Real estate in Dubai’s metaverse: Is it a worthwhile investment, or is it just hype?

Real estate in Dubai’s metaverse: Is it a worthwhile investment, or is it just hype?

Sales in the sector reached $500 million in 2021, with the volume expected to double by the end of 2022

Published: Wed 28 Sep 2022, 2:50 PM Last updated: Wed 28 Sep 2022, 3:24 PM

Multi-million-dollar mansions, luxury hotels, chic apartments, and mega shopping malls in the metaverse could soon become the mainstay in Dubai. However, is putting money into the metaverse real estate a worthwhile investment at this very moment? Or is it all just the hype?

According to recent market data from MetaMetrics Solutions, real estate sales in the metaverse reached $500 million in 2021, and the sales volume is expected to double in 2022. The metaverse real estate market is projected to grow at a CAGR of 31 per cent from 2022 to 2028.

A key topic of discussion at the ongoing Dubai Metaverse Assembly, leading experts in the virtual and brick-and-mortar real estate space call it a 'fantastic opportunity'. The two-day Assembly kicked off to an exciting start on Wednesday, September 28, with participation from over 300 global experts and 40 organisations.

While speaking at a session that discussed opportunities in virtual real estate, Ali Sajwani, general manager of operations at Damac and CEO of D-Labs, said the company makes $100