Latest news with #PrypcoMint
Business Recorder
12-06-2025
- Business
- Business Recorder
Dubai property: buyers purchase shares in one-bedroom apartment in record time
Dubai Land Department's (DLD) second tokenised real estate project was fully funded in a record-breaking one minute and 58 seconds, attracting 149 investors from 35 nationalities. The project allows users to own a share in prime real estate through blockchain-based tokens, starting from AED 2,000 ($545). Dubai's first tokenised real estate project signals 'major transformation' for property sector The new property listing featured a one-bedroom apartment in Kensington Waters, Mohammed Bin Rashid City, with a total valuation of AED 1.5 million, offered at a discounted rate compared to its estimated market value of AED 1.875 million, 'giving investors instant equity and value'. The platform used for the sale is called Prypco Mint, which has said its mission is 'to make premium real estate accessible to a new generation of investors.' In a statement published Wednesday, DLD said 'this unprecedented demand pushed the waiting list to over 10,700 investors, reflecting rising confidence and strong interest in digital real estate ownership solutions across the emirate.' 'By enabling investors to purchase shares in ready properties through seamless and cost-effective mechanisms, PRYPCO Mint is setting new standards for market accessibility,' it added. The idea is that tokenised assets will become a central part of Dubai's property market by 2033. Dubai Land Department has said interested individuals should register early and set up their accounts to take advantage of upcoming offerings before they sell out. Prypco's first property, a two-bedroom apartment in Business Bay, attracted 224 investors from over 40 nationalities, with an average investment of AED 10,714. Listed at AED 2.4 million, below its DLD valuation of AED 2.89 million, the listing was fully funded within one day. The platform was said it provides digital property ownership through a mobile-first experience, 'transforming real estate from a traditionally slow, capital-heavy asset into a flexible, inclusive, and liquid investment.' Currently available to UAE residents holding valid Emirates IDs, the platform is expected to open to international investors in its next phase.
Trade Arabia
11-06-2025
- Business
- Trade Arabia
DLD achieves key milestone with tokenised real estate sell-out
Dubai Land Department (DLD) has announced that its second tokenised project on the 'Prypco Mint' platform was fully funded in a record-breaking one minute and 58 seconds, attracting 149 investors from 35 nationalities. This unprecedented demand pushed the waiting list to over 10,700 investors, reflecting rising confidence and strong interest in digital real estate ownership solutions across the emirate, said DLD in a statement. By enabling investors to purchase shares in ready properties through seamless and cost-effective mechanisms, Prypco Mint is setting new standards for market accessibility. As the platform expands its projects and partnerships, it is helping to shape a future where tokenised assets are expected to become a central part of Dubai's property market by 2033, it stated. Amid this momentum, DLD has called upon interested individuals to register early and set up their accounts to take advantage of upcoming offerings before they get sold out. This ongoing success underscores the effectiveness of the platform, which is officially accredited under DLD's Property Tokenisation Initiative, it added.
Coin Geek
10-06-2025
- Business
- Coin Geek
Dubai rides tokenization wave; Air Arabia embraces AE Coin
Getting your Trinity Audio player ready... To match the growing fervor around real estate tokenization, Dubai has seized the moment to launch a first-of-its-kind offer for investors in the region. The Dubai Land Department (DLD) said in its official statement that investors based in the United Arab Emirates can now invest in tokenized real estate through Prypco Mint, an investment platform built on-chain. Prypco Mint is a joint project involving Dubai's Virtual Assets Regulatory Authority (VARA), Dubai Future Foundation (DFF), and the Central Bank of the United Arab Emirates (CBUAE). The project, currently in its pilot phase, partners with Zand Digital Bank for this innovative initiative. Investors holding a national ID will be allowed to participate in the initiative, investing in tokenized real estate projects across Dubai. After the pilot stage is completed, authorities plan to expand the project regionally and globally. 'The platform enables users to generate returns and own a share in a prime real estate project in Dubai,' read the press release. By participating in this initiative, investors will have access to tokenized shares in Dubai-based properties with a minimum investment of AED 2,000 (US$544). Despite the reliance on blockchain, transactions on the platform will be conducted entirely with UAE Dirham rather than digital assets. Plans for a tokenized real estate have been in the works since early April, with the DLD and VARA charting a regulatory course for the offering. In mid-May, VARA updated its rules to allow real-world asset (RWA) tokens to be traded on secondary markets, providing regulatory backing for Prypco Mint. Going forward, the project will support the secondary trading of tokens, improving the overall liquidity. Apart from heightened compliance standards, tokenized real estate will offer fractional ownership, allowing a broad class of retail investors to dabble in Dubai's high-end real estate market. According to the DLD, the tokenized real estate verticals will grow to represent 7% of Dubai's real estate market by 2033. The report pegs