The Impact of Metaverse Business on the Real Estate Industry


Authors : Bader Mohammed Rashed Bin Nesaif; Syeda Shagufta

Volume/Issue : Volume 8 - 2023, Issue 7 - July

Google Scholar : https://bit.ly/3TmGbDi

Scribd : https://tinyurl.com/4fz5bvnt

DOI : https://doi.org/10.5281/zenodo.8241200

Metaverse technology has the potential to transform the way real estate transactions are conducted to buy and sell properties. The paper aims to investigate the impact of Metaverse business on Dubai real estate. A qualitative in-depth inquiry is conducted using semi- structured interviews with 10 real estate agents and brokers in Dubai. The findings indicate that Metaverse can boost real estate transactions by providing an immersive and interactive experience to potential buyers. However, the paper also highlights the challenges associated with the use of Metaverse technology in Dubai real estate such as concerns over privacy, security, and legal requirements. Nevertheless, the insights from this study can inform the decisions of real estate companies as they explore the novel landscape of Metaverse business.

Keywords : Metaverse Business; Metaverse Real Estate; Virtual Reality; Virtual Property; Property Buying And Selling; Dubai Real Estate; Digital Real Estate.

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