Dubai launches first tokenized real estate platform in MENA

Dubai is breaking new ground in property investment with the launch of the Middle East’s first tokenized real estate platform, Prypco Mint.

According to a May 25 report from Gulf News, the initiative is being spearheaded by the Dubai Land Department and aims to make property investment more accessible. The pilot platform allows UAE residents to invest in real estate with as little as Dh2,000.

Prypco Mint is being launched in partnership with blockchain firms Prypco and Ctrl Alt and is backed by the Virtual Assets Regulatory Authority, the Central Bank of the UAE, and the Dubai Future Foundation. Zand Digital Bank is acting as the banking partner during the trial phase.

Through the platform, users can buy 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 protection of investors is a top priority. All funds are stored in regulated client money accounts that are monitored by the Central Bank, VARA, and DLD. The funds are only released after all transactions are finished. In order to guarantee equitable pricing, every listed property must also pass a regulatory review.

Returns for investors are expected to come from both rental income and any appreciation in the value of the property. Investors 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. The program is currently only available to UAE citizens, but it is anticipated to grow 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 in March 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 through a partnership with Crypto.com.