Image: Dubai Media Office
Dubai Land Department (DLD) has launched the Middle East and North Africa region’s first tokenised real estate investment project through the ‘Prypco Mint’ platform.
The initiative, part of Dubai’s Real Estate Sandbox programme, is being carried out in collaboration with Prypco, and supported by the Virtual Assets Regulatory Authority (VARA), the Central Bank of the UAE, and the Dubai Future Foundation.
Zand Digital Bank has been appointed as the banking partner for the pilot phase.
The project enables users to invest in tokenised shares of ready-to-own properties in Dubai, with a minimum entry point of Dhs2,000.
Currently, investments are accepted only in UAE dirhams, and the use of cryptocurrencies is not permitted at this stage.
Available exclusively to UAE ID holders during the pilot, the platform is expected to expand globally in future phases.
DLD, VARA, and the Central Bank of the UAE will oversee investor funds, ensuring a tightly regulated investment environment.
“This initiative is designed to open the market to small-scale investors by providing access through a regulated and transparent investment framework,” DLD said in a statement.
Tokenised shares offer investors access to property ownership without the need for full capital outlay.
The platform provides detailed information including pricing, risk assessments, and technical property specifications, allowing users to make informed decisions.
Partnerships between DLD, Prypco, and Ctrl Alt Solutions
The move stems from a partnership between DLD, Prypco, and Ctrl Alt Solutions to create a regulatory and operational framework that fosters innovation while protecting investor rights. By 2033, tokenised real estate is projected to make up 7 per cent of Dubai’s property market, equivalent to Dhs60bn ($16bn).
Investor protection is further enhanced by a dedicated Client Money Account (CMA) system overseen by the Central Bank, which holds funds until purchases are completed.
The initiative supports the objectives of the Dubai Real Estate Sector Strategy 2033 and the Dubai Economic Agenda D33, which aim to position Dubai as the world’s leading smart city for real estate investment.
All tokenised offerings during the pilot phase must come from companies licensed by VARA. Currently, two firms — Prypco and Ctrl Alt — are authorised.
Investors will benefit from both rental income and capital gains, with legal documentation of ownership issued by DLD. The project is part of DLD’s broader Real Estate Evolution Space Initiative (REES), which promotes the integration of proptech and artificial intelligence into the sector.
