Latest news with #DubaiRealEstateStrategy2033
Dubai Eye
2 days ago
- Business
- Dubai Eye
Dubai's new real estate tokenised platform draws 6,000+ to waitlist
The Dubai Land Department (DLD) has issued its first Property Token Ownership Certificate, a blockchain-based document that formalises fractional ownership of real estate in the emirate. This follows the quick sell-out of the first tokenised property on the Prypco Mint platform, completed within just one day of launch. The platform, licenced by the Virtual Assets Regulatory Authority (VARA) and created in partnership with the DLD, allows individuals to invest in real estate using tokenisation - a process that divides a property into smaller, affordable digital shares. These shares can be purchased by investors, opening the door to property ownership without needing to buy an entire unit. The initiative has already attracted 224 investors, with 70 per cent investing in Dubai's real estate market for the first time. Participants came from 44 nationalities, and the average investment per person was approximately AED 10,714. Interest in the platform continues to grow, with over 6,000 people currently on the waitlist. This project is part of the Real Estate Tokenisation Initiative, supported by the Central Bank of the UAE and the Dubai Future Foundation, and developed through Real Estate Sandbox. By making real estate more accessible, this initiative aims to expand the investor base, speed up transactions, and enhance transparency, aligning with long-term goals under the Dubai Real Estate Strategy 2033 and the Dubai Economic Agenda D33. Looking ahead, the DLD is working to allow more real estate developers to list their projects on Prypco Mint — a move that could further reshape how people invest in property, both in the UAE and beyond.
ARN News Center
3 days ago
- Business
- ARN News Center
Dubai's new real estate tokenised platform draws 6,000+ to waitlist
The Dubai Land Department (DLD) has issued its first Property Token Ownership Certificate, a blockchain-based document that formalises fractional ownership of real estate in the emirate. This follows the quick sell-out of the first tokenised property on the Prypco Mint platform, completed within just one day of launch. The platform, licenced by the Virtual Assets Regulatory Authority (VARA) and created in partnership with the DLD, allows individuals to invest in real estate using tokenisation - a process that divides a property into smaller, affordable digital shares. These shares can be purchased by investors, opening the door to property ownership without needing to buy an entire unit. The initiative has already attracted 224 investors, with 70 per cent investing in Dubai's real estate market for the first time. Participants came from 44 nationalities, and the average investment per person was approximately AED 10,714. Interest in the platform continues to grow, with over 6,000 people currently on the waitlist. This project is part of the Real Estate Tokenisation Initiative, supported by the Central Bank of the UAE and the Dubai Future Foundation, and developed through Real Estate Sandbox. By making real estate more accessible, this initiative aims to expand the investor base, speed up transactions, and enhance transparency, aligning with long-term goals under the Dubai Real Estate Strategy 2033 and the Dubai Economic Agenda D33. Looking ahead, the DLD is working to allow more real estate developers to list their projects on Prypco Mint — a move that could further reshape how people invest in property, both in the UAE and beyond.
