Dubai Launches MENAs First Tokenized Real Estate Platform

Dubai has launched the Middle East and North Africa (MENA) region's first tokenized real estate platform, Prypco Mint. This initiative, led by the Dubai Land Department, aims to make property investment more accessible by allowing UAE residents to invest in real estate with a minimum of Dh2,000. The platform is a result of a partnership between the Dubai Land Department, blockchain firms Prypco and Ctrl Alt, the Virtual Assets Regulatory Authority, the Central Bank of the UAE, and the Dubai Future Foundation. Zand Digital Bank is serving as the banking partner during the trial phase.

Through Prypco Mint, users can purchase fractional ownership in ready-to-own Dubai properties via the website mint.prypco.com. Transactions are currently limited to UAE dirhams, with no crypto payments permitted in the pilot. The platform ensures investor protection by storing all funds in regulated client money accounts monitored by the Central Bank, VARA, and DLD. Funds are only released after all transactions are completed, and every listed property must pass a regulatory review to guarantee equitable pricing.

Investors can expect returns from both rental income and any appreciation in the value of the property. They will hold a legally recognized share of ownership registered under DLD oversight. The DLD estimates that tokenized property assets could make up 7% of Dubai’s real estate market, roughly Dh60 billion, by 2033. Currently, the program is only available to UAE citizens, but it is anticipated to expand globally in subsequent stages.

Dubai continues to position itself as a global leader in regulated digital asset innovation. This rollout follows Dubai’s earlier moves to tokenize real estate, attract global blockchain firms, and ease access to property ownership. It also comes on the heels of recent initiatives like enabling crypto payments for government services. The project leverages native tokenization to fractionalize ownership of real estate, allowing multiple investors to co-own a single property. This move is expected to make investing in Dubai property more accessible and innovative.

The project is implemented through the Real Estate Sandbox and is set to expand globally, with additional platforms to be integrated in later phases. The Dubai Land Department has selected the XRP Ledger as the blockchain infrastructure for its inaugural Real Estate Tokenization Project, marking a significant step towards digital innovation in the property sector and further solidifying Dubai's position as a leader in real estate technology. The project is part of Dubai's broader strategy to harness advanced technologies to advance property investment and strengthen its leadership in the real estate sector.