Dubai Land Department backs new property token platform
Dubai: Dubai’s drive to digitise real estate ownership is gaining swift traction.
More than 6,000 people have already signed up to join the waitlist for ‘Prypco Mint’ — a new property tokenisation platform approved by the Dubai Land Department (DLD). The rush follows the sale of the platform’s debut project, which sold out within a day of launch.
A total of 224 investors from 44 nationalities purchased stakes in the project, with an average individual investment of Dh10,714. Significantly, 70% of these buyers were first-time investors in Dubai property — a sign that the city’s low-barrier digital entry points are drawing in fresh capital from around the globe.
To mark the milestone, the DLD has unveiled the world’s first Property Token Ownership Certificate — a blockchain-based document that formalises fractional ownership of real estate in the emirate.
“This is not just about selling digital assets — it’s about opening the Dubai property market to the world,” said a DLD spokesperson.
Digital realty revolution starts
The Prypco Mint platform, licensed by the Virtual Assets Regulatory Authority (VARA), is the first of its kind in the region. It is the result of a collaboration between the DLD, the UAE Central Bank, Dubai Future Foundation (DFF), and VARA, all working under the framework of the Dubai Real Estate Sandbox.
The move aligns with the broader ambitions under the Dubai Economic Agenda D33 and the Dubai Real Estate Strategy 2033 — both of which aim to make real estate transactions faster, more transparent, and accessible to a global audience.
The DLD is now working to onboard more real estate developers to list projects on the platform, which would expand access to digital property investment opportunities.
More UAE investors to jump in?
For residents and banks in the UAE, the emergence of tokenised real estate brings both opportunity and disruption. Individuals can now invest in small fractions of real estate — effectively lowering the cost of entry into Dubai’s lucrative property market.
Banks and lenders, in turn, may need to evolve their mortgage and financing models to accommodate these micro-investments and blockchain-backed ownership certificates.
With thousands already queued up for the next offering, and the world’s first token certificate officially issued, Dubai is setting the pace for the future of property investment — one digital token at a time.
