Dubai Land Department has launched the region’s first tokenized real estate project through the “PrYpco Mint” platform, in partnership with PrYpco Holding, and in collaboration with the Virtual Assets Regulatory Authority (VARA), the Central Bank of the UAE, and Dubai Future Foundation via the Real Estate Sandbox initiative.
The main takeaways;
- MENA First: Dubai launches the region’s first licensed real estate tokenization platform.
- Low Entry: Invest from AED 2,000 in ready properties using UAE dirhams.
- Secure & Regulated: Funds held safely; released only after purchase.
- Future Focus: Part of Dubai’s 2033 strategy; tokenized assets may hit 7% of market.
Digital bank Zand was selected as the banking partner for the pilot phase, making Dubai the first city in the MENA region to adopt a licensed platform for real estate tokenization.
The department has initiated the trial phase for investing in tokenized real estate project, marking the official launch of the platform mint.prypco.com. The platform allows users to earn returns and own shares in a premium real estate project in Dubai.
Initially, the platform is exclusively available to holders of the UAE ID, with plans to expand globally and onboard more platforms in future phases — reinforcing Dubai’s position as a leader in real estate innovation and tokenization.
Innovative Opportunities
The project offers innovative investment opportunities for individuals by allowing them to purchase tokenized shares in ready properties in Dubai, with investments starting from just AED 2,000. All transactions are conducted in UAE dirhams only, with no cryptocurrency involvement during the initial phase. The platform enables investors to view comprehensive details about each property — including price, risks, technical specifications, and minimum investment requirements.
This initiative is part of a strategic partnership agreement between the Dubai Land Department, PrYpco Holding, and Ctrl Alt Solutions, aimed at developing an innovative regulatory and operational environment for real estate tokenization. This includes enhancing legislation, promoting awareness, attracting specialized asset tokenization companies, supporting innovation, and protecting investor rights.
As the market evolves, tokenized assets are expected to represent up to 7% of Dubai’s real estate market by 2033, with a projected value of AED 60 billion (USD 16 billion). The PrYpco Mint platform is seen as a cornerstone of this transformation.
Integrated and Transparent Regulation
The real estate tokenization project is managed through a collaborative effort between the Dubai Land Department, as the regulator of physical real estate assets, and the Virtual Assets Regulatory Authority (VARA), as the regulator of digital assets. This partnership ensures a fully integrated and transparent regulatory framework for this innovative type of real estate investment.
In the current phase, the Central Bank of the UAE plays a key supervisory role by overseeing the opening of Client Money Accounts (CMAs) for companies involved in real estate tokenization. These are specialized bank accounts designed to protect investor funds. Under this system, investors’ money is deposited into the CMA and is only transferred to the tokenization company after the purchase is completed, thereby enhancing security and transparency.
Facilitating Investor Access
This project aligns with the Dubai Land Department’s efforts to achieve the goals of the Dubai Real Estate Strategy 2033, which aims to cement Dubai’s global leadership in this vital sector by strengthening public-private partnerships and attracting innovative international companies. It also supports the Dubai Economic Agenda (D33) launched by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai. The agenda aims to launch transformational projects that make Dubai the best city in the world to live and work, through a fully integrated digital economy that boosts the emirate’s position as a global hub for smart real estate investment.
Ready Properties Only
In its initial phase, the project is limited to ready-to-move-in properties. Tokenization is only permitted through companies licensed by the Virtual Assets Regulatory Authority (VARA). The Dubai Land Department is also responsible for reviewing the fair market valuation of each property before it is listed on the platform.
The pilot phase currently includes two approved companies: Prypco and Ctrl Alt. In the future, the market will open to more qualified firms to join this emerging ecosystem.
Rental Returns
Investors benefit from both rental income and capital gains from property value appreciation, while also holding a legally documented share in the property issued by the Dubai Land Department. This ensures a transparent and secure investment experience, without the need to manage traditional property operations.
This initiative is part of the “REIO – Real Estate Innovation Observatory” launched by the Dubai Land Department, which aims to place Dubai on the global map for PropTech and AI in real estate. It supports a flexible regulatory environment and encourages the attraction of talent and startups in this vital sector, further boosting the emirate’s international competitiveness.
