Emirate’s land department launches pilot phase of first real estate tokenisation project
Own a Slice of Dubai Property for Just Dh2,000: Tokenised Real Estate Pilot Project Launches
Investors now have a new gateway into Dubai’s thriving property sector, with the opportunity to own shares in real estate starting at just Dh2,000. This move comes as the Dubai Land Department (DLD) officially kicks off the pilot phase of its tokenised property investment platform, unveiled on Sunday.
Under this initiative, investors can purchase tokenised ownership shares in ready-to-own properties across the emirate. All transactions during this phase must be conducted exclusively in UAE dirhams—cryptocurrencies are not permitted at this stage.
At present, participation is open only to holders of Emirates IDs, with international investors expected to gain access in upcoming phases.
“The platform is expected to expand on a global scale shortly, with more platforms scheduled to be added in later stages,” stated the DLD.
This breakthrough is spearheaded through the Prypco Mint platform, implemented in collaboration with the Virtual Assets Regulatory Authority (Vara), the UAE Central Bank, and the Dubai Future Foundation (DFF) via the Real Estate Sandbox.
The Zand Digital Bank has been appointed as the exclusive banking partner for this pilot rollout.
A strategic partnership between DLD, Prypco, and Ctrl Alt Solutions has been formed with the aim of attracting specialized asset tokenisation firms while putting a strong emphasis on protecting investor rights.
During this first phase, only two approved companies—Prypco and Ctrl Alt—are authorized to facilitate tokenisation transactions. However, the DLD has announced plans to invite additional qualified firms in the future to foster market competition.
Revolutionizing Property Ownership Through Tokenisation
Originally announced in March, the project’s core objective is to digitally tokenize real estate assets, recorded securely on blockchain technology. This model aims to simplify buying, selling, and investing in Dubai’s dynamic property market.
Tokenisation enables fractional property ownership, whereby assets are split into multiple shares aligned with an investor’s budget and strategy. This gives participants the chance to acquire part of a property without committing to a full purchase.
According to government projections, Dubai’s tokenised real estate market could hit Dh60 billion ($16.33 billion) by 2033, representing approximately 7% of all property transactions in the emirate.
Investor Platform and ROI Potential
Investors can visit mint.prypco.com, the digital hub for this initiative, to access vital information such as property prices, risk insights, technical specifications, and minimum investment thresholds.
The platform is jointly supervised by the DLD, which regulates physical assets, and VARA, the authority overseeing digital assets, to provide a comprehensive and transparent regulatory structure.
As part of the pilot’s regulatory security, the CBUAE (Central Bank of the UAE) will manage the establishment of corporate accounts via the Client Money Account (CMA) system. This ensures that investors’ funds remain protected—not transferred to tokenisation companies until purchases are finalized.
Focus on Ready-to-Own Properties & Legal Safeguards
The current pilot is limited to ready-to-own real estate only, and tokenisation is restricted to entities licensed by VARA. The DLD will evaluate and approve property pricing and fairness before any listing becomes public.
“Investors will gain returns not only through rental income but also from capital appreciation, all while holding a legally issued ownership document from the Dubai Land Department,” the DLD confirmed.
This tokenised model is designed to eliminate traditional property hassles, giving investors a secure, transparent, and hassle-free investment experience.
A Strong Real Estate Market Supporting Innovation
The announcement coincides with a booming property market in Dubai, strengthened by various government incentives such as residency options for retirees and remote workers, an expanded 10-year Golden Visa programme, and continued economic diversification.
In 2024, real estate deals in Dubai hit Dh761 billion, marking a 20% rise from the previous year. The total number of transactions surged by 36%, reaching 226,000, according to the Dubai Media Office.
Dubai also set a new record in ultra-luxury home sales, with 435 properties priced above $10 million sold last year—surpassing the previous record of 434 units in 2023. The total transaction value in this luxury category reached an impressive $7 billion, as noted by Knight Frank.
Conclusion
Dubai continues to position itself as a global leader in property innovation, blending blockchain and real estate through secure, government-backed tokenisation. As this pilot evolves into future phases and welcomes international investors, the emirate reinforces its commitment to forward-thinking investment models that enhance accessibility and security in one of the world’s most competitive real estate markets.
