Tokenized Property Listing Launched in Dubai

Dubai is expanding its tokenized real estate market with a second listing scheduled for June 11, 2025, following the rapid success of its initial offering. This new listing features a one-bedroom apartment in Kensington Waters, Mohammed Bin Rashid City, valued at Dh1.5 million, offered at a discounted rate compared to its estimated market value of Dh1.875 million. Fractional ownership starts at Dh2,000, making real estate investment more accessible.

The first tokenized property, launched on May 25, 2025, was a two-bedroom apartment in Business Bay, valued at Dh2.4 million. It attracted 224 investors from over 40 nationalities and was fully funded within 24 hours. Investors received official Property Token Ownership Certificates from the Dubai Land Department (DLD), providing legal recognition of their blockchain-backed ownership.

PRYPCO Mint, a joint initiative between the DLD and PRYPCO, licensed by the Virtual Assets Regulatory Authority (VARA), is driving this initiative. The platform operates under a regulatory framework developed in collaboration with VARA, the Central Bank of the UAE, and the Dubai Future Foundation. The blockchain infrastructure is provided by Ctrl Alt using the XRP Ledger, with Zand Bank as the banking partner.

The platform targets UAE residents with Emirates IDs and aims to expand to international investors in the future. PRYPCO Mint's mobile-first platform is designed to attract millennials, tech-savvy investors, and first-time buyers, offering a more accessible and efficient way to invest in real estate.