Hi Dubai
3 days ago
- Business
- Hi Dubai
Dubai Land Department Launches World's First Property Token Ownership Certificate
Dubai has cemented its status as a global pioneer in real estate innovation with the launch of the world's first Property Token Ownership Certificate, following the successful debut of a tokenized real estate project on the Prypco Mint platform. Licensed by the Virtual Assets Regulatory Authority (VARA), Prypco Mint saw its inaugural property token offering sell out within just one day. The launch drew 224 investors, 70% of whom were first-time entrants to Dubai's real estate market, reflecting strong interest in low-barrier, digitally driven ownership models. Investors hailed from 44 nationalities, with the average investment amounting to AED10,714. The initiative is part of the Dubai Land Department's Real Estate Tokenization project, developed in collaboration with VARA, the Central Bank of the UAE, and Dubai Future Foundation under the Real Estate Sandbox framework. It aims to make property investment more accessible, transparent, and efficient, in line with the Dubai Real Estate Strategy 2033 and the Dubai Economic Agenda D33. The response has been overwhelming, with a waitlist now exceeding 6,000 potential investors, underlining the growing global appetite for digital property assets. The department is also working to onboard real estate developers onto the platform, expanding the scope of tokenized investment opportunities. This move not only diversifies Dubai's investor base but also signals a shift toward a more inclusive, tech-enabled real estate market. News Source: Emirates News Agency
Hi Dubai
09-05-2025
- Business
- Hi Dubai
Dubai Land Department Wins National Recognition for Anti-Fraud Excellence
The Dubai Land Department (DLD) has been honored under the 'Best Practices – Anti-Fraud Category' by the UAE Internal Auditors Association, marking a major milestone in its efforts to promote transparency and integrity across the real estate sector. The award highlights DLD's pioneering work in developing an integrated fraud risk management system that not only aligns with international standards but also strengthens stakeholder trust in Dubai's property market. The recognition underscores DLD's leadership in institutional integrity and its commitment to enhancing corporate governance. DLD's approach includes advanced data analytics tools for early fraud detection, smart whistleblowing platforms, and continuous updates to internal policies based on global benchmarks such as those set by the Association of Certified Fraud Examiners (ACFE). Faisal Al Taheri, Director of the Internal Audit & Risk Department at DLD, credited the achievement to the department's focus on transparency, accountability, and collaboration. 'This recognition is the result of integrated efforts across the DLD's divisions and the active support of our strategic partners,' he said, adding that it reflects DLD's mission to support Dubai's broader economic and real estate goals. The department's audit and oversight strategies are closely aligned with global best practices, reinforcing Dubai's position as a secure and attractive destination for real estate investment. This award supports the objectives of the Dubai Economic Agenda D33 and the Dubai Real Estate Strategy 2033, both of which aim to elevate the emirate's global standing. By setting new standards in fraud prevention, the DLD continues to contribute to the long-term sustainability and competitiveness of Dubai's real estate sector, strengthening its role in the emirate's strategic vision for growth and governance. News Source: Emirates News Agency
Mid East Info
08-05-2025
- Business
- Mid East Info
Dubai Land Department reinforces principles of transparency and promotes a culture of integrity within its operational framework
Dubai Land Department DLD was recognised under the 'Best Practices – Anti-Fraud Category' by the UAE Internal Auditors Association, in recognition of its pioneering efforts in developing an integrated system for fraud risk management and prevention. The award also acknowledges DLD's commitment to enhancing transparency and promoting a culture of integrity across the real estate sector. This award reaffirms DLD's position as a leading institution in adopting effective anti-fraud practices grounded in strong institutional values and driven by an integrated approach aimed at achieving tangible impact, advancing transparency maturity, and reinforcing the principle of professional integrity. It also reflects the Department's efforts in aligning its audit and oversight strategies with international standards, thereby enhancing the efficiency of its transparency framework and strengthening the trust of stakeholders and partners in Dubai's real estate environment. DLD distinguished itself by adopting a proactive approach that leverages the latest data analytics tools, launching smart platforms for whistleblowing, and updating policies and procedures in line with global best practices set by the Association of Certified Fraud Examiners (ACFE). These efforts have significantly enhanced early fraud detection capabilities and strengthened the institutional integrity environment. On this occasion, Faisal Al Taheri, Director of the Internal Audit & Risk Department at DLD, said: 'This achievement is a culmination of our ongoing efforts to strengthen the principles of transparency and accountability, and a testament to our commitment to applying best practices in internal auditing and fraud risk management. This recognition is the result of integrated efforts across the DLD's divisions and the active support of our strategic partners from the early planning stages to this moment of achievement, reflecting the strength of our collaborative institutional work. We are proud to contribute to Dubai's journey toward attaining the highest standards of corporate governance and look forward to continuing our innovation in supporting the business environment and the sustainability of the real estate sector.' This win embodies the DLD's commitment to Dubai's strategic vision of strengthening trust in the real estate sector and cementing the Emirate's position as a global investment destination, in alignment with the objectives of the Dubai Economic Agenda D33 and the Dubai Real Estate Strategy 2033.
