Last updated: June 11, 2025
Dubai is set to launch its second tokenized property listing on 11 June 2025, following the full subscription of its first tokenised real estate offering in under 24 hours.
The new listing features a one-bedroom apartment in Kensington Waters, Mohammed Bin Rashid City, with a total valuation of Dh1.5 million. The property is offered at a discounted rate compared to its estimated market value of Dh1.875 million. Fractional ownership starts from Dh2,000, allowing investors to buy shares in the property.
Banking on first success
PRYPCO Mint, a joint initiative between the Dubai Land Department (DLD) and PRYPCO, licensed by the Virtual Assets Regulatory Authority (VARA), launched the region’s first fully tokenized property on 25 May 2025.
The first property was a two-bedroom apartment in Business Bay, valued at Dh2.4 million, below its DLD valuation of Dh2.89 million. It attracted 224 investors from over 40 nationalities and was fully funded within 24 hours, with an average investment of Dh10,714.
Investors in the first tokenized property received official Property Token Ownership Certificates from the DLD, establishing legal recognition of blockchain-backed property ownership.
Capitalising on responses
“The incredible response to our first tokenised property proved that investors are ready for a smarter, more accessible way to invest in real estate,” said Amira Sajwani, Founder and CEO of PRYPCO.
“With our second property, we’re continuing to break down traditional barriers and offer high-quality opportunities to a broader, more diverse audience.”
The tokenization platform operates under a regulatory framework developed by the DLD in collaboration with VARA, the Central Bank of the UAE, and the Dubai Future Foundation. The blockchain infrastructure is provided by Ctrl Alt using the XRP Ledger, with Zand Bank serving as the banking partner.
The platform targets UAE residents holding valid Emirates IDs and aims to expand access to international investors in future phases. PRYPCO Mint offers a mobile-first platform to facilitate fractional real estate investment, targeting millennials, tech-savvy investors, and first-time buyers.
