opportunity and deception is razor-thin. The traits that make digital assets attractive — anonymity, independence and rapid transferability — also create fertile ground for fraudsters. Scams are woven into the fabric of the crypto ecosystem, exploiting trust, greed and fear. Unlike traditional financial systems with regulators, the decentralized crypto space allows opportunistic actors to thrive. Understanding the structure of these scams is crucial. Just as forensic investigators dissect crime scenes, analyzing the architecture of crypto scams reveals the calculated maneuvers used to siphon funds. Each scam follows a familiar blueprint — preying on human psychology and the lack of regulation in decentralized finance (DeFi). Breaking down these frameworks provides valuable insights, helping investors and institutions recognize warning signs and fortify defenses in this high-risk environment. The hook — perfect bait for every target The first stage of any scam begins with the hook: a carefully crafted message or offer designed to capture the victim's attention and trigger an emotional response. Before setting the hook, scammers often invest significant time gathering information about their targets. They sift through leaked emails, phone numbers and other personal information to build a profile, crafting a personalized scam to increase the likelihood of success. By incorporating specific details — such as the target's language or personal information — the fraudsters add a layer of credibility that creates trust. Once armed with their target's details, scammers move to the hook, preying on curiosity, trust and the promise of easy profits. Whether it's a phishing email, a fake account alert or an investment opportunity promising 'guaranteed returns,' the goal is to present something too enticing to ignore. A common example is the fake exchange account scam, in which victims believe they have been given accidental access to a large sum of unclaimed money. The scam begins with an unexpected message stating, 'Your account has been created,' accompanied by login credentials for an account/wallet on a cryptocurrency exchange. The victim logs in and finds a balance of $10,000 waiting for them. Delight is replaced by greed as they attempt to withdraw the funds. But there's a catch: the system requires a small deposit — perhaps $1,000 — to unlock the full amount. Once the fee is paid, the scam becomes clear: the exchange was fake, and the deposit is now in the hands of scammers. This scam works because it preys on greed and the allure of a 'lucky break.' Victims become so focused on the reward that they ignore the warning signs, such as bad grammar in the message or lack of domain security on the website. The setup — establishing trust and gaining access After successfully hooking a victim's attention, scammers focus on building trust. This phase involves cultivating a sense of legitimacy and familiarity with scammersgoing to great lengths to establish a personal connection. Scammers may even employ tactics like investment scams, where they spend weeks or months grooming their victims, engaging them in friendly conversations and feigned relationships to create a strong bond. Only once this trust is deeply established do they introduce the fraudulent investment or fake platform, luring victims to transfer funds that they will never see again. The SIM swap attack is another devastating example whereby scammers exploit technological trust. By gathering personal information that is available publicly on social media, such as birthdays, pet names or even favorite sports teams, the fraudster can impersonate the victim. They then contact the target's mobile service provider, armed with these personal details, and request a phone number transfer to a SIM card in their possession. With control over the victim's phone number, they can bypass two-factor authentication and gain access to crypto wallets, bank accounts and emails. The setup phase succeeds because scammers exploit both technological trust and personal familiarity. Humans are, by nature, social creatures, and scammers exploit this characteristic by building relationships that appear genuine. In the SIM swap, scammers manipulate trust in technology, using the victim's digital security habits against them. The execution — draining funds through hidden mechanisms Once access is gained, scammers move to the execution phase, where they drain funds using hidden mechanisms. This is the most devastating stage, as the carefully designed setup ends in significant financial losses for the victim before they've even realized something is wrong. For example, in 2018, a victim boarded a short flight, unaware that scammers had executed a SIM swap while he was offline. By the time the plane landed, funds had been siphoned from his crypto wallet. With control over his phone number, the scammers were able to bypass two-factor authentication (2FA) and gain access to everything. Another good example is the poison wallet tactic which targets large over-the-counter (OTC) platforms. Scammers trick targets into sending small amounts of funds to fraudulent addresses. They do this by creating wallet addresses that look very similar to the initial and final characters of the victim's legitimate address. They then send a small transaction to the victim, hoping the fake address will show up in the user's transaction history. When the victim next makes a transaction, they may unwittingly select the fake address from their history. In this tactic, scammers take advantage of automation and human error. Bots monitor wallet balances, triggering automatic withdrawals when a balance crosses a certain threshold. Meanwhile, the use of familiar-looking addresses plays on the victim's carelessness and trust in their own records. The stolen amounts might be small per transaction, but cumulatively, they siphon off thousands daily, all going virtually unnoticed.