Oman to include real estate tokenization in its regulatory framework for virtual assets

"The regulatory framework for virtual assets and virtual asset service providers currently being constructed," Rizadi was quoted as saying, "will allow for the first issuance of virtual assets such as real estate tokens in the Sultanate of Oman."

According to the consultant, the tokenization of real estate - the so-called conversion of real estate into multiple blockchain-based tokens - would certainly "open up" local and foreign investors in the real estate industry's investment options."

Internationally Recognized Regulatory Framework

OCMA announced in January that it was seeking bids from organizations interested in helping to develop a regulatory framework for virtual assets in the country. The deadline for stakeholder bids is March 23.

Meanwhile, Rizadi reported that the capital markets body is working with experts to help Oman "create a regulatory framework with international benchmarks."