the valuation of the growing niche at AED 60 billion (US$16 billion) in 2033. A Deloitte report projects the global tokenized real estate market to reach a $4 trillion valuation in 2035. The incoming spike will be buoyed by government agencies wading into the niche, with Nigeria and Israel already integrating the offering into their land registry operations. Air Arabia makes stride with dirham-backed stablecoin Meanwhile, Air Arabia has confirmed plans to accept the dirham-backed stablecoin, AE Coin, for flight bookings and other ancillary payments. The company is collaborating with digital banking giant Al Maryah Community Bank (Mbank) to support AE Coin payments. The stablecoin payments will be processed via Mbank's AEC Wallet app, cementing Air Arabia's place as the first regional airline to embrace stablecoins. Launched in late 2024, Mbank's AE Coin has clinched final approval from the UAE's financial regulator and will maintain a 1:1 peg with the dirham. For Air Arabia customers, integrating stablecoins for flight bookings will offer a raft of benefits. Adel Ali, Air Arabia's group chief executive, disclosed that the stablecoin option will cater to the growing demographic of clients, offering the perks of flexibility and convenience. 'The newly introduced payment option through AEC Wallet reflects our ongoing efforts to adopt smart solutions that bring greater value, choice, and flexibility to our growing customer base,' said Ali. Consumers keen on using stablecoins to book their flights will have to download Mbank's AEC Wallet and fund their wallets using existing payment options. Apart from the perks of flexibility, stablecoin also offers low transaction fees and price stability. 'By integrating AE Coin into flight bookings, we are simplifying the payment experience for travellers and enabling a seamless cashless solution that aligns with the growing digital economy,' said AE Coin General Manager Ramez Rafeek. The latest offerings follow the rollout of clear stablecoin regulations in the UAE. In 2024, authorities gave the green light for dirham-backed stablecoins, with several entities seizing the opportunities to launch their offerings. The Abu Dhabi International Holding Company and other UAE-based entities have teamed up to float their dirham-backed stablecoin. The UAE is doubling on efforts to revolutionize its financial landscape with emerging technologies. Outside of dirham-backed stablecoins, the country's regulators have given the nod to U.S. dollar-backed stablecoin offerings like USDC after a watertight licensing process. Alongside the pursuit of stablecoins, the central bank is probing the viability of a digital dirham to augment existing payment options. The central bank has hinted at a commercial rollout for the digital dirham in the last quarter of the year after months of central bank digital currency (CBDC) research. Watch: Richard Baker on engineering a smarter financial world with blockchain title="YouTube video player" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen="">
Khaleej Times
10-06-2025
- Business
- Khaleej Times
Tokenised property in Dubai: Who can invest, fees, ROI; 20 questions answered
Dubai launched the pilot phase of the ' Real Estate Tokenisation Project ' last month, with the first property recording an immense demand from small investors. With just Dh2,000, UAE residents can invest in the property market through the Prypco Mint platform, which was launched by Prypco in partnership with the Dubai Land Department (DLD), the Virtual Assets Regulatory Authority (VARA), and Zand. Here is what UAE investors need to know about this new investment opportunity in Dubai's red-hot property market. 1. What is the tokenisation of the property market? Tokenisation converts real estate assets into digital tokens recorded on blockchain technology. This allows fractional ownership in premium properties. Stay up to date with the latest news. Follow KT on WhatsApp Channels. 2. What is the platform to invest? Launched by Prypco in partnership with the Dubai Land Department (DLD), licensed by the Virtual Assets Regulatory Authority (Vara), Zand Bank, Prypco Mint is the platform for investors in the pilot phase. 3. What is the minimum investment? Investors can invest from Dh2,000 onwards. 4. Who can invest? Can foreign investors invest in tokenised property? Only UAE residents holding Emirates ID cards and aged 18 and above can invest. 5. How is the token value calculated? The value of each token depends on the size and price of the property. Prypco Mint breaks down every square meter of a property into 10,000 tokens. So, a 130 sqm property is split into 1.3 million tokens. The value of a token is then calculated by dividing the purchase price of the property by the total number of tokens. So a property worth Dh2.6 million costs Dh2 per token. 6. How many tokens can one buy? A maximum of 20 per cent of the total tokens in a single property can be bought. 7. How can one buy tokens? UAE residents can invest through bank transfers or debit/credit cards. Bitcoin and other cryptocurrencies are not accepted. 8. Is there a lock-in period? If you purchased a token through Prypco Mint, no lock-in period applies. 9. What are the benefits? Some of the key benefits are low investment entry, reduced fees compared to traditional real estate transactions, diversification of portfolio with fractional investments in multiple properties and monthly rental income as well as capital appreciation of the token. 10. Do investors need to register with Prypco Mint? Yes. UAE residents are required to provide documents to register with the platform. Prypco Mint is the only platform in Dubai for such investment opportunities. More platforms are likely to be rolled out later. 