Latest news with #MohammedBinRashidCity
Khaleej Times
24-06-2025
- Business
- Khaleej Times
World's first MANSORY Residences launched with Amaal in Dubai
Amaal, the visionary Emirati-founded real estate developer, has officially launched its landmark partnership with automotive design icon MANSORY to co-create the MANSORY Residences, an ultra-luxury residential tower in Dubai. This collaboration marks MANSORY's first global venture into real estate and architectural design, introducing a new chapter for this renowned brand within the world of high-end living. Valued at Dh1.8 billion, the project reflects both design ambition and market demand for collectable, design-led properties. Set within Mohammed Bin Rashid City as part of the prestigious Meydan Horizon masterplan, MANSORY Residences will stand tall across 48 floors with a total built-up area of almost 142,800 sq m, offering an exclusive blend of MANSORY's signature design elements in its interiors from the lobby and bespoke amenities, to VIP parking experiences. The residences will range from one- to three-bedroom layouts and 8 full-floor penthouse residences. The project is currently in advanced design planning and is scheduled for completion in Q4 2028. "This partnership marks a bold step forward in redefining the standards of luxury living in the UAE," saidAbdulla Lahej, chairman of Amaal. "By partnering with MANSORY, we are bringing a living experience that truly resonates with today's high-net-worth buyers. Dubai's luxury property market continues to thrive, with $1.9 billion in sales recorded in Q1 2025 alone, and MANSORY Residences will meet this growing demand for design-led, collectable real estate. This is just the beginning of an exciting journey, and we look forward to unveiling what's to come." Designed in collaboration with MANSORY, the interiors merge high-performance aesthetics with elevated residential comfort. Precision detailing and sculptural forms evoke the fluid lines of luxury vehicles, while layered lighting and bespoke material choices, including leather-wrapped furnishings, brushed metals, and custom wood finishes, create a distinct sensory experience. Kitchens integrate concealed mechanisms for streamlined functionality, and bedrooms are shaped by upholstered accents and refined textures. The result is a uniquely crafted space that blends innovation, elegance, and the high standard of MANSORY's design philosophy. Kourosh Mansory, founder of MANSORY, commented: "This project represents a milestone for our brand. Collaborating with Amaal allows us to bring our signature design philosophy into a new space shaped by their approach to luxury. It's where engineering excellence meets artful living; a softer, residential expression of the bold, distinctive craftsmanship that has defined MANSORY for decades. Our shared vision is to deliver an elevated lifestyle where every detail, from materials to ambience, reflects precision craftsmanship and individuality. This project will set a new global benchmark for bespoke living in one of the world's most dynamic cities." Amaal and MANSORY have created a suite of world-class amenities across three levels, designed to offer residents a lifestyle of comfort, wellness, and high-performance living. A curated selection of premium retail outlets brings convenience to residents' doorsteps. They can access padel courts and mini golf experiences, indoor and outdoor gyms, a yoga studio, separate spa areas for men and women, two infinity pools, an indoor cinema, and dedicated play areas for children. Community zones include exclusive MANSORY lounges, a spacious terrace, creative workspaces, an outdoor multipurpose area, restaurants, and multiple open-air dining zones. The development also includes eight floors of dedicated parking amenities, with two floors reserved for VIP, showroom-style display, and an integrated car elevator ensures seamless access. Exclusive vehicle well-keeping services offer owners peace of mind and pristine care for their prized cars, adding to the automotive-inspired luxury lifestyle. For the modern homeowner, MANSORY Residences will integrate advanced smart home and automation technologies throughout the tower. Residents will benefit from seamless control over lighting, climate, security, and even parking, designed to enhance convenience, energy efficiency, and daily living. Beyond the architecture, MANSORY Residences merges design innovation, elite collaboration, and timeless value into a single address. With the UAE now home to 130,500 dollar millionaires and ranked as the 14th largest wealth market globally, real estate remains a preferred vehicle for wealth preservation. For discerning investors, MANSORY Residences is both a lifestyle asset and a future-proof investment.
