Dubai Land Department has launched the region’s first tokenized real estate project through Prypco Mint platform, in collaboration with Prypco Holding, the Virtual Assets Regulatory Authority (VARA), the Central Bank of the UAE, and the Dubai Future Foundation via the Real Estate Sandbox.
Zand Digital Bank was selected as the banking sector partner during the pilot phase.
The project marks the official launch of mint.prypco.com, enabling users to invest in shares of premium Dubai real estate starting from AED 2,000. Transactions are executed exclusively in UAE dirhams, with no use of cryptocurrencies in this initial stage, ensuring regulatory clarity and financial stability.
Initially exclusive to UAE nationals, the platform is expected to expand globally, further solidifying Dubai’s position as a leader in tokenized real estate innovation. More platforms and partners will be introduced in subsequent phases.
Only ready properties are eligible in this first phase, and tokenization is permitted solely through companies licensed by VARA. Dubai Land Department reviews and approves the pricing fairness of properties before listing them on the platform.
Currently, Prypco and Ctrl Alt are the two licensed companies participating in the pilot, with future participation expected from additional qualified entities.
This initiative is part of the broader “REIIS” (Real Estate Innovation Incubator Strategy), launched by the department to position Dubai as a global hub for PropTech and AI-driven real estate solutions, fostering a flexible regulatory environment and attracting talent and startups in this dynamic sector.
