Nawy Shares, the tokenized real estate entity of SmartCrowd, a Nawy company, has received In-Principle Approval (IPA) from the Virtual Assets Regulatory Authority (VARA).
The approval marks a major milestone in the company’s expansion into regulated tokenized real estate and represents the final step before full authorization, pending the completion of VARA’s licensing requirements.
This development further strengthens Dubai’s position as a global hub for regulated digital assets and innovative financial products, supported by a transparent regulatory framework designed to safeguard investors while enabling responsible innovation.
SmartCrowd, which launched MENA’s first regulated real estate crowdfunding platform, has been instrumental in widening access to property investment across the region. Through the Nawy Shares brand, the company is now moving into the next era of real estate investing by tokenizing real-world assets and bridging traditional property ownership with blockchain-enabled infrastructure.
With over $60 million (AED 220 million) in successful exits to date and more than $136 million (AED 500 million) in transactions planned for 2026, the move into tokenized real estate marks a natural evolution of SmartCrowd’s regulated investment offering.
Adham Moshasha Chief Growth Officer SmartCrowd
“Securing VARA’s in-principle approval is a pivotal step in our journey into tokenized real estate. It reflects our long-standing commitment to operating within the highest regulatory standards, while continuing to innovate and expand access to high-quality real estate investments. We pioneered fractional ownership long before it became a buzzword. Tokenization is simply the advanced mode of that model, bringing fractional property ownership on-chain to improve security, transparency, and tradability. Dubai’s forward-thinking regulatory framework has made this evolution possible and has been instrumental in enabling this next phase of growth.”
“We are incredibly proud of the SmartCrowd team for achieving this milestone with Nawy Shares in Dubai. This is their first step towards a world-leading ecosystem where property ownership becomes digitized, physical assets can become liquid, and transactions will be done instantly. We are excited to be taking part in this journey led by one of the most, progressive regulations in the world,” said Mostafa El Beltagy, CEO and Co-Founder of Nawy.
Upon receiving full authorization, Nawy Shares will move toward launch, further strengthening SmartCrowd’s position at the intersection of real estate, technology, and regulated digital finance in the UAE.
