Latest news with #digitalrealestate
Gulf Business
2 days ago
- Business
- Gulf Business
Dubai's second tokenised property fully funded in under 2 minutes
Image credit: WAM/Website In a record-setting move that highlights Dubai's growing leadership in digital real estate, the Dubai Land Department announced that its second tokenised property project on the 'PRYPCO Mint' platform was fully funded in just one minute and 58 seconds. Read- The project is part of Dubai Land Department's Property Tokenisation Initiative, under which PRYPCO Mint enables investors to purchase fractional shares in ready-to-own properties through a seamless and cost-effective digital platform. Officials say the success of the platform signals a broader shift toward tokenised assets playing a central role in Dubai's property market by 2033. As the initiative expands with more projects and partnerships, the department is encouraging early registration to access future offerings before they sell out. Dubai continues to position itself as a global leader in innovative and accessible real estate investment.
Trade Arabia
3 days ago
- Business
- Trade Arabia
DLD achieves key milestone with tokenised real estate sell-out
Dubai Land Department (DLD) has announced that its second tokenised project on the 'Prypco Mint' platform was fully funded in a record-breaking one minute and 58 seconds, attracting 149 investors from 35 nationalities. This unprecedented 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, said DLD in a statement. By enabling investors to purchase shares in ready properties through seamless and cost-effective mechanisms, Prypco Mint is setting new standards for market accessibility. As the platform expands its projects and partnerships, it is helping to shape a future where tokenised assets are expected to become a central part of Dubai's property market by 2033, it stated. Amid this momentum, DLD has called upon interested individuals to register early and set up their accounts to take advantage of upcoming offerings before they get sold out. This ongoing success underscores the effectiveness of the platform, which is officially accredited under DLD's Property Tokenisation Initiative, it added.
Zawya
3 days ago
- Business
- Zawya
The second tokenized project on the ‘PRYPCO Mint' platform was sold out in a record-breaking one minute and 58 seconds
The project attracted 149 investors from 35 nationalities The waiting list included over 10,700 potential investors Dubai, United Arab Emirates: In a landmark move that reinforces Dubai's leadership in the real estate sector, Dubai Land Department announced that its second tokenized project on the 'PRYPCO Mint' platform was fully funded in a record-breaking one minute and 58 seconds, attracting 149 investors from 35 nationalities. This unprecedented 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. This ongoing success underscores the effectiveness of the platform, which is officially accredited under Dubai Land Department's Property Tokenization Initiative. By enabling investors to purchase shares in ready properties through seamless and cost-effective mechanisms, PRYPCO Mint is setting new standards for market accessibility. 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.
Economy ME
3 days ago
- Business
- Economy ME
Dubai's second tokenized property sells out in record-breaking one minute and 58 seconds
The Dubai Land Department announced on Wednesday that its second tokenized property on the PRYPCO Mint platform was fully funded in a record-breaking one minute and 58 seconds, attracting 149 investors from 35 nationalities. This landmark move reinforces Dubai's leadership in the real estate sector, reflecting rising investor confidence and strong interest in digital real estate ownership solutions across the emirate. The unprecedented demand for the project pushed the waiting list to over 10,700 investors. Dubai sets new standards for market accessibility This ongoing success underscores the effectiveness of the PRYPCO Mint platform, which is officially accredited under the Dubai Land Department's Property Tokenization Initiative. By enabling investors to purchase shares in ready properties through seamless and cost-effective mechanisms, the platform is setting new standards for market accessibility. 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. Read: Is now the right time to buy real estate in Dubai? MENA's first-ever fully tokenized real estate transaction Dubai's second tokenized property featured a one-bedroom apartment in Dubai's Kensington Waters, Mohammed Bin Rashid City, with a total valuation of AED1.5 million, offered at a discounted rate compared to its estimated market value of AED1.875 million, giving investors instant equity and value. Through fractional ownership starting from just AED2,000, the launch continued PRYPCO Mint's mission to make premium real estate accessible to a new generation of investors. Launched on May 25, 2025, PRYPCO Mint, a joint initiative between the Dubai Land Department (DLD) and PRYPCO and licensed by the Virtual Assets Regulatory Authority (VARA), made history with MENA's first-ever fully tokenized real estate transaction, opening the doors to a new asset class for residents across the UAE. The platform's first tokenized property, a two-bedroom apartment in Dubai's Business Bay, attracted 224 investors from over 40 nationalities, with an average investment of AED10,714. Listed at AED2.4 million, below its DLD valuation of AED2.89 million, the listing was fully funded within one day, signalling strong demand for transparent, tech-enabled and value-driven real estate products. In addition, the Dubai Land Department issued Property Token Ownership Certificates to the first cohort of investors, officially recognizing this new form of blockchain-backed ownership. This regulatory milestone represents a key moment in institutionalizing tokenized real estate within Dubai's robust legal framework.
