Latest news with #DubaiRealEstateSectorStrategy2033
Arabian Post
5 days ago
- Business
- Arabian Post
Dubai Pioneers Tokenised Property Investment with Prypco Mint Launch
Arabian Post Staff -Dubai Dubai has introduced the Middle East and North Africa's first tokenised real estate investment platform, Prypco Mint, enabling individuals to invest in fractional shares of ready-to-own properties starting from AED 2,000. This initiative, spearheaded by the Dubai Land Department in collaboration with Prypco and Ctrl Alt Solutions, aims to democratise access to the emirate's property market. Currently, the platform is accessible exclusively to holders of UAE Emirates IDs, with plans for global expansion in subsequent phases. Transactions are conducted solely in UAE Dirhams, and cryptocurrencies are not utilised during the pilot stage. Investors can access comprehensive property details, including pricing, risk factors, and technical specifications, ensuring transparency and informed decision-making. ADVERTISEMENT The project aligns with the Dubai Real Estate Sector Strategy 2033 and the Dubai Economic Agenda D33, which seek to position Dubai as a hub for smart real estate investment. Projections estimate that tokenised assets could account for up to 7% of Dubai's real estate market by 2033, equivalent to AED 60 billion . Regulatory oversight is provided by the DLD for physical real estate and the Virtual Assets Regulatory Authority for digital assets, ensuring an integrated and transparent approach. The Central Bank of the United Arab Emirates plays a pivotal role in overseeing the opening of corporate accounts linked to real estate tokenisation through the Client Money Account system, safeguarding investor funds until the purchase process is fully completed. Industry stakeholders have welcomed the initiative, viewing it as a significant step towards enhancing liquidity and accessibility in the property market. By enabling fractional ownership, the platform opens up investment opportunities to a broader base of investors, particularly those seeking smaller-scale investments.
Gulf Insider
5 days ago
- Business
- 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
Gulf Today
20-05-2025
- Business
- Gulf Today
Sheikh Hamdan launches 'Dubai PropTech Hub' to make Dubai real estate global leader
Sheikh Hamdan Bin Mohammed Bin Rashid Al Maktoum, Crown Prince of Dubai, Deputy Prime Minister, Minister of Defence, Chairman of The Executive Council of Dubai, and Chairman of the Higher Committee for Future Technology and Digital Economy, chaired a meeting of the Committee and issued directives to launch The Dubai PropTech Hub. The move seeks to fast-track the expansion of the PropTech market in the emirate, aiming to more than double its value to surpass Dhs 4.5 billion over the next five years. It also reinforces Dubai's position as a global leader in real estate innovation, in line with the Dubai Economic Agenda D33 and the Dubai Real Estate Sector Strategy 2033. During the meeting, Sheikh Hamdan reviewed the committee's business report, which detailed the results of past projects, evaluated the progress of ongoing initiatives, and examined new proposals aimed at fostering innovation and accelerating the growth of digital enterprises within a supportive and integrated economic environment. Sheikh Hamdan said that Dubai, guided by the visionary leadership of His Highness Sheikh Mohammed Bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, has become a leading global hub for high-value investments and top talent, with the real estate sector being no exception. The emirate has developed a unique model that balances sustainable development with digital transformation, enhancing its readiness for future challenges. Sheikh Hamdan described the launch of the Hub as a strategic move to accelerate digital transformation in one of Dubai's key economic sectors. He highlighted that Dubai PropTech Hub will foster a supportive environment for real estate innovation, empowering talents and entrepreneurs to turn ideas into successful ventures. He added that it aims to strengthen Dubai's PropTech sector, attract quality investments, and enhance the emirate's global competitiveness. Sheikh Hamdan said Dubai has laid a strong foundation for a fully integrated digital economy through ambitious initiatives to advance technological innovation. He stressed that adopting the latest technologies is a strategic necessity to create a business environment that is geared for future challenges and growth in a rapidly evolving, competitive world. He said that Dubai's digital economy has become a distinct reality, underpinned by a flexible legal framework, advanced infrastructure, and robust support for startups and innovators. He emphasised that integrating key sectors such as real estate, commerce, and industry with emerging digital platforms is essential for sustainable growth and achieving the emirate's economic and social goals. The Dubai PropTech Hub aims to drive rapid growth in the property technology sector by adopting cutting-edge digital solutions, aligned with the Dubai Real Estate Sector Strategy 2033 and the Dubai Economic Agenda D33, which seek to double Dubai's economy and rank it among the world's top three cities within a decade. Dubai's PropTech market was valued at around Dhs2.2 billion in 2023, and the Hub aims to attract over Dhs1 billion investments by 2030, supporting more than 200 PropTech companies, and drawing 20 investment funds. The Hub offers a comprehensive ecosystem for startups, featuring advanced incubators, interactive workspaces, and smart outdoor areas that foster collaboration and innovation, alongside state-of-the-art infrastructure for developing and testing AI-driven business models. Sheikh Hamdan reviewed the committee's report, which outlined progress on major digital initiatives, including the '5,000 Digital Talents' initiative aimed at placing students in top global tech firms. The meeting also covered results from the previous Expand North Star, the world's largest event for startups and investors, and preparations for its next edition. Sheikh Hamdan was also updated on the IGNITE platform, which was launched recently, and seek to connect founders with a global network of investors, mentors, corporate organisations, and government entities, creating a comprehensive growth ecosystem. WAM