11. Is there a fee for investing? According to Prypco Mint, a two per cent fee is applicable on the investment and one per cent exit fee on exiting the investment, whether it's when you sell your tokens or when the property is sold. There is also a 0.5 per cent annual management fee. On the sale of the property, a capital appreciation fee ranging up to 15 per cent is applied, based on the property's value increase, according to Prypco Mint. 12. Is there a DLD fee also? There is a two per cent DLD fee for registering the tokenised title deed in your name, which is 50 per cent lower than the standard DLD fee. 13. How can investors exit their investment? Investors have two options for exiting their investment: 1. Selling their tokens on the Prypco Mint Marketplace once the lock-in period expires. They can withdraw the proceeds to their bank account. 2. If the majority of investors vote to sell the property, it will be sold. The proceeds, after relevant costs are deducted, will be distributed to investors based on their ownership share, and they can withdraw their share of the proceeds to their bank account. 14. How much return should investors expect? According to Prypco Mint, return on investment could range between 8 to 12 per cent per year. 15. Will the owner receive monthly rental income? Yes. Buyers will receive monthly income if the property is rented out. But if the token is sold before the monthly income is distributed, investors will not receive the income. 16. Who will pay for damages or major changes? If there's a material change, like the need for major repairs that could affect the property's value or returns, Prypco will notify all investors. They will then have the opportunity to vote on how to handle the situation. A decision requires a majority vote of 51 per cent of the investors. 17. Is it secure to invest in tokenised property? It is a highly secure and safe investment as all the owners are registered on the blockchain technology. 18. How many tokenised properties have been listed and fully funded? The first tokenised property listed on Prypco Mint was fully funded within a day. It was a Damac Properties unit, priced at Dh2.4 million compared to the market price of Dh3 million. The second property will be listed on June 11, 2025. 19. What is the growth potential? It is estimated that Dubai's real estate tokenisation sector is projected to reach Dh60 billion by 2033, accounting for 7 per cent of the total real estate transactions. This shows that there is a strong growth potential. 20. Why did Dubai introduce tokenisation of the property market? The objective is to attract global technology firms and open new investment opportunities for the investor market. It seeks to diversify property ownership by allowing multiple investors to co-own a single property through tokenised real estate assets.
Arabian Post
04-06-2025
- Business
- Arabian Post
Dubai's real estate market gets ready for US$500 million fund for tokenisation
By Saifur Rahman Nisus Finance Investment Consultancy FZCO (NiFCO Dubai), a subsidiary of India's Nisus Finance Services Company Limited (NIFCO), said it will place funds and assets worth up to US$500 million (Dh1.83 billion) for tokenisation in the UAE. NiFCO Dubai said, it has signed a Memorandum of Understanding (MoU) with Xchain Technologies FZCO (Toyow), a leading blockchain-based forensic and advisory firm, for the tokenisation of funds and assets worth up to US$500 million (Dh1.83 billion), as the market shifts towards Web3 technology. ADVERTISEMENT Tokenisation, the process of converting ownership rights of real-world assets into digital tokens, is gaining traction in the Middle East, particularly in Dubai. This trend is driven by the potential for increased liquidity, accessibility, and transparency in real estate investment. Nisus Finance plans to conduct a Security Token Offering (STO) of its real estate assets under management (AUM) through Toyow's marketplace. Toyow will provide end-to-end technical support, including smart contract development, blockchain integration, and regulatory alignment. The news comes a few days after Dubai Land Department (DLD) launched the region's first tokenised real estate investment project through the 'Prypco Mint' platform. The initiative is being implemented in partnership with Prypco. These are in line with the UAE's futuristic national vision focusing on technology and innovation. The news comes a few days after the DLD launched the region's first tokenised real estate investment project in collaboration with the Virtual Assets Regulatory Authority (VARA), the Central Bank of the UAE, and the Dubai Future Foundation (DFF). With DLD projecting tokenised real estate transactions to reach Dh60 billion by 2033 — or 7 percent of the total market — Dubai is clearly positioning itself as a global hub for asset tokenisation. 'This MoU will help us develop real estate funds on the Web3 blockchain technology platform – that is set to revolutionise investment in real estate in the future,' Amit Goenka, Chairman and Managing Director of Nisus Finance Group (NiFCO), said. 'This would be our first such venture and depending on how the market responds, will usher in a new era in the UAE's high-growth real estate market. ADVERTISEMENT 'STO on a Web3 platform is secure, transparent and set to drive future real estate investment. Property developers are already introducing cryptocurrency and tokenisation as new channels of payment and raising funds. We are taking it a step forward by creating funds to accelerate the growth of the real estate market.' Dubai is taking a leadership role in the Middle East in real estate tokenisation, while the global real estate tokenisation market is expected to reach US$18.9 trillion by 2033. Tokenised private real estate funds are projected to grow to US$1 trillion by 2035, with a total market penetration rate of 8.5 percent. The tokenised ownership of loans and securitisations could grow to US$2.39 trillion by 2035, with a total market penetration rate of 0.55 percent, according to a report by the global business advisory firm Deloitte. Tokenisation could democratise the real estate market through crowdfunding and fractional ownership that will allow investors to invest smaller amount in high-value projects, according to experts. 