Nawy Shares, the tokenised real estate arm of SmartCrowd and part of the Nawy group, has received In-Principle Approval from Dubai’s Virtual Assets Regulatory Authority, the final regulatory step before full authorisation subject to licensing requirements.

SmartCrowd said the approval positions Nawy Shares to move towards launching a regulated platform that tokenises real-world property assets, linking conventional real estate ownership with blockchain-based infrastructure. The company describes tokenisation as an extension of fractional ownership, designed to improve transparency, security and asset tradability within a regulated environment.

The move builds on SmartCrowd’s track record as the operator of the region’s first regulated real estate crowdfunding platform. The company reported more than Dhs 220 million in successful investor exits to date and said over Dhs 500 million in transactions are planned for 2026 as it expands into tokenised real estate in the UAE.

“Securing VARA’s In-Principle Approval is a pivotal step in our journey into tokenised real estate,” said Adham Moshasha, Chief Growth Officer at SmartCrowd. “We pioneered fractional ownership long before it became a buzzword. Tokenisation is simply the advanced mode of that model, bringing fractional property ownership on-chain to improve security, transparency and tradability.”

Upon receiving full authorisation, SmartCrowd said Nawy Shares will move towards launch in Dubai, as the emirate continues to develop regulatory frameworks for tokenised assets and digital investment models.