Dubai Launches First Tokenised Real Estate Investment Platform
Dubai Land Department (DLD), in partnership with Prypco, has launched the region's first tokenised real estate investment project through the 'Prypco Mint' platform.
The initiative is being implemented in collaboration with the Virtual Assets Regulatory Authority (VARA), the Central Bank of the United Arab Emirates (CBUAE), and the Dubai Future Foundation (DFF) as part of the Real Estate Sandbox.
Zand Digital Bank has been appointed as the banking partner for the pilot phase.
UAE ID holders can now invest in tokenised real estate from AED 2,000
The project marks the activation of the digital platform mint.prypco.com, offering individuals the opportunity to invest in ready-to-own properties in Dubai through tokenised shares.
The platform is currently available to UAE ID holders, with plans for global expansion and additional platform integrations in future phases.
The initiative is aligned with the Dubai Real Estate Sector Strategy 2033 and the Dubai Economic Agenda D33, which aims to position Dubai as a hub for smart real estate investment.
Investors can begin investing from AED2,000, with all transactions conducted exclusively in UAE Dirhams.
Cryptocurrencies will not be used during the pilot phase. The platform provides detailed information about each property, including pricing, risk factors, technical specifications, and minimum investment requirements.
The project is a result of a strategic agreement between DLD, Prypco, and Ctrl Alt Solutions. It aims to create a regulatory and operational framework for real estate tokenisation.
The agreement focuses on legislation development, knowledge promotion, attracting tokenisation companies, and investor protection.
According to current projections, tokenised assets could account for up to 7 per cent of Dubai's real estate market by 2033, equivalent to AED 60 billion ($16 billion). Prypco Mint is expected to be central to this transformation.
Regulatory oversight is being provided by DLD for physical real estate and VARA for digital assets, ensuring an integrated and transparent approach.
DLD's tokenised property platform ensures CMA-based fund protection
The Central Bank of the UAE oversees corporate accounts through the Client Money Account (CMA) system.
Under this system, investor funds are deposited in CMAs and are only transferred after the purchase process is complete, which are safeguarded until the transaction is finalised.
The platform facilitates access for individual investors, allowing them to earn returns from both rental income and capital appreciation.
Ownership is legally documented by DLD, and investors are not required to manage the properties directly.
Currently, the pilot phase includes only ready-to-own properties. Tokenisation is permitted solely through companies licensed by VARA.
DLD is responsible for verifying the fairness of property pricing before listing. Prypco and Ctrl Alt are the two companies authorised for the pilot, with more firms expected to join in future phases.
This initiative forms part of the Real Estate Evolution Space Initiative (REES), launched earlier by DLD to support PropTech and AI developments.
The REES initiative promotes a legislative environment that attracts talent and startups to the sector.
Source Arabian Business
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Daily Tribune
2 days ago
- Daily Tribune
HONOR reveals HONOR 400 Series with 200 MP AI Camera and AI Creative Editor
TDT | Dubai HONOR, a global leading AI device ecosystem company, has officially launched the all-new HONOR 400 Series in the Middle East & Africa Region a premium event held in Dubai. The event, themed 'HONOR AI Wonderverse,' combined Arabic aesthetics and futuristic design, symbolizing the perfect fusion of heritage and innovation. Guests enjoyed a unique experience with different interactive zones, where they could explore the new AI Creative Editor features in an engaging way. The launch event was innovative and engaging, featuring different experience zones that allowed guests to explore the new AI Creative Editor features in a fun and creative way. With its powerful AI Camera, smart AI Creative Editor, strong performance, improved durability, and standout design, the HONOR 400 Series is ready to change the way people experience smartphones. The HONOR 400 is available for pre-order in Midnight Black, Meteor Silver and Desert Gold at a price starting from AED 1399. Upon pre-order, users will get free gifts worth AED 897 including Earbuds S7, Louvre Abu Dhabi Phone Case and HONOR Care 12-month accidental damage protection and HONOR Care GCC Joint Warranty. The HONOR 400 Pro is available for pre-order in three colorways Midnight Black, Lunar Grey and Tidal Blue at a price of AED 2499. Upon pre-order, users will get free gifts worth AED 1396 including Earbuds Clip, HONOR CHOICE Watch, HONOR Art Phone Cover, and HONOR care 12-month accidental damage protection and HONOR Care GCC Joint Warranty. Besides the AI features, HONOR has equipped the devices with premium hardware for a smooth and lightning-fast experience. The HONOR 400 Series is powered by a 6000mAh battery, with the Pro version further enhanced by 100W HONOR SuperCharge. In terms of durability, the series boasts Water and Dust Resistance certification, while the Pro version is upgraded with IP68 and IP69 ratings, offering extra protection.
