Tokenized Property Sells Out Quickly

Dubai's second tokenized real estate project, a one-bedroom apartment in Kensington Waters, sold out in a record-breaking one minute and 58 seconds. The offering, facilitated through the 'PRYPCO Mint' platform, attracted 149 investors from 35 nationalities. This rapid sell-out, a world-first for blockchain-backed property investment speed, underscores the growing investor interest in digital property investments and fractional ownership models. The property was valued at Dh1.5 million, with fractional shares starting at Dh2,000.

This follows the successful launch of Dubai’s first tokenized property in May 2025, which sold out within 24 hours. Both projects are part of the Dubai Land Department’s (DLD) Property Tokenization Initiative, designed to enhance real estate market accessibility through blockchain-based fractional ownership. The PRYPCO Mint platform, a joint initiative between DLD and PRYPCO, is licensed by the Virtual Assets Regulatory Authority (VARA) and utilizes blockchain technology developed by Ctrl Alt via the XRP Ledger.

The platform operates under a regulatory framework developed in collaboration with VARA, the Central Bank of the UAE, and the Dubai Future Foundation. Currently targeting UAE residents, the platform plans to expand access to international investors in future phases. The inaugural project, a two-bedroom apartment in Business Bay, attracted 224 investors from over 40 nationalities and was fully funded within a day.

The DLD's Property Tokenization Initiative is expected to reshape property investment models, with officials anticipating tokenized assets becoming a mainstream component of the emirate’s real estate market by 2033. Investors are encouraged to register on the PRYPCO Mint platform for upcoming projects, which are expected to experience similar high demand.