PRYPCO Mint lists second tokenised residential property in Dubai at discount
Dubai-based fractional ownership platform PRYPCO Mint has launched its second tokenised real estate listing, which will go live on 11 June 2025.
The new listing is a one-bedroom apartment in the Kensington Waters project in Mohammed Bin Rashid City, valued at 1.5 million UAE dirhams ($408,404), which is offered at a discount compared to its estimated market value of AED 1.88 million, the company said in a statement.
The fractional ownership starts from AED 2,000.
Launched in May 2025, PRYPCO Mint is a joint initiative between the Dubai Land Department (DLD) and PRYPCO.
The platform's first property, a two-bedroom apartment in Business Bay, attracted 224 investors from over 40 nationalities, with an average investment of AED 10,714.
Listed at AED 2.4 million, below its DLD valuation of AED 2.89 million, the listing was fully funded within one day, the statement said.
DLD has issued property token ownership certificates to the first cohort of investors, officially recognising this new form of blockchain-backed ownership.
The investment through the platform is currently available to UAE residents holding valid Emirates IDs, but is expected to open to international investors in its next phase.
The Real Estate Tokenisation project operates under a framework developed by the Dubai Land Department in partnership with the Virtual Assets Regulatory Authority (VARA), the Central Bank of the UAE, the Dubai Future Foundation (DFF) via the Real Estate Sandbox. Ctrl Alt powers the project's blockchain infrastructure, issuing secure ownership tokens on the XRP Ledger, while Zand Bank serves as the official banking partner.
(Writing by P Deol; Editing by Anoop Menon)
(anoop.menon@lseg.com)
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Khaleej Times
14 minutes ago
- Khaleej Times
FashionTV Acacia by BNW Developments unveiled at an exclusive industry showcase in Dubai
An evening of glamour sets the stage for a new era in lifestyle-led real estate on Al Marjan Island In a glittering evening curated with precision and flair, FashionTV Acacia by BNW Developments has made its official debut before an elite audience of investors, global partners, dignitaries, and industry decision-makers. Hosted by the iconic Ania J, globally known as the "Voice of FashionTV," the evening was a celebration of vision, innovation, and the evolution of branded real estate. A culmination of BNW's design-first ethos and FashionTV's global lifestyle influence, FashionTV Acacia is a high-concept residential project rising on the shores of Al Marjan Island in Ras Al Khaimah, a destination fast emerging as the UAE's most promising frontier for tourism, foreign investment, and luxury development. With its striking architecture, panoramic sea views, and immersive design language, the project embodies a bold rethinking urban living where fashion, functionality, and future-readiness converge. Designed with meticulous detail, FashionTV Acacia by BNW Developments offers a mix of one to four-bedroom residences and penthouses, blending structured elegance with immersive amenities like private lounges, wellness sanctuaries, landscaped social pods, and sea-facing infinity decks. The interiors and communal spaces echo the polished energy of FashionTV, where every material, palette, and proportion reflect a life lived in high style. Ankur Aggarwal, chairman and founder of BNW Developments, shared his perspective on the collaboration: "In an age where consumers are no longer just investing in space but in identity and experiential value, FashionTV Acacia presents a distinctive proposition. This is a carefully designed confluence of global culture, regional ambition, and the language of lifestyle. At BNW, we have always believed in creating meaningful intersections between established industries and transformational real estate. Following our successful foray into heritage-led luxury through our collaboration with IHCL for Taj Wellington Mews, it was essential to explore a completely different dimension this time, one rooted in contemporary culture and aspirational living. FashionTV, with its unparalleled global resonance, offered just that." He further emphasised the relevance of Ras Al Khaimah in this vision: "Al Marjan Island, and Ras Al Khaimah as a whole, are no longer peripheral players. With strategic infrastructure investments, global hospitality interest, and visionary governance, this region is fast becoming a nucleus for new-world urbanism. FashionTV Acacia is designed to match this energy, a future-forward offering built within a destination that itself represents the future." Vivek Anand Oberoi, managing director and co-founder of BNW Developments, added a thoughtful layer to the partnership: "FashionTV Acacia was never about aesthetic indulgence alone. It's about capturing a cultural pulse, the global shift toward curated spaces that reflect individual identity. We see the home as an extension of expression. With this collaboration, we have translated the ethos of FashionTV… its editorial sharpness, its contemporary rhythm into an architectural experience. It's not a project we launched, but a philosophy we built." "There's also something incredibly compelling about Ras Al Khaimah right now. It offers the openness of vision that cities often lose with time. By anchoring this project on Al Marjan Island, we're positioning it at the nexus of nature, policy, and international attention. This is where the next chapter of UAE's development narrative is being written, and we're proud to contribute to that growth story," he added. Maximilian Dennis Edelweiss, representative of FashionTV and CEO of IP-Nation said: "To collaborate with BNW was to find a partner who understood that real estate today is about crafting meaningful experiences. Together, through FashionTV Acacia, we've imagined a space that blurs the line between fashion and function, turning lifestyle into a livable legacy." BNW Developments has emerged as a powerful force in redefining the real estate paradigm in the UAE. From heritage-rooted collaborations like Taj Wellington Mews, to the bold modernity of FashionTV Acacia, the brand continues to introduce disruptive, brand-led living experiences to the region, each one more defining than the last. And this is only the beginning. Several new collaborations are already underway, each aimed at further enriching the landscape of global residential living through the lens of storytelling, substance, and strategic thinking.
Khaleej Times
20 minutes ago
- Khaleej Times
Eid Al Adha: Dubai records more than 600,000 passengers during holidays
More than 620,000 passengers have arrived in and departed from Dubai during the four-day Eid Al Adha holidays, from June 5 to June 8, the General Directorate of Identity and Foreigners Affairs (GDRFA)-Dubai revealed on Wednesday. GDRFA said Dubai International Airport accounted for the largest share of this movement, registering 581,527 travellers; while 46,863 travellers passed through the Hatta border post, and 1,169 travellers crossed via maritime ports during the same period. The total number of incoming and outgoing passengers reached 629,559. 'This figure reflects the vibrancy that Dubai enjoys as a global hub for transit and residence,' GDRFA said in a statement sent to Khaleej Times. 'We have made it a priority to ensure a seamless travel experience through smart gates and artificial intelligence technologies, which have contributed to speeding up procedures and improving the flow of movement,' noted Maj-Gen Talal Al-Shanqeeti, assistant director general of the air ports sector at GDRFA. 'The travel experience has become part of our commitment to enhancing quality of life, in line with the Dubai government's approach to providing flexible services that meet individuals' expectations and enhance the readiness of its institutions,' he added.
Khaleej Times
36 minutes ago
- Khaleej Times
ICAI Dubai Chapter celebrates success of first-ever Excellence Awards 2024-25
The ICAI Dubai Chapter marked a historic milestone with the grand success of the inaugural ICAI-Dubai Chapter Excellence Awards 2024-25, recognising outstanding professional achievements of its members. Launched for the first time, the prestigious awards initiative aimed to honour excellence within the CA community. The Chapter appointed a qualified excellence adviser to steer the development and execution of the awards framework, ensuring alignment with international standards. A comprehensive awards flyer, detailed award criteria and sub criteria, category-specific weightages, award submission and assessment templates were created to provide transparency and structure. The campaign saw robust promotion across multiple platforms, with extensive guidance offered to award applicants. This resulted in a strong response, with high-quality entries received across all five award categories (Best Member, CFO, Business Leader, Buddy CA & Young Achiever). An esteemed four-member award jury, selected for their expertise, conducted a rigorous and independent evaluation process, unanimously selecting one winner per category. The Awards culminated in a glittering ceremony graced by internationally renowned innovator Sonam Wangchuck, who presented trophies and elegant Montblanc pens to each winner. Jury members were also honored on stage with special trophies, adding to the celebratory spirit. This successful first cycle sets a new benchmark for excellence and recognition within the ICAI Dubai community.