TECHx
20-05-2025
- Business
- TECHx
Dubai to Launch PropTech Hub to Boost AED4.5B Market
Home » Latest news » Dubai to Launch PropTech Hub to Boost AED4.5B Market His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum has announced the launch of The Dubai PropTech Hub. Sheikh Hamdan, Crown Prince of Dubai and Chairman of the Higher Committee for Future Technology and Digital Economy, chaired the committee's latest meeting and issued the directive. The Hub aims to accelerate the growth of the PropTech market, with a goal to more than double its value to over AED4.5 billion in five years. This move aligns with the Dubai Economic Agenda D33 and the Dubai Real Estate Sector Strategy 2033. It was revealed that the Hub will foster real estate innovation and position Dubai as a global PropTech leader. The new initiative also supports the emirate's digital transformation efforts across key sectors. Sheikh Hamdan reviewed the committee's business report during the meeting. The report assessed previous achievements, tracked progress on current initiatives, and explored new proposals to boost digital enterprise development. Sheikh Hamdan stated that Dubai, under the leadership of His Highness Sheikh Mohammed bin Rashid Al Maktoum, has become a hub for high-value investments and global talent. He noted that the real estate sector reflects this progress, supported by a balance between sustainability and digital transformation. He described the Hub as a strategic step toward accelerating innovation in one of Dubai's most vital economic sectors. The goal is to provide a nurturing environment for entrepreneurs and startups to turn innovative ideas into viable businesses. The Hub is expected to attract over AED1 billion in investments by 2030 It aims to support more than 200 PropTech companies and attract 20 investment funds Officials reported that Dubai's PropTech market was valued at AED2.2 billion in 2023. The new Hub will adopt cutting-edge digital tools to drive this figure higher, enhancing the sector's contribution to Dubai's economy. The ecosystem will include: State-of-the-art incubators and co-working spaces Smart outdoor areas and infrastructure for AI-powered model testing Sheikh Hamdan also reviewed the progress of major initiatives such as the '5,000 Digital Talents' program, which connects students with global tech companies. Other key updates included: Results from Expand North Star, the world's largest startup-investor event Developments around the IGNITE platform, designed to connect startups with investors, mentors, and government support The meeting was attended by top government and industry leaders, including His Excellency Omar bin Sultan Al Olama and members from Dubai Municipality, DIFC, Dubai Future Foundation, and TECOM Group. With this launch, Dubai reinforces its vision to lead in digital innovation and real estate technology on the global stage.
Gulf Business
20-05-2025
- Business
- Gulf Business
Dubai launches PropTech Hub to double sector value to Dhs4.5bn by 2030
Image: Dubai Media Office Dubai has launched the Dubai PropTech Hub in a move to fast-track on the directive of Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of the Higher Committee for Future Technology and Digital Economy. The initiative, launched during a committee meeting chaired by Sheikh Hamdan, is aimed at accelerating innovation and digital transformation within the real estate sector, aligning with the Dubai Economic Agenda D33 and the Dubai Real Estate Sector Strategy 2033. Dubai's PropTech market was valued at approximately Dhs2.2bn in 2023. The new hub targets over Dhs1bn in investments by 2030, supporting more than 200 proptech companies and attracting 20 investment funds. Hamdan bin Mohammed chaired a meeting of the Committee for Future Technology and Digital Economy and issued directives to launch the Dubai PropTech Hub. This initiative aims to accelerate the growth of the PropTech market in the emirate, targeting more than a doubling of its… — Dubai Media Office (@DXBMediaOffice) PropTech Hub will support startups, digital economy Sheikh Hamdan described the launch as a strategic step toward strengthening one of Dubai's key economic sectors. 'Dubai has laid a strong foundation for a fully integrated digital economy,' he said, adding that the hub will empower talents and entrepreneurs to turn ideas into ventures, enhancing Dubai's global competitiveness. He highlighted the emirate's flexible legal framework, advanced infrastructure, and strong startup ecosystem as enablers for the integration of real estate with emerging digital platforms. The Dubai PropTech Hub will offer a comprehensive environment for startups, including advanced incubators, interactive workspaces, smart outdoor areas, and infrastructure to develop and test AI-powered models. Read:
