According to Amira Sajwani, founder and CEO of Prypco, developers in Dubai may now offer their properties for tokenisation on Prypco Mint, the first real estate tokenisation platform in the MENA area that was introduced in partnership with the Dubai Land Department (DLD) and other regulatory organisations. All developers’ properties are welcome. In an interview with the Times, Sajwani stated, “We are happy to list a unit as long as it offers substantial value to our investors.
Within a day, the platform’s first advertised property, a two-bedroom flat in Business Bay’s Damac Prive Tower, received full funding. With an average investment of Dh10,714, it attracted 224 investors of more than 40 different nationalities. With investments as little as Dh2,000, Prypco Mint uses blockchain-based tokens to provide fractional ownership of prime real estate in Dubai.
Prypco and the Dubai Land Department collaborated to create Prypco Mint, which has a licence from the Virtual Assets Regulatory Authority (Vara) and Zand Bank as a key banking partner.
Since the site’s successful launch, many developers, including those outside of Damac, have expressed interest in advertising their properties on it. “Any developer can submit a property to us as long as it offers good value.
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