Trade Arabia
3 days ago
- Trade Arabia
DLD launches region's first tokenised real estate project
Dubai Land Department (DLD) has announced the launch of the Mena region's first tokenised real estate investment project through the 'Prypco Mint' platform. The initiative is being implemented in partnership with Prypco, in collaboration with the Virtual Assets Regulatory Authority (VARA), the Central Bank of the UAE and the Dubai Future Foundation (DFF) through the Real Estate Sandbox. Zand Digital Bank has been appointed as the banking partner for the project's pilot phase, positioning Dubai as the first city in the Mena region to adopt a licensed platform for real estate tokenization. DLD has officially launched the pilot phase of investment in tokenized real estate, marking the activation of the digital platform The platform enables users to generate returns and own a share in a prime real estate project in Dubai. Currently available exclusively to UAE ID holders, the platform is set to expand globally in the near future, with additional platforms to be integrated in later phases, further reinforcing Dubai's position as a global hub for innovation in tokenized real estate. According to DLD, the project offers individuals innovative investment opportunities through the purchase of tokenised shares in ready-to-own properties in Dubai, starting from just AED2,000 ($544). All transactions are carried out exclusively in UAE Dirhams, with no use of cryptocurrencies during the pilot phase. Through the platform, investors can access comprehensive property details, ranging from pricing, risk factors, and technical specifications to the minimum investment required, ensuring full transparency and informed decision-making. This initiative stems from a strategic partnership agreement between Dubai Land Department, Prypco, and Ctrl Alt Solutions, aimed at developing an innovative regulatory and operational framework for real estate tokenization. The partnership focuses on strengthening legislation, promoting knowledge, attracting specialised asset tokenization companies, and supporting innovation while safeguarding investor rights, said DLD in its statement. As the market continues to evolve, tokenized assets are projected to represent up to 7% of Dubai's real estate market by 2033, equating to a value of AED60 billion ($16 billion). Prypco Mint is poised to be the cornerstone of this transformation, it stated. The real estate tokenisation project is jointly managed by Dubai Land Department, as the regulator of physical real estate assets, and the Virtual Assets Regulatory Authority (VARA), as the regulatory body for digital assets.
Gulf Insider
4 days ago
- Gulf Insider
Dubai Launches First Tokenised Real Estate Investment Platform
Dubai Land Department (DLD), in partnership with Prypco, has launched the region's first tokenised real estate investment project through the 'Prypco Mint' platform. The initiative is being implemented in collaboration with the Virtual Assets Regulatory Authority (VARA), the Central Bank of the United Arab Emirates (CBUAE), and the Dubai Future Foundation (DFF) as part of the Real Estate Sandbox. Zand Digital Bank has been appointed as the banking partner for the pilot phase. UAE ID holders can now invest in tokenised real estate from AED 2,000 The project marks the activation of the digital platform offering individuals the opportunity to invest in ready-to-own properties in Dubai through tokenised shares. The platform is currently available to UAE ID holders, with plans for global expansion and additional platform integrations in future phases. The initiative is aligned with the Dubai Real Estate Sector Strategy 2033 and the Dubai Economic Agenda D33, which aims to position Dubai as a hub for smart real estate investment. Investors can begin investing from AED2,000, with all transactions conducted exclusively in UAE Dirhams. Cryptocurrencies will not be used during the pilot phase. The platform provides detailed information about each property, including pricing, risk factors, technical specifications, and minimum investment requirements. The project is a result of a strategic agreement between DLD, Prypco, and Ctrl Alt Solutions. It aims to create a regulatory and operational framework for real estate tokenisation. The agreement focuses on legislation development, knowledge promotion, attracting tokenisation companies, and investor protection. According to current projections, tokenised assets could account for up to 7 per cent of Dubai's real estate market by 2033, equivalent to AED 60 billion ($16 billion). Prypco Mint is expected to be central to this transformation. Regulatory oversight is being provided by DLD for physical real estate and VARA for digital assets, ensuring an integrated and transparent approach. DLD's tokenised property platform ensures CMA-based fund protection The Central Bank of the UAE oversees corporate accounts through the Client Money Account (CMA) system. Under this system, investor funds are deposited in CMAs and are only transferred after the purchase process is complete, which are safeguarded until the transaction is finalised. The platform facilitates access for individual investors, allowing them to earn returns from both rental income and capital appreciation. Ownership is legally documented by DLD, and investors are not required to manage the properties directly. Currently, the pilot phase includes only ready-to-own properties. Tokenisation is permitted solely through companies licensed by VARA. DLD is responsible for verifying the fairness of property pricing before listing. Prypco and Ctrl Alt are the two companies authorised for the pilot, with more firms expected to join in future phases. This initiative forms part of the Real Estate Evolution Space Initiative (REES), launched earlier by DLD to support PropTech and AI developments. The REES initiative promotes a legislative environment that attracts talent and startups to the sector. Source Arabian Business