Zawya
18-06-2025
- Business
- Zawya
Ellington Properties advances digital innovation in real estate, supports Dubai's property tokenization initiative
Fractional ownership starts from AED 2,000, backed by official certification and powered by blockchain technology The unit sold out within one minute of launch, reflecting strong market appetite for fractional ownership This collaboration aligns with national efforts to redefine property ownership models and expand opportunities for a new generation of tech-savvy investors Dubai, UAE – Ellington Properties, Dubai's leading design-led real estate developer, has announced its support for the emirate's second tokenized property initiative, reinforcing its commitment to innovative real estate solutions. As part of this milestone project, Ellington has contributed a residential unit at Kensington Waters, a premium development located in Mohammed Bin Rashid City, enabling fractional ownership through secure, blockchain-based digital tokenization. The initiative marks a significant step forward in democratizing real estate investment. With investment entry points starting from AED 2,000, tokenized shares of the unit at the Kensington Waters offer broader, more inclusive access to Dubai's thriving property market. Moreover, each share is backed by official certification and powered by blockchain technology, ensuring transparency and security. Joseph Thomas, Co-Founder of Ellington Properties, said: Supporting this transformative national initiative reflects our commitment to innovation and to making design-led real estate more accessible. We believe real estate tokenization is a major leap forward in reshaping how people interact with and invest in property, and we are proud to be among the first developers in Dubai to embrace it.' This collaboration not only reinforces Ellington's forward-thinking approach but also supports Dubai's broader vision of solidifying its position as a leading hub for the world's most thriving digital economy. By supporting the integration of blockchain technology with real estate, Ellington Properties aims to redefine property ownership models and expand opportunities for a new generation of tech-savvy investors. The selected property, Kensington Waters, exemplifies Ellington's commitment to thoughtful design and modern living. Recently handed over, the development is inspired by the natural elements of water, echoing wellness, health, and happiness, offering a haven of beauty in the heart of Mohammed Bin Rashid City. About Ellington Properties Ellington Properties is Dubai's leading design-led real estate developer, dedicated to crafting beautiful properties and communities for high-quality lifestyles. Renowned for its customer-centric approach, Ellington Properties develops residences characterized by incredible artistry and impeccable architecture. The company's diverse portfolio includes communities across Dubai, such as Downtown Dubai, Business Bay, Dubai Hills, Palm Jumeirah, Mohammed Bin Rashid City (MBR City), and Dubai Islands, among others, as well as in Ras Al Khaimah, including Al Marjan Islands and Hayat Island. Ellington Properties combines thoughtful design, art, and lifestyle curation to create sanctuaries of personalized living experiences. For more information, visit For all media inquiries contact: Kashish Punjabi | Amjad Mkayed Ruder Finn Atteline Email: ellington@
The National
12-06-2025
- Business
- The National
How real estate tokenisation aims to make buying property in Dubai affordable
Dubai's second tokenised real estate project sold out in a record-breaking time of less than two minutes, the emirate's Land Department said, illustrating the high demand amid a housing boom. The property is a one-bedroom apartment in Kensington Waters, Mohammed Bin Rashid City, valued at Dh1.5 million ($408,441), offered at a discounted rate compared to its estimated market value of Dh1.8 million, project promoters Prypco said in a statement. It attracted 149 investors. UAE residents holding valid Emirates IDs can pay as little as Dh2,000 for a share of this new property. The scheme is expected to open to international investors in its next phase, the company said. Launched on May 25, it is being implemented by Prypco Mint platform, in collaboration with Dubai's Virtual Assets Regulatory Authority (Vara), the UAE Central Bank and the Dubai Future Foundation (DFF) through the Real Estate Sandbox. The platform's first property, a two-bedroom apartment in Business Bay, attracted 224 investors, with an average input of Dh10,714. Listed at Dh2.4 million, below its Dubai Land Department (DLD) valuation of Dh2.89 million, it was fully funded within one day. The land department has invited those interested to register early and set up their accounts to take advantage of coming offerings before they sell out. Tokenisation caters to a particular segment in the market, featuring people who wanted to join the real estate party but never had the invitation, said Mario Volpi, head of brokerage at Novvi Properties. "It's relatively easy to buy in and buy out. However, there is just one company offering it now. So it's a bit of a closed shop in that respect." What is property tokenisation? At a basic level, tokenisation converts a physical real estate asset into digital shares – known as tokens – recorded on a blockchain. Each token represents fractional ownership in the property, allowing a number of investors to participate at a lower entry point than traditional real estate, said P.P. Varghese, head of professional services at Cushman & Wakefield Core. "In principle, it's an alternative way to structure and record ownership, but the underlying asset remains the same: the property still exists, generates income and requires the same fundamentals to perform over time," he said. "Tokenisation doesn't replace the traditional drivers of value in real estate. Asset quality, location, tenancy, governance and market dynamics continue to be the factors that ultimately determine an asset's performance. The technology may change how ownership is accessed and traded, but it doesn't change what makes a property successful." How to invest under this model? Currently in Dubai, investors are being encouraged to contact the DLD to express interest in available projects, said Matthew Green, head of research - Mena at CBRE. "However, over time, we would expect the market to open up further, with different avenues to acquire these assets to emerge, likely through a combination of official government channels and also directly through other market participants, including developers, funds and other registered entities." Risks and returns In terms of returns, tokenised real estate mirrors traditional property investment: rental yields, capital appreciation and long-term market growth. Where tokenisation introduces