'This will help an increased number of investors to participate in investing in properties through Web33 technology,' said a property analyst, requesting anonymity. 'However, there should be clear regulatory guidelines and massive public awareness drive for retail buyers and micro-investors to gain insights before investing their hard-earned savings in to tokenised assets.' As per the MoU, Xchain Technologies FZCO will tokenise Nisus Finance's Real Estate Assets Under Management (AUM) worth up to US$500 million (Dh1.83 billion) as security tokens on Toyow, a global multi-category tokenised Real World Assets (RWA) marketplace. Toyow will leverage its platform to provide technical and operational support, including regulatory compliance across the UAE, DIFC, and international jurisdictions. Investors holding the Toyow Token will be able to invest in this fund using Toyow Token ($TTN). 'The tokenised real-world assets market (excluding stable coins) reached $15.2 billion by December 2024. This growth is fueled by a supportive regulatory landscape, technological advancements, and increased investment from financial institutions,' according to reports. The growth in real estate tokenisation is driven by several factors, including: increased institutional Interest; clear regulatory support; technological maturation; investment opportunities as tokenisation allows for fractional ownership and access to real estate for a wider range of investors, including those with lower investment capital. Surajit Chanda, Co-founder, Toyow, says, 'Partnering with Nisus Finance on an STO of this scale underscores the growing maturity of real-world asset tokenization in the region. At Toyow, our mission is to unlock liquidity and access for high-quality assets by offering a secure, compliant, and scalable infrastructure. This collaboration reinforces our belief that institutional-grade tokenization is no longer a concept—it's here, it's accelerating, and it's changing how capital flows into real estate.' Toyow will also manage investor onboarding and KYC/AML compliance, provide secure wallet and custody infrastructure, and enable both primary issuance and secondary trading of the tokenised assets—all within a seamless, compliant ecosystem designed for institutional-grade scalability. Toyow is redefining access to real-world assets by enabling the tokenisation of categories like real estate, art, precious metals, alternative investments, and more, on-chain. Built for institutional-grade compliance and scalability, Toyow enables asset owners to digitise, fractionalise and monetise high-value assets, while offering investors secure, transparent access to global investment opportunities through a liquid, blockchain-powered marketplace. The partnership is part of Toyow's growing tokenisation pipeline valued at over US$38 billion across multiple asset classes and jurisdictions globally. As per the MoU, Toyow will list the tokenised real estate assets on its marketplace for primary and secondary trading, while managing liquidity mechanisms for the secondary trading of security tokens. In addition to these, Toyow will also oversee marketing, investor outreach, and awareness campaigns for the STO, in addition to providing a secure wallet infrastructure and custody solutions for tokenised assets. It will also handle all aspects of investor onboarding and operational execution for the STO, including customer support and transaction management. Disruptive technologies, such as asset tokenisation, are poised to transform real estate over the next few years. Built on blockchain technology, tokenisation converts physical or financial assets into fractional, digital representations that can be securely owned and traded online. 'Tokenised real estate could not only pave the way for new markets and products, but also give real estate organisations an opportunity to overcome challenges related to operational inefficiency, high administrative costs charged to investors, and limited retail participation,' according to a report by Deloitte. Tokenisation allows capital generation across the capital stack- including debt, equity, and hybrid funding on a single platform. Over the last eight years, since the first tokenised real estate deals were completed, it has helped open potential new avenues for real estate investment through fractional ownership, the report says. This technology could help build trillions of dollars of economic activity for the real estate sector over the next decade, in part, by allowing it to expand its investor base and product offerings. The Deloitte Center for Financial Services predicts that US$4 trillion of real estate will be tokenised by 2035, increasing from less than US$0.3 trillion in 2024, with a CAGR of 27 percent. Also published on Medium. Notice an issue? Arabian Post strives to deliver the most accurate and reliable information to its readers. If you believe you have identified an error or inconsistency in this article, please don't hesitate to contact our editorial team at editor[at]thearabianpost[dot]com. We are committed to promptly addressing any concerns and ensuring the highest level of journalistic integrity.
