The Dubai Land Department (dld) has launched the first tokenised real estate investment initiative in the area using the “Prypco Mint” platform. This historic move furthers Dubai’s leadership in the real estate industry and uses cutting-edge technology to promote property investment.
The program is being carried out through the Real Estate Sandbox in association with Prypco, the Central Bank of the United Arab Emirates, the Virtual Assets Regulatory Authority (VARA), and the Dubai Future Foundation (DFF). Dubai is becoming the first city in the Mena area to embrace a regulated platform for real estate tokenisation, thanks to the appointment of Zand Digital Bank as the project’s banking partner for the pilot phase.
The digital platform mint.prypco.com has been activated, and the Dubai Land Department has formally begun the tokenised real estate investment trial phase. Users of the platform may acquire a stake in a prestigious real estate project in Dubai and earn rewards. The platform, now only accessible to UAE ID holders, is expected to go global soon. Other platforms will be added in subsequent stages, solidifying Dubai’s standing as a worldwide centre for innovation in tokenised real estate.
With tokenised shares of ready-to-own properties in Dubai starting at little Dhs2,000, the concept provides individuals with creative investment alternatives. During the pilot period, no cryptocurrency is used; all transactions are conducted only in UAE Dirhams.
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