additional variables is in liquidity, pricing transparency, regulatory oversight and platform stability – all of which remain relatively early stage in most global markets, including Dubai, Cushman & Wakefield Core said. "We advise investors to approach tokenisation with the same discipline they would apply to any other real estate investment," Mr Varghese said. "The structure may allow fractional access, but the underlying asset still requires thorough due diligence." CBRE's Mr Green highlighted how the tokenised asset is open to fluctuations in the supply and demand of property, and related pricing. Outside of that, the risks are related to technology, the systems and platforms that house and trade these assets, he added. Advantages and disadvantages Tokenisation ultimately helps to expand a market by diversifying the investor pool, creating liquidity, removing barriers to entry (time, location, investment size, etc) and facilitating an easier and quicker method to participate in the market, Mr Green said. From a developer or owner perspective, it also creates another potential avenue for divestment, offering a tangible alternative for project fund-raising, while at the same time also attracting an entirely new source of investors to enter the market, he added. However, Mr Varghese said the disadvantages are equally important to acknowledge. The regulatory frameworks are still developing, platforms vary in quality and oversight, and in many cases, secondary trading markets remain thin. "Transaction costs can also become disproportionately high, particularly at the smaller investment sizes that tokenisation often targets. When you factor in platform fees, blockchain gas fees, legal expenses and regulatory compliance costs, the total cost of entry can easily exceed what investors might pay in a conventional real estate transaction," he warned. "For very small ticket sizes - say, investments of $100 - these fixed costs can quickly erode returns. Even dividend payouts can be costly to process at scale, depending on the platform architecture." There are also valuation challenges specific to tokenised assets, Mr Varghese said. "While fractional ownership creates access, it can reduce liquidity compared to traditional whole-asset ownership, which may lead investors to apply discounts when pricing tokens. Conversely, at times of heightened retail interest, tokens may trade at premiums that don't fully reflect underlying asset fundamentals. That can create disconnects between actual property performance and token pricing," he explained. Value of tokenised real estate market The land department projects Dubai's real estate tokenisation market to reach Dh60 billion by 2033, representing 7 per cent of the emirate's total property transactions. "Dubai has many of the ingredients in place to explore tokenisation at scale: an openness to financial innovation, strong regulatory bodies, and significant cross-border capital flows," Mr Varghese said. "The market is watching the evolution of tokenisation carefully, and we expect to see early activity particularly in smaller-scale residential and niche assets. It's likely that tokenisation will find its place in the market over time, but for now, it's more complementary than entirely disruptive."
Khaleej Times
11-06-2025
- Business
- Khaleej Times
Dubai: Second tokenised property sold in record time of under 2 minutes
The second tokenised property was fully funded in a record-breaking one minute and 58 seconds, attracting 149 investors from 35 nationalities, the Dubai Land Department said on Wednesday. This strong demand pushed the waiting list to over 10,700 investors, reflecting rising confidence and strong interest in digital real estate ownership solutions across the emirate, it said. 'The demand blew us away. Tokens were snapped up faster than anyone expected, and your belief and swift action made this possible. Don't worry, our next property drop is coming soon,' Prypco said after the property was sold in a record time. The first tokenised project was fully funded within a day. The property attracted 224 investors from over 40 nationalities, with an average investment amount of Dh10,714. In May, the Dubai Land Department (DLD) launched the region's first tokenised real estate investment project through the 'Prypco Mint' platform in collaboration with the Virtual Assets Regulatory Authority (Vara), the Central Bank of the UAE, the Dubai Future Foundation (DFF) through the Real Estate Sandbox. The platform allows fractional investment in premium Dubai properties through blockchain-based tokens starting from just Dh2,000. The first tokenized unit was based in one of Damac Properties projects in Business Bay while the second listing featured a one-bedroom apartment at Kensington Waters in Mohammed Bin Rashid City, developed by Ellington. Both the properties were priced below market to attract more investors. 'As the platform expands its projects and partnerships, it is helping to shape a future where tokenized assets are expected to become a central part of Dubai's property market by 2033. Amid this momentum, Dubai Land Department invites interested individuals to register early and set up their accounts to take advantage of upcoming offerings before they sell out, unlocking investment opportunities in one of the world's most dynamic and innovative real estate destinations,' the Dubai Land Department said on Wednesday.
Arabian Business
11-06-2025
- Business
- Arabian Business
Dubai tokenised real estate project sold out in less than 2 minutes on PRYPCO Mint platform
The Dubai Land Department (DLD) revealed that the second tokenised property on the PRYPCO Mint platform sold out in one minute and 58 seconds — setting a new record for digital property investment in the emirate. The project attracted 149 investors from 35 different nationalities, underlining Dubai's growing appeal as a global hub for accessible, technology-driven real estate opportunities. Demand for the offering has surged so dramatically that the waiting list surpassed 10,700 potential investors. Dubai tokenised real estate project sold out in less than 2 minutes The platform is part of Dubai Land Department's official Property Tokenisation Initiative, designed to democratise property investment by allowing fractional ownership of real estate assets. Through PRYPCO Mint, investors can purchase shares in ready properties quickly and securely, using an entirely digital process that lowers traditional barriers to entry. Partial ownership is available from just AED2,000 ($545). The sold-out listing featured a one-bedroom apartment in the prestigious Kensington Waters, located in Mohammed Bin Rashid City. Valued at AED1.875m ($510,500), the apartment was offered at a discounted rate of AED1.5m ($408,000), providing investors immediate equity and value.
