The Dubai International Financial Center announced the leadership of the company, GRIP, for investment banking and wealth management, which is based in the center, the process of raising the capital for the Japanese company "Lead Real Estate", this month, using digital securities that represent investor shares, for the time The first at the region level.
The Center stated, in a statement yesterday, that this issuance comes by using digital securities as the first operation of its kind according to global compliance rules at the level of the Middle East, Africa and South Asia, which is an exceptional achievement for Dubai, pointing out that the company “Grape” is working to establish the first market Private securities within the center for the first time in the region.
Dubai International Financial added that this announcement enhances its vision to lead the future of the financial sector, and consolidates its position as the leading financial center in the region, thanks to its innovative and solid legal and legislative framework, which supports the process of innovation and the adoption of the latest technology.
He explained that the laws, legislations and regulations in the financial center played a role in enabling Grape to become the first company in the Middle East, Africa and South Asia, to establish, manage and distribute the process of raising the capital using digital securities, as an issuance.
He noted that this achievement came as a result of joint efforts by a group of lawyers, service and technology providers and regulated companies from around the world, including the UAE, the United States, Japan, Hong Kong and the Cayman Islands.
Grape leads the process for the benefit of the Tokyo-based Lead Real Estate company, which works in the development of residential and commercial real estate, focusing on planning, acquisition and renewal of real estate assets, where some of its projects are being developed to take advantage of the opportunities offered by the Tokyo Olympic Games 2021 The company also owns real estate assets spanning Japan, the United States, Hong Kong, and the Philippines.
Arif Amiry, CEO of the Dubai International Financial Center Authority, said: “We are delighted that the legal, legislative and regulatory system in the center is an innovative platform for achieving this first achievement of its kind in the center and the region, which will drive economic development, and emphasizes the role of the financial center in driving the future of the financial sector ».
For his part, the chairman of the board of directors of "Grape", Tony Pettibes, confirmed that this issuance using digital securities will be a prelude to several future releases on the market using innovative technology.