Latest news with #tokenisedrealestate
Zawya
4 days ago
- Business
- Zawya
PRYPCO Mint's first tokenised property fully funded in just one day
Dubai, UAE: Following its landmark launch, PRYPCO Mint, the MENA region's first tokenised real estate investment platform, has achieved a major milestone as its first property listing has been fully funded in just one day, setting a regional benchmark for speed, demand, and investor confidence. Launched by PRYPCO in strategic partnership with the Dubai Land Department (DLD), licensed by the Virtual Assets Regulatory Authority (VARA), and supported by Zand Bank as the strategic banking partner, PRYPCO Mint enables fractional investment in premium Dubai properties through blockchain-based tokens starting from just AED 2,000. The fully funded property attracted 224 investors from over 40 nationalities, with an average investment amount of AED 10,714, underscoring the platform's wide appeal and the growing appetite for accessible, tech-enabled real estate opportunities in the region. Amira Sajwani, Founder and CEO of PRYPCO, commented on the milestone, 'This milestone is a powerful validation of our vision. From the outset, PRYPCO Mint was built to redefine access to real estate, making it more inclusive, transparent, and efficient. To see our first property fully funded in just a day reflects not only the strength of the concept but also a clear market demand for smarter, more accessible investment solutions. It's a strong step forward in enabling Real Estate Freedom for all.' Built on Ctrl Alt's Web3 infrastructure, and backed by the Dubai Future Foundation, PRYPCO Mint converts tangible real estate assets into secure, digital tokens, each linked to a legally recognised Property Token Ownership Certificate issued by the DLD. This grants investors the same rights as traditional property ownership with none of the associated administrative burden, while enjoying benefits such as rental income, capital appreciation, and liquidity. The success of this first property listing reflects Dubai's commitment to becoming a global pioneer in tokenised real estate, in line with strategic initiatives including the Real Estate Evolution Strategy (REES), Dubai Economic Agenda (D33), and the Dubai Real Estate Strategy 2033, all of which aim to double the size of the city's economy and enhance transparency and investment accessibility. PRYPCO Mint is currently available exclusively to Emirates ID holders, with plans to open the platform to global investors in the coming months, reaffirming Dubai's status as the epicentre of blockchain-powered real estate innovation. About PRYPCO PRYPCO is a next-generation proptech company revolutionising the real estate landscape. Led by Amira Sajwani, PRYPCO delivers a range of innovative solutions, including PRYPCO Golden Visa, PRYPCO Mortgage, PRYPCO Blocks for fractional ownership, PRYPCO One for agents, and the recently launched PRYPCO Mint—the region's first tokenised real estate platform. Rooted in the spirit of Dubai's ambition, PRYPCO is driving the future of real estate, helping position the city as a global leader in innovation and opportunity.
The National
25-05-2025
- Business
- The National
Investors can now buy share of Dubai property for Dh2,000
Investors can pay as little as Dh2,000 for a slice of Dubai's tokenised real estate project after the Dubai Land Department (DLD) officially launched the pilot phase on Sunday. The sum will buy investors tokenised shares in ready-to-own properties in Dubai, with only UAE dirhams accepted for all transactions, the DLD said. Cryptocurrencies will not be accepted during the pilot phase. Currently, only Emirates ID holders will be able to invest in the project before it opens up to international investors. 'The platform is set to expand globally in the near future, with additional platforms to be integrated in later phases,' the Dubai government body said. The initiative 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. Zand Digital Bank has been appointed as the banking partner for the project's pilot phase. A partnership agreement between DLD, Prypco and Ctrl Alt Solutions will focus on attracting specialised asset tokenisation companies, while safeguarding investor rights. While the pilot phase of the project includes only two authorised companies, Prypco and Ctrl Alt, there are plans to open the market to other qualified firms in the future, DLD said. The project, announced in March, focuses on converting real estate assets into digital tokens recorded on blockchain, helping to streamline the process of buying, selling and investing. Real estate tokenisation enables fractional property ownership, where each asset is divided into shares based on investors' budget and financial strategy. This allows investors to acquire a portion of a property without fully purchasing it. Dubai's real estate tokenisation market is forecast to reach Dh60 billion ($16.33 billion) by 2033, representing 7 per cent of the emirate's total property transactions, according to government data. Through the digital platform investors can find information about property details ranging from pricing, risk factors, and technical specifications to the minimum investment required. The real estate tokenisation project is jointly managed by the DLD, as the regulator of physical real estate assets, and Vara as the regulatory body for digital assets to ensure a transparent regulatory framework, the DLD said. During the current phase, the CBUAE will oversee the opening of corporate accounts linked to real estate tokenisation through the Client Money Account (CMA), as part of a system designed to safeguard investor funds. Under this system, an investor's money is deposited into the CMA and not transferred to the tokenisation company until the purchase process is fully completed, to ensure security and transparency. The project's initial phase is limited to ready-to-own properties, and tokenisation is allowed only through companies licensed by the Vara, while DLD is responsible for reviewing and validating the fairness of property pricing before any listing is approved. 'Investors will benefit from both rental income and capital appreciation resulting from the property's appreciation, while holding a legally documented ownership share issued by Dubai Land Department – ensuring a transparent and secure investment experience without the complexities of traditional property management,' the DLD said. The latest announcement comes as Dubai's property market continues to perform strongly amid government initiatives such as residency permits for retired and remote workers, the expansion of the 10-year golden visa programme and strong economic growth and diversification efforts. The emirate recorded real estate deals worth Dh761 billion last year, up 20 per cent compared to 2023, with the total number of transactions for the year increasing by 36 per cent to 226,000, according to data provided by the Dubai Media Office. It also achieved a record in the sale of homes valued at more than $10 million last year, real estate consultancy Knight Frank said in a report last month. The emirate recorded 435 home sales valued at more than $10 million, up from 434 home sales in 2023 in the same category, with the total value of deals reaching $7 billion.
