Latest news with #PRYPCO
Arabian Business
13-06-2025
- Business
- Arabian Business
Public-private partnerships hold the key to real estate innovation
Last month, PRYPCO celebrated a monumental milestone. After countless hours of planning, development and testing, our team launched PRYPCO Mint – the first real estate tokenisation platform in the Middle East and North Africa (MENA) region. This groundbreaking initiative allows Emirates ID holders to invest in tokenised real estate in Dubai from as little as AED 2,000. By converting tangible, ready-to-own property assets into blockchain-based digital tokens, PRYPCO Mint will use fractional ownership to deliver previously unimagined levels of liquidity, transparency and accessibility to the once slow-moving real estate sector. That said, I do not intend to focus exclusively on PRYPCO Mint in this month's blog. Instead, I'll explain how public-private partnerships (PPPs) are unlocking the full potential of Dubai's real estate sector, and why it seems likely that our emirate will continue leading the world in proptech innovation. Public-private alignment While I am immensely proud of what we have achieved, it would be disingenuous to suggest that our team developed PRYPCO Mint unilaterally. On the contrary, bringing this platform to life would not have been possible without the ingenuity, diligence and dedication of myriad public and private partners. PRYPCO Mint was created in strategic partnership with the Dubai Land Department (DLD), is licensed by the Virtual Assets Regulatory Authority (VARA), and has been implemented in collaboration with the Central Bank of the United Arab Emirates (CBUAE) and the Dubai Future Foundation (DFF) as part of the Real Estate Sandbox. Its launch reinforces our emirate's long-term vision, aligning with key initiatives such as the Real Estate Evolution Space (REES) and the Dubai Economic Agenda (D33). Ctrl Alt 's advanced Web3 infrastructure powers its underlying technology, and Zand Digital Bank will act as the banking partner during the pilot phase. To say that PRYPCO Mint has been a collaborative endeavour would be an understatement. This is a prime example of what can happen when commercial ambition and regulatory foresight combine. Innovation through collaboration It is difficult to overstate the potential benefits offered by effective public-private alignment. PPPs allow policymakers and corporate leaders to de-risk innovation through checks and balances that enhance trust, governance and scalability. Regulatory frameworks, such as those provided by DLD and VARA, enable private sector players to turn concepts into reality. At the same time, commercial entities are incentivised to ensure the innovations and initiatives they bring to market contribute to the delivery of national economic strategies. When it comes to blockchain-enabled fractional ownership in the field of real estate, the figures speak for themselves. Tokenised assets are projected to account for up to 7 per cent of Dubai's property market by 2033, representing an anticipated value of $16 billion. While I'm proud that PRYPCO is playing such a central role in this journey, sustained growth remains dependent on the collective efforts of multiple public and private sector partners. A consumer-first approach Well-executed PPPs are undeniably advantageous for policymakers and business leaders alike, but – in my opinion – their true value lies in their capacity to benefit end users. While it is vital that collaboration on this level enhances infrastructure, it is arguably more important that the innovations in question maximise access. Indeed, this was one of the primary motivations behind PRYPCO Mint, which significantly lowers the barriers to entry for aspiring real estate investors. Thanks to advances in fractional ownership and related proptech innovations, a sizeable number of people who may have lacked sufficient capital to acquire built assets through traditional channels can now get a foot on Dubai's property ladder and start building their portfolios. From this perspective, PPPs don't just encourage access; they facilitate it. In addition to expediting its development and launch, the involvement of bodies such as DLD, VARA, CBUAE and DFF is pivotal in reassuring prospective customers and building brand trust. This seamless interweaving of public and private entities has resulted in a platform that will make real estate investment a realistic prospect for a whole new audience (and, potentially, a whole new generation) of consumers. Ultimately, public-private collaboration is more than a mere driver of real estate innovation; it is an essential component. PPPs demonstrate what can be achieved when commercial ambition and regulatory vision come together. Home to a community of property pioneers – both public and private – who have demonstrated their ability and willingness to show the rest of the world what is possible, Dubai epitomises this joined-up approach. As long as policymakers and business leaders continue to empower one another, I'm confident our emirate's real estate market will go from strength to strength.
