{"id":59751,"date":"2024-05-21T17:50:30","date_gmt":"2024-05-21T13:50:30","guid":{"rendered":"https:\/\/blog.dubaicityguide.com\/site\/?p=59751"},"modified":"2024-06-07T17:52:15","modified_gmt":"2024-06-07T13:52:15","slug":"signing-an-mou-to-drive-investment-in-digital-assets","status":"publish","type":"post","link":"https:\/\/blog.dubaicityguide.com\/site\/signing-an-mou-to-drive-investment-in-digital-assets\/","title":{"rendered":"Signing an MoU to drive investment in digital assets"},"content":{"rendered":"

Dubai’s<\/a> Roads and Transport Authority (RTA) has entered into a strategic partnership after signing an MoU with SmartCrowd Holding Ltd, the parent company of SmartCrowd Ltd. The latter, licensed by the Dubai Financial Services Authority (DFSA), is recognized as the first digital platform specialising in real estate investment and crowdfunding across the Middle East and North Africa.<\/p>\n

The MoU calls for establishing a common digital platform, powered by blockchain technology, to attract investments in non-fungible tokens (NFTs) for real estate and public facilities that RTA plans to establish and implement in the Emirate of Dubai in the future, such as rest areas, which include retail stores and various service centers with continuous investment returns.<\/p>\n

The official signing event was held at RTA\u2019s Head Office, with Ahmed Hashim Bahrozyan, CEO of RTA\u2019s Public Transport Agency, representing RTA, and Siddiq Farid, Founder and CEO of SmartCrowd, signing on behalf of the company.<\/p>\n

Expressing his delight at the partnership, Bahrozyan commended SmartCrowd for spearheading evolution in real estate investing by leveraging regulations and smart applications of the latest technologies, such as blockchain. This MoU was signed on the back of SmartCrowd\u2019s efforts to pilot a blockchain-based platform in Pakistan in 2022, aligning with RTA\u2019s commitment to adopt trending technologies across its applications and services.<\/p>\n

\u201cThe signing of this MoU is a significant step that marks RTA\u2019s entry into the realm of investment in digital and non-fungible assets for public facilities and real estate. The move is expected to open new opportunities for RTA to increase and diversify its revenues and enable a wider segment of the community to enter in these investments, which do not require large capital,\u201d Bahrozyan said.<\/p>\n

\u201cThis initiative forms an integral part of RTA\u2019s partnership with the private sector and is poised to enhance Dubai’s profile as a regional economic powerhouse in the landscape of a global economy. It will also develop RTA\u2019s ambition to achieve financial sustainability as a key strategic goal and foster partnerships with the private sector, known for its innovative and creative potential, especially in the digital economy.\u201d<\/p>\n

Farid shared his thoughts, stating: \u201cThis partnership validates our futuristic thinking as we keep up with fast-evolving technology. SmartCrowd has consistently been at the forefront of innovation, establishing the region’s first digital real estate platform from both regulatory and technological standpoints. Looking ahead, we are strategically leveraging emerging technologies to take our initiatives to the next level.<\/p>\n

\u201cWe feel blessed to be in a country where innovation is not only fostered but championed. Partnering with a government entity that shares the same vision is especially exciting, as it allows us to deliver unique opportunities for everyone to be a part of this city\u2019s tremendous growth.\u201d<\/p>\n

About Crowdfunding<\/strong><\/p>\n

Crowdfunding is the practice of funding a project by raising money from many people through licensed online platforms such as SmartCrowd and others in the UAE. Dubai Government also launched DubaiNext, a digital crowdfunding platform to support SMEs. In March 2022, the UAE Cabinet approved crowdfunding activity for both the public and private sectors.<\/p>\n","protected":false},"excerpt":{"rendered":"

Dubai’s Roads and Transport Authority (RTA) has entered into a strategic partnership after signing an MoU with SmartCrowd Holding Ltd, the parent company of SmartCrowd Ltd. The latter, licensed by the Dubai Financial Services Authority (DFSA), is recognized as the first digital platform specialising in real estate investment and crowdfunding across the Middle East and […]<\/p>\n","protected":false},"author":1,"featured_media":59747,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[12],"tags":[],"class_list":["post-59751","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/blog.dubaicityguide.com\/site\/wp-json\/wp\/v2\/posts\/59751","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/blog.dubaicityguide.com\/site\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blog.dubaicityguide.com\/site\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blog.dubaicityguide.com\/site\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/blog.dubaicityguide.com\/site\/wp-json\/wp\/v2\/comments?post=59751"}],"version-history":[{"count":2,"href":"https:\/\/blog.dubaicityguide.com\/site\/wp-json\/wp\/v2\/posts\/59751\/revisions"}],"predecessor-version":[{"id":59753,"href":"https:\/\/blog.dubaicityguide.com\/site\/wp-json\/wp\/v2\/posts\/59751\/revisions\/59753"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/blog.dubaicityguide.com\/site\/wp-json\/wp\/v2\/media\/59747"}],"wp:attachment":[{"href":"https:\/\/blog.dubaicityguide.com\/site\/wp-json\/wp\/v2\/media?parent=59751"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.dubaicityguide.com\/site\/wp-json\/wp\/v2\/categories?post=59751"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.dubaicityguide.com\/site\/wp-json\/wp\/v2\/tags?post=59751"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}