Extended News Description: More than 6,000 enthusiastic investors have signed up for the city’s recently launched tokenised real estate ownership platform, Prypco Mint, marking a futuristic leap for Dubai’s real estate industry. This cutting-edge initiative, powered by blockchain technology, enables buyers to own fractional shares of properties—marking a shift from traditional ownership to digital certificates backed by smart contracts.
To verify this innovative method of property ownership, the Dubai Land Department (DLD) has formally issued the first Property Token Ownership Certificate in history. 224 buyers of 44 different nationalities bought tokenised shares in the first sale, with an average investment of AED 10,714 per person. Surprisingly, 70% of them were first-time investors in Dubai’s real estate market, indicating a high level of demand for easily accessible and transparent real estate prospects worldwide.
This project is part of the Dubai Real Estate Strategy 2033 and the broader Dubai Economic Agenda D33, which aim to modernize property transactions, reduce bureaucratic hurdles, and attract more diverse investment. Currently, only UAE citizens with Emirates IDs can access the Prypco Mint platform; however, in the following phases, international investor access is anticipated to be made available.
Dubai is establishing itself as a global leader in the integration of finance and real estate development, with ambitions to onboard other developers and projects in the near future. In addition to democratising investment, tokenisation gives one of the most thriving industries in the region liquidity, security, and real-time traceability.
