Dubai Takes Major Tokenised Real Estate Project
Dubai Land Department has launched the world's first Property Token Ownership Certificate, following the successful sale of the first tokenised real estate project on the 'Prypco Mint' platform — licensed by VARA — within just one day of launch.
This milestone further reinforces Dubai's position as a global leader in real estate innovation and digital transformation.
The first project launched under the Real Estate Tokenisation Initiative attracted 224 investors, 70 per cent of whom entered Dubai's real estate market for the first time.
This highlights strong investor confidence and the accessibility provided by flexible, low-cost digital solutions. Investors represented 44 nationalities, and the average individual investment amounted to AED10,714 ($2,917).
As the region's first platform of its kind, the initiative continues to draw significant interest, with the waitlist exceeding 6,000 requests.
This surge in demand reflects Dubai's growing appeal to new segments of global investors seeking innovative and accessible property ownership models.
Dubai Land Department developed the Real Estate Tokenisation project in collaboration with the Virtual Assets Regulatory Authority (VARA) and the Central Bank of the United Arab Emirates and the Dubai Future Foundation (DFF) through the Real Estate Sandbox.
It is being executed through Prypco Mint.
The initiative aims to broaden the real estate investor base while enhancing transparency and accelerating transaction processes, aligning with the Dubai Real Estate Strategy 2033 goals and the Dubai Economic Agenda D33.
Dubai Land Department is currently working to enable real estate developers to list their projects on the platform, further expanding the initiative's scope and unlocking new opportunities for digital property investment.
Also read: Dubai Metro Blue Line Set To Ease Traffic Congestion In The City
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