Latest news with #tokenisedproperty
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.
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.
Zawya
10-06-2025
- Business
- Zawya
PRYPCO Mint unveils second tokenised property as Dubai expands blockchain real estate after historic sell-out
Dubai, UAE – Following the landmark success of its inaugural tokenised property, which was fully funded in under 24 hours, PRYPCO Mint has announced the launch of its second tokenised listing, set to go live on 11 June 2025. This next phase not only reinforces investor confidence in fractional property ownership but also strengthens Dubai's standing as a global pioneer in real estate innovation and blockchain-powered investment. The new property listing features 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. Through fractional ownership starting from just AED 2,000, the launch continues PRYPCO Mint's mission to make premium real estate accessible to a new generation of investors. 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.' Launched on 25 May 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 tokenised real estate transaction, opening the doors to a new asset class for residents across the UAE. The platform'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, 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 recognising this new form of blockchain-backed ownership. This regulatory milestone represents a key moment in institutionalising tokenised real estate within Dubai's robust legal framework. The Real Estate Tokenisation project operates under a framework developed by the Dubai Land Department in partnership with the Virtual Assets Regulatory Authority (VARA), the Central Bank of the UAE, the Dubai Future Foundation (DFF) via the Real Estate Sandbox. Ctrl Alt powers the project's blockchain infrastructure, issuing secure ownership tokens on the XRP Ledger, while Zand Bank serves as the official banking partner, ensuring robust financial integration. Targeting tech-savvy investors, millennials, and first-time buyers, PRYPCO Mint enables 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, further expanding Dubai's real estate footprint as a global innovation hub.
Khaleej Times
09-06-2025
- Business
- Khaleej Times
Dubai: Second tokenised property to be offered at discounted rate this week
The second tokenised property will be launched in Dubai this week, allowing residents to invest in the red-hot real estate market from as low as Dh2,000. Launched at Prypco Mint, the first tokenised unit from Damac Properties was fully funded in just one day last month, setting a regional benchmark for speed, demand, and investor confidence. The property attracted 224 investors from over 40 nationalities, with an average investment amount of Dh10,714. The second tokenised property will go live on Wednesday, June 11, at 11 am on the Prypco Mint. 'Following the remarkable success of the debut property, which was fully funded within 24 hours, we're excited to launch our second tokenised property on June 11, 2025. This listing features a one-bedroom apartment at Kensington Waters in Mohammed Bin Rashid City, developed by Ellington,' said Amira Sajwani, founder and CEO of Prypco. As an open, industry-first platform, she said Prypco Mint works with leading developers across the market to give investors access to the best opportunities in real estate, beyond any single developer affiliation. The new property is priced at Dh1.5 million, below its independently assessed market value of Dh1.9 million. 'We're focused on finding great deals and high-quality properties for our community, and this is another example of us delivering strong value for our investors,' she added. With a market value of Dh3 million, the first property was offered at a discount rate of Dh2.4 million. The Dubai Land Department said the waitlist exceeded 6,000 requests after the launch of the first tokenised property. 'It's clear there's a strong and growing demand for this new model of real estate investment. We're confident the second tokenised property will see an equally positive response. It's exciting to see investors embrace the benefits of liquidity, transparency, and accessibility, qualities that are transforming real estate from a traditionally static asset class into something far more dynamic and inclusive,' said Amira Sajwani. As awareness around tokenised property continues to grow, Prypco's founder said the biggest beneficiaries will be everyday residents who have traditionally been priced out of real estate investment. 'It's about financial inclusion, flexibility, and control. Residents can now start building their property portfolio in a smarter, more accessible way, whether they're investing for the first time or looking to diversify their assets,' she added.
Arabian Business
29-05-2025
- Business
- Arabian Business
Dubai takes major tokenised real estate project step with world-first investment
The Dubai real estate sector leading the world again as tokenised property sells out and new ownership certificate launched. Dubai Land Department has launched the world's first Property Token Ownership Certificate, following the successful sale of the first tokenised real estate project on the 'Prypco Mint' platform — licensed by VARA — within just one day of launch. This milestone further reinforces Dubai's position as a global leader in real estate innovation and digital transformation. Dubai tokenised real estate The first project launched under the Real Estate Tokenisation Initiative attracted 224 investors, 70 per cent of whom entered Dubai's real estate market for the first time. This highlights strong investor confidence and the accessibility provided by flexible, low-cost digital solutions. Investors represented 44 nationalities, and the average individual investment amounted to AED10,714 ($2,917). This surge in demand reflects Dubai's growing appeal to new segments of global investors seeking innovative and accessible property ownership models. Dubai Land Department developed the Real Estate Tokenisation project in collaboration with the Virtual Assets Regulatory Authority (VARA) and the Central Bank of the United Arab Emirates and the Dubai Future Foundation (DFF) through the Real Estate Sandbox. It is being executed through Prypco Mint. The initiative aims to broaden the real estate investor base while enhancing transparency and accelerating transaction processes, aligning with the Dubai Real Estate Strategy 2033 goals and the Dubai Economic Agenda D33.
