Dubai's Tokenized Apartment Project Fully Subscribed in 2 Minutes, 149 Investors from 35 Countries

In a groundbreaking move, a single-bedroom apartment project in Dubai was fully subscribed in a mere 1 minute and 58 seconds. This project, situated in Mohammed Bin Rashid City, was part of the Dubai Land Department's second tokenized real estate initiative. The apartment, valued at 150 million dirhams, was offered at a discounted price compared to its market value of 187.5 million dirhams, drawing the attention of 149 investors from 35 different countries.

The rapid subscription highlights the burgeoning interest in tokenized real estate, a method that allows investors to own a fraction of a property through digital tokens. This approach not only democratizes real estate investment but also enhances liquidity and accessibility for a broader range of investors. The success of this project underscores Dubai's status as a global leader in innovative real estate investments, utilizing blockchain technology to streamline transactions and improve transparency.

The swift completion of the subscription also reflects the growing confidence investors have in Dubai's real estate market. The city's strategic location, robust infrastructure, and favorable regulatory environment make it an attractive destination for both local and international investors. This tokenized real estate project further solidifies Dubai's reputation as a forward-thinking city that embraces technological advancements to drive economic growth.

The involvement of investors from 35 countries indicates the global appeal of Dubai's real estate market. The city's diverse and cosmopolitan population, coupled with its status as a major business and tourism hub, continues to draw investors seeking stable and high-yielding opportunities. The success of this project is likely to encourage more developers to explore tokenized real estate, potentially leading to further innovation and growth in the sector.

This project, facilitated by the platform Prypco Mint, allows users to hold shares in high-quality properties through blockchain-based tokens, with a minimum investment of 2000 dirhams. The platform aims to make quality real estate accessible to a new generation of investors. The Dubai Land Department emphasized that the unprecedented demand, with a waiting list exceeding 10,700 people, reflects the increasing confidence in digital real estate ownership solutions across the entire region.

The platform Prypco Mint is set to become a key component of Dubai's real estate market by 2033. The Dubai Land Department advises interested parties to register early to secure investment opportunities in upcoming projects. Prypco's first project, a two-bedroom apartment in Business Bay, attracted 224 investors from over 40 countries, with an average investment of 10,714 dirhams. The property, priced at 240 million dirhams, was sold out within a day, well below the land department's estimated value of 289 million dirhams.

The platform offers a digital real estate ownership experience through a mobile-first approach, transforming real estate from a traditional, slow, and capital-intensive asset into a flexible, inclusive, and liquid investment. Currently, the project is open only to residents with UAE identification, but it will be extended to international investors in the next phase.