Blockchain Tokenization in Urban Real Estate : A Comparison of Adoption, Regulation, and Feasibility in Stockholm and Dubai

Sammanfattning

This degree project compares Stockholm and Dubai in order to examine the feasibility of usingblockchain tokenization as a financing model for urban real estate development. The studyhighlights that tokenization has the potential to broaden access to real estate investing by reducingbarriers to entry and increasing liquidity through fractional ownership. Obstacles are also noted,though, such as institutional inertia, the general skepticism of blockchain technology, and regulatoryuncertainties. Through case studies and semi-structured interviews, the study finds that Stockholm’s cautiousapproach reflects a more traditional and risk-averse institutional culture, whereas Dubai has successfullyincorporated blockchain into its real estate sector through proactive regulatory frameworks and creativeinitiatives. According to the findings, deliberate efforts is needed to modify legal frameworks, raise publicawareness, and promote cooperative governance structures that place an emphasis on inclusivity andtransparency if tokenization is to become viable in Sweden. In order to fully utilize blockchain in urbandevelopment, the study emphasizes the importance of coordinating technological developments withinstitutional and regulatory readiness.