Latest news with #PropertyTokenOwnershipCertificate
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.