Gulf Business
25-05-2025
- Business
- Gulf Business
Dubai launches tokenised real estate investment project via ‘Prypco Mint'
Image: Dubai Media Office Dubai Land Department (DLD) has launched the Middle East and North Africa region's first tokenised real estate investment project through the 'Prypco Mint' platform. The initiative, part of Dubai's Real Estate Sandbox programme, is being carried out in collaboration with Prypco, and supported by the Virtual Assets Regulatory Authority (VARA), the Central Bank of the UAE, and the Dubai Future Foundation. Zand Digital Bank has been appointed as the banking partner for the pilot phase. The project enables users to invest in tokenised shares of ready-to-own properties in Dubai, with a minimum entry point of Dhs2,000. Currently, investments are accepted only in UAE dirhams, and the use of cryptocurrencies is not permitted at this stage. Available exclusively to UAE ID holders during the pilot, the platform is expected to expand globally in future phases. DLD, VARA, and the Central Bank of the UAE will oversee investor funds, ensuring a tightly regulated investment environment. 'This initiative is designed to open the market to small-scale investors by providing access through a regulated and transparent investment framework,' DLD said in a statement. Tokenised shares offer investors access to property ownership without the need for full capital outlay. The platform provides detailed information including pricing, risk assessments, and technical property specifications, allowing users to make informed decisions. Partnerships between DLD, Prypco, and Ctrl Alt Solutions The move stems from a partnership between Investor protection is further enhanced by a dedicated Client Money Account (CMA) system overseen by the Central Bank, which holds funds until purchases are completed. The initiative supports the objectives of the Dubai Real Estate Sector Strategy 2033 and the Dubai Economic Agenda D33, which aim to position Dubai as the world's leading smart city for real estate investment. All tokenised offerings during the pilot phase must come from companies licensed by VARA. Currently, two firms — Prypco and Ctrl Alt — are authorised. Investors will benefit from both rental income and capital gains, with legal documentation of ownership issued by DLD. The project is part of DLD's broader Real Estate Evolution Space Initiative (REES), which promotes the integration of proptech and artificial intelligence into the sector.
The National
25-05-2025
- Business
- The National
For would be investors, the Dubai property market just became more affordable
Investors can pay as little as Dh2,000 for a slice of Dubai's tokenised real estate project after the Dubai Land Department (DLD) officially launched the pilot phase on Sunday. The sum will buy investors tokenised shares in ready-to-own properties in Dubai, with only UAE dirhams accepted for all transactions, the DLD said. Cryptocurrencies will not be accepted during the pilot phase. Currently, only Emirates ID holders will be able to invest in the project before it opens up to international investors. 'The platform is set to expand globally in the near future, with additional platforms to be integrated in later phases,' the Dubai government body said. The initiative 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. Zand Digital Bank has been appointed as the banking partner for the project's pilot phase. A partnership agreement between DLD, Prypco and Ctrl Alt Solutions will focus on attracting specialised asset tokenisation companies, while safeguarding investor rights. While the pilot phase of the project includes only two authorised companies, Prypco and Ctrl Alt, there are plans to open the market to other qualified firms in the future, DLD said. The project, announced in March, focuses on converting real estate assets into digital tokens recorded on blockchain, helping to streamline the process of buying, selling and investing. Real estate tokenisation enables fractional property ownership, where each asset is divided into shares based on investors' budget and financial strategy. This allows investors to acquire a portion of a property without fully purchasing it. Dubai's real estate tokenisation market is forecast to reach Dh60 billion ($16.33 billion) by 2033, representing 7 per cent of the emirate's total property transactions, according to government data. Through the digital platform investors can find information about property details ranging from pricing, risk factors, and technical specifications to the minimum investment required. The real estate tokenisation project is jointly managed by the DLD, as the regulator of physical real estate assets, and Vara as the regulatory body for digital assets to ensure a transparent regulatory framework, the DLD said. During the current phase, the CBUAE will oversee the opening of corporate accounts linked to real estate tokenisation through the Client Money Account (CMA), as part of a system designed to safeguard investor funds. Under this system, an investor's money is deposited into the CMA and not transferred to the tokenisation company until the purchase process is fully completed, to ensure security and transparency. The project's initial phase is limited to ready-to-own properties, and tokenisation is allowed only through companies licensed by the Vara, while DLD is responsible for reviewing and validating the fairness of property pricing before any listing is approved. 'Investors will benefit from both rental income and capital appreciation resulting from the property's appreciation, while holding a legally documented ownership share issued by Dubai Land Department – ensuring a transparent and secure investment experience without the complexities of traditional property management,' the DLD said. The latest announcement comes as Dubai's property market continues to perform strongly amid government initiatives such as residency permits for retired and remote workers, the expansion of the 10-year golden visa programme and strong economic growth and diversification efforts. The emirate recorded real estate deals worth Dh761 billion last year, up 20 per cent compared to 2023, with the total number of transactions for the year increasing by 36 per cent to 226,000, according to data provided by the Dubai Media Office. It also achieved a record in the sale of homes valued at more than $10 million last year, real estate consultancy Knight Frank said in a report last month. The emirate recorded 435 home sales valued at more than $10 million, up from 434 home sales in 2023 in the same category, with the total value of deals reaching $7 billion.
