Early in 2025, the Dubai Land Department (DLD) announced plans to introduce fractional ownership of property through tokenization in the Emirate.
A couple of months later and the department has become the first real estate registration entity in MENA to successfully adopt a licensed and regulated tokenized real estate platform.
Related: Dubai Introduces Fractional Ownership Through Real Estate Tokenisation
Tokenizing real estate projects means turning physical assets into digital tokens where one can purchase a set number of property tokens (shares) based on their budget and financial capacity, thus allowing for fractional ownership.
However, in the initial phase, blockchain technology (Use of cryptocurrency) will not be implemented or used.
The department has launched the pilot phase and activated the platform, mint.prypco.com, through which one will be able to transact.
The project, or at least the initial phase, is in partnership with PRYPCO, in collaboration with the Virtual Assets Regulatory Authority (VARA), the Central Bank of the United Arab Emirates, and the Dubai Future Foundation (DFF) through the Real Estate Sandbox.
Related: Dubai PropTech Hub: Shaping the Future of Real Estate Through Technology
Zand Digital Bank has been appointed as the banking partner for the project’s pilot phase.
PRYPCO is a real estate platform that was founded by Amira Sajwani, daughter of Mr. Hussain Sajwani, founder & CEO of DAMAC Properties, the Middle East’s largest private real estate development company.
However, before you take out your card to invest, we need to mention a few things:
- Currently, only UAE residents with an Emirates ID are allowed to transact and invest.
- The platform is set to expand globally ‘soon’.
- More platforms are set to be added and integrated in the future.
- All transactions are carried out exclusively in UAE Dirhams, with no use of cryptocurrencies during the pilot phase.
- The minimum amount to invest is just AED 2,000.
As the market evolves, tokenized assets are expected to account for up to 7% of Dubai’s real estate sector by 2033, with an estimated value of AED 60 billion (USD 16 billion). Prypco Mint is positioned to play a central role in driving this transformation.
Related: What is the ROI (Return on Investment) While Investing in Dubai’s Real Estate Market?
