free space

The "Metaverse"

Ismail Al Hammadi

May 10, 2022

While many real estate companies are still discussing the world of "Metaverse", other companies in Dubai have announced the launch of their future plans to enter this world, in parallel with the physical world, and in line with the rapid technological changes brought about by the digital revolution.

Until now, many did not understand the existence of a digital world parallel to the physical world, through which companies can carry out their tasks in it. This means that the situation has become much easier, and not complicated as some see it, especially since the trading and purchase of real estate through “Metaverse” has already begun, as recent statistics indicate that real estate sales through the digital space “Metaverse” exceeded $501 million in 2021, and from It is expected to double this year, as international companies race to buy real estate in this space, in preparation for the near future that will witness a radical shift in the balance of doing business.

Another challenge that the real estate sector in Dubai enters, to be able to maintain its global position, if real estate companies are unable to keep pace with the developments caused by the “metaverse”, this may greatly affect their activities and the profitability of the market performance, and this may lead to the disappearance of some of these companies and extinction, and the dominance remains for those who keep pace with this development more, especially that expectations indicate a compound annual growth in the value of the “metaverse” market by 41.7% in the year 2030, and it is expected that the “metaverse” will cover all sectors in the coming years, which means The matter has become serious and realistic, and real estate companies must deal with it seriously and realistically so as not to lose its position in the market, either to become a contributing part to benefit from the revenues of this world, which are expected to exceed one trillion dollars annually, or to remain in its traditional pattern and miss a lot of opportunities.

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