Dubai’s initiative to digitise property ownership is rapidly advancing. Over 6,000 individuals have already registered on the waitlist for ‘Prypco Mint’—a newly approved property tokenisation platform by the Dubai Land Department (DLD). This surge in interest follows the immediate sell-out of the platform’s inaugural project on its launch day.
A total of 224 investors representing 44 nationalities acquired stakes in the project, with the average individual investment amounting to Dh10,714. Notably, 70% of these investors were first-time participants in Dubai’s property market, indicating that the city’s accessible digital entry points are attracting new global capital.
To commemorate this achievement, the DLD has introduced the world’s first Property Token Ownership Certificate—a blockchain-based document that formalises fractional ownership of real estate within the emirate.
A spokesperson for the DLD stated, “This initiative transcends the mere sale of digital assets; it’s about opening up Dubai’s property market to a global audience.”
Digital Property Revolution Commences
Licensed by the Virtual Assets Regulatory Authority (VARA), the Prypco Mint platform is the first of its kind in the region. It is the result of a collaborative effort between the DLD, the UAE Central Bank, the Dubai Future Foundation (DFF), and VARA, all operating under the Dubai Real Estate Sandbox framework.
This development aligns with the broader objectives of the Dubai Economic Agenda D33 and the Dubai Real Estate Strategy 2033, both aiming to expedite real estate transactions and enhance transparency and accessibility for a global clientele.
The DLD is currently working to onboard additional real estate developers to list their projects on the platform, thereby broadening access to digital property investment opportunities.
