Dubai’s real estate market is rapidly embracing tokenisation, with more than 6 000 individuals joining the waitlist for Prypco Mint, a new platform that enables users to purchase fractional shares of property through secure digital tokens. This innovative approach is revolutionizing how people invest in real estate in the emirate.

Credit: WAM

The Dubai Land Department (DLD) has taken a significant step by issuing its first Property Token Ownership Certificate. This blockchain-based document formalizes fractional ownership of real estate in Dubai. The launch of the Prypco Mint platform saw its first tokenised property sell out within just one day, highlighting the demand for this type of investment.

Prypco Mint, which is licensed by the Virtual Assets Regulatory Authority (VARA) and developed in collaboration with the DLD, allows individuals to invest in real estate by dividing properties into smaller, more affordable digital shares. This system enables investors to become property owners without the necessity of purchasing an entire unit. So far, the initiative has attracted 224 investors, with 70 percent being first-time investors in Dubai’s real estate market. Participants hail from 44 different nationalities, with the average investment per individual being around AED 10 714.

As interest in the platform continues to surge, the waitlist has grown to over 6 000 individuals. This project is part of the Real Estate Tokenisation Initiative, which is supported by the Central Bank of the UAE and the Dubai Future Foundation, and was developed through the Real Estate Sandbox.

The initiative aims to enhance accessibility to real estate investments, expand the investor base, expedite transactions, and improve transparency. These goals align with the long-term objectives outlined in the Dubai Real Estate Strategy 2033 and the Dubai Economic Agenda D33.

Looking forward, the DLD is planning to enable more real estate developers to list their projects on Prypco Mint, a strategic move that could further transform property investment practices in the UAE and beyond.