Arabian Business
11-06-2025
- Business
- Arabian Business
Dubai tokenised real estate project sold out in less than 2 minutes on PRYPCO Mint platform
The Dubai Land Department (DLD) revealed that the second tokenised property on the PRYPCO Mint platform sold out in one minute and 58 seconds — setting a new record for digital property investment in the emirate. The project attracted 149 investors from 35 different nationalities, underlining Dubai's growing appeal as a global hub for accessible, technology-driven real estate opportunities. Demand for the offering has surged so dramatically that the waiting list surpassed 10,700 potential investors. Dubai tokenised real estate project sold out in less than 2 minutes The platform is part of Dubai Land Department's official Property Tokenisation Initiative, designed to democratise property investment by allowing fractional ownership of real estate assets. Through PRYPCO Mint, investors can purchase shares in ready properties quickly and securely, using an entirely digital process that lowers traditional barriers to entry. Partial ownership is available from just AED2,000 ($545). The sold-out listing featured a one-bedroom apartment in the prestigious Kensington Waters, located in Mohammed Bin Rashid City. Valued at AED1.875m ($510,500), the apartment was offered at a discounted rate of AED1.5m ($408,000), providing investors immediate equity and value.
Economy ME
11-06-2025
- Business
- Economy ME
Dubai's second tokenized property sells out in record-breaking one minute and 58 seconds
The Dubai Land Department announced on Wednesday that its second tokenized property on the PRYPCO Mint platform was fully funded in a record-breaking one minute and 58 seconds, attracting 149 investors from 35 nationalities. This landmark move reinforces Dubai's leadership in the real estate sector, reflecting rising investor confidence and strong interest in digital real estate ownership solutions across the emirate. The unprecedented demand for the project pushed the waiting list to over 10,700 investors. Dubai sets new standards for market accessibility This ongoing success underscores the effectiveness of the PRYPCO Mint platform, which is officially accredited under the Dubai Land Department's Property Tokenization Initiative. By enabling investors to purchase shares in ready properties through seamless and cost-effective mechanisms, the platform is setting new standards for market accessibility. As the platform expands its projects and partnerships, it is helping to shape a future where tokenized assets are expected to become a central part of Dubai's property market by 2033. Amid this momentum, Dubai Land Department invites interested individuals to register early and set up their accounts to take advantage of upcoming offerings before they sell out, unlocking investment opportunities in one of the world's most dynamic and innovative real estate destinations. Read: Is now the right time to buy real estate in Dubai? MENA's first-ever fully tokenized real estate transaction Dubai's second tokenized property featured a one-bedroom apartment in Dubai's Kensington Waters, Mohammed Bin Rashid City, with a total valuation of AED1.5 million, offered at a discounted rate compared to its estimated market value of AED1.875 million, giving investors instant equity and value. Through fractional ownership starting from just AED2,000, the launch continued PRYPCO Mint's mission to make premium real estate accessible to a new generation of investors. Launched on May 25, 2025, PRYPCO Mint, a joint initiative between the Dubai Land Department (DLD) and PRYPCO and licensed by the Virtual Assets Regulatory Authority (VARA), made history with MENA's first-ever fully tokenized real estate transaction, opening the doors to a new asset class for residents across the UAE. The platform's first tokenized property, a two-bedroom apartment in Dubai's Business Bay, attracted 224 investors from over 40 nationalities, with an average investment of AED10,714. Listed at AED2.4 million, below its DLD valuation of AED2.89 million, the listing was fully funded within one day, signalling strong demand for transparent, tech-enabled and value-driven real estate products. In addition, the Dubai Land Department issued Property Token Ownership Certificates to the first cohort of investors, officially recognizing this new form of blockchain-backed ownership. This regulatory milestone represents a key moment in institutionalizing tokenized real estate within Dubai's robust legal framework.
