The Dubai Land Department has launched today the world’s first property token ownership certificate following the successful sale of the first tokenized real estate project on the Prypco Mint platform, licensed by VARA, within just one day of launch.
This milestone reinforces Dubai’s position as a global leader in real estate innovation and digital transformation.
First project attracts 224 investors
The first project launched under the Real Estate Tokenization Initiative attracted 224 investors, 70 percent of whom entered Dubai’s real estate market for the first time. This highlights strong investor confidence and the accessibility provided by flexible, low-cost digital solutions. Investors represented 44 nationalities, and the average individual investment amounted to AED10,714.
As the region’s first platform of its kind, the Dubai Land Departmen’s initiative continues to draw significant interest, with the waitlist exceeding 6,000 requests. This surge in demand reflects Dubai’s growing appeal to new segments of global investors seeking innovative and accessible property ownership models.
Dubai Land Department developed the real estate tokenization project in collaboration with the Virtual Assets Regulatory Authority (VARA), the Central Bank of the UAE and the Dubai Future Foundation (DFF) through the Real Estate Sandbox.
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Dubai expands real estate investor base
The project is being executed through the Prypco Mint platform, which enables fractional investment in premium Dubai properties through blockchain-based tokens starting from just AED2,000. 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.
With this initiative, the Dubai Land Department aims to expand the real estate investor base while enhancing transparency and accelerating transaction processes, in line with the Dubai Real Estate Strategy 2033 goals and the Dubai Economic Agenda D33.
The Dubai Land Department is currently working to enable real estate developers to list their projects on the platform, further expanding the initiative’s scope and unlocking new opportunities for digital property investment.