Arabian Business
10-06-2025
- Business
- Arabian Business
Dubai real estate: PRYPCO Mint launches second tokenised property with investment from just $545
Dubai real est a te investors can buy a share of a AED1.875m ($510,500) home for just AED2,000 ($545) with tokenised property set to hit market this week. platform PRYPCO Mint has unveiled its second tokenised property offering, marking another significant step in the evolution of fractional property ownership in the UAE. Following the success of its inaugural tokenised listing, which was fully funded in less than 24 hours, PRYPCO Mint's new property listing goes live on June 11, further solidifying Dubai's role as a global leader in real estate innovation. Democratising Dubai real estate ownership The latest listing features a one-bedroom apartment in the prestigious Kensington Waters, located in Mohammed Bin Rashid City. Valued at AED1.875m ($510,500), the apartment is offered at a discounted rate of AED1.5m ($408,000), providing investors immediate equity and value. Fractional ownership begins at just AED2,000 ($545), allowing a new generation of investors to enter the premium real estate market through affordable, blockchain-backed investment options. Amira Sajwani, Founder and CEO of PRYPCO, said: 'The incredible response to our first tokenised property proved that investors are ready for a smarter, more accessible way to invest in real estate. 'With our second property, we're continuing to break down traditional barriers and offer high-quality opportunities to a broader, more diverse audience. At PRYPCO, our mission is to democratise property ownership, and this is just the beginning.' This launch follows the success of PRYPCO Mint's first-ever tokenised real estate transaction, which was executed in May 2025. The platform's debut property, a two-bedroom apartment in Business Bay, attracted 224 investors from over 40 nationalities, with an average investment of AED10,714 ($2,920). The listing, priced at AED2.4m ($653,500)—below its Dubai Land Department (DLD) valuation of AED2.89m ($787,000) —was fully funded in under 24 hours, demonstrating strong demand for transparent, technology-driven, and value-oriented real estate products. Regulatory milestone for blockchain-powered real estate A key milestone in the project's development was the issuance of Property Token Ownership Certificates by the Dubai Land Department (DLD) to the first group of investors. This certificate formally acknowledges blockchain-based property ownership, aligning the tokenisation of real estate with Dubai's robust legal and regulatory framework. This move is part of the broader Real Estate Tokenisation project, launched in collaboration with the Dubai Land Department and the Virtual Assets Regulatory Authority (VARA), aiming to institutionalise the emerging asset class within the UAE. The project is built on a secure and scalable blockchain infrastructure powered by Ctrl Alt, which issues ownership tokens via the XRP Ledger. Zand Bank, the platform's official banking partner, ensures financial integration, guaranteeing a seamless investment experience. Targeting tech-savvy investors and millennials PRYPCO Mint is designed to appeal to tech-savvy investors, millennials, and first-time buyers looking for flexible, liquid investment opportunities in the real estate sector. The platform's mobile-first experience reimagines property ownership by transforming what has traditionally been a slow, capital-heavy process into a streamlined, inclusive investment option. Currently available to UAE residents holding valid Emirates IDs, PRYPCO Mint plans to expand its reach to international investors in the next phase, further enhancing Dubai's reputation as a global hub for real estate innovation. The project aims to revolutionise how property is bought and sold, offering a more accessible, digital-first approach to investing in the UAE's dynamic real estate market.
Gulf Business
10-06-2025
- Business
- Gulf Business
PRYPCO Mint unveils second tokenised property, listing to go live on June 11
Image: PRYPCO Following the rapid success of its debut tokenised property — funded in under 24 hours — The move marks another major step in Dubai's push to redefine global property investment through blockchain-backed innovation. The new listing features a one-bedroom apartment in Kensington Waters, Mohammed Bin Rashid City, with a total valuation of Dhs1.5m. Offered at a discount to its estimated market value of Dhs1.875m, the listing provides investors with immediate equity. Fractional ownership begins from Dhs2,000, reinforcing PRYPCO Mint's commitment to making premium real estate more accessible. 'The incredible response to our first tokenised property proved that investors are ready for a smarter, more accessible way to invest in real estate,' said Amira Sajwani, founder and CEO of PRYPCO. 'With our second property, we're continuing to break down traditional barriers and offer high-quality opportunities to a broader, more diverse audience.' Dubai Land Department and PRYPCO Mint partnership Launched on May 25 PRYPCO Mint is a joint initiative between the Dubai Land Department (DLD) and PRYPCO, and is licensed by the Virtual Assets Regulatory Authority (VARA). The platform made headlines for executing the MENA region's first fully tokenised real estate transaction. Its inaugural listing — a two-bedroom apartment in Business Bay valued at Dhs2.4m — was oversubscribed within 24 hours by 224 investors from more than 40 nationalities. The property had been listed below the DLD valuation of Dhs2.89m, with the average investment ticket at Dhs10,714. In a significant regulatory milestone, the The real estate tookenisation project operates within a regulatory sandbox established by the DLD in collaboration with VARA, the Central Bank of the UAE, and the Dubai Future Foundation (DFF). Blockchain firm Ctrl Alt powers the infrastructure on the XRP Ledger, while Zand Bank provides integrated financial services as the initiative's official banking partner. Designed for tech-savvy investors, millennials, and first-time buyers, PRYPCO Mint leverages a mobile-first interface to transform real estate into a flexible and liquid asset class. The platform is currently available to UAE residents with valid Emirates IDs and is expected to open to international investors in its next phase. The second listing is expected to further fuel investor interest and advance Dubai's role as a global leader in digital real estate innovation.
