Dubai's new real estate tokenised platform draws 6,000+ to waitlist
The Dubai Land Department (DLD) has issued its first Property Token Ownership Certificate, a blockchain-based document that formalises fractional ownership of real estate in the emirate. This follows the quick sell-out of the first tokenised property on the Prypco Mint platform, completed within just one day of launch.
The platform, licenced by the Virtual Assets Regulatory Authority (VARA) and created in partnership with the DLD, allows individuals to invest in real estate using tokenisation - a process that divides a property into smaller, affordable digital shares. These shares can be purchased by investors, opening the door to property ownership without needing to buy an entire unit.
The initiative has already attracted 224 investors, with 70 per cent investing in Dubai's real estate market for the first time. Participants came from 44 nationalities, and the average investment per person was approximately AED 10,714.
Interest in the platform continues to grow, with over 6,000 people currently on the waitlist.
This project is part of the Real Estate Tokenisation Initiative, supported by the Central Bank of the UAE and the Dubai Future Foundation, and developed through Real Estate Sandbox.
By making real estate more accessible, this initiative aims to expand the investor base, speed up transactions, and enhance transparency, aligning with long-term goals under the Dubai Real Estate Strategy 2033 and the Dubai Economic Agenda D33.
Looking ahead, the DLD is working to allow more real estate developers to list their projects on Prypco Mint — a move that could further reshape how people invest in property, both in the UAE and beyond.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
TAG 91.1
an hour ago
- TAG 91.1
UAE expresses solidarity with India over factory explosion
The UAE has expressed solidarity with India over a factory explosion that killed at least a dozen people. the Ministry of Foreign Affairs extended its condolences to the families of the victims and wished a speedy recovery for all those who were injured. A fire and explosion at a pharmaceutical factory in India's southern state of Telangana killed at least 12 people and injured several others. Prime Minister Narendra Modi in a social media post announced financial support of 200,000 Indian rupees (AED 8,570) each to the next of kin.
Sharjah 24
6 hours ago
- Sharjah 24
SDHR launches 2nd cohort of job seekers training programme
Broad Participation Across the Emirate This new cohort includes 788 trainees from among job seekers who have been distributed across five different training centers in the Emirate to ensure wide geographic coverage and convenient access for participants. These include 187 trainees in Sharjah City, 124 in the Central Region, 184 in Khorfakkan, 170 in Kalba, and 123 in Dibba Al Hisn. A Balanced Six-Month Training Journey The programme spans a total of six months and is structured to provide both academic and practical training. The first three months are dedicated to specialised qualification programmes designed to enhance the skills and competencies of the trainees, followed by another three months of field training in cooperation with accredited training institutions as well as government and semi-government organisations. As part of the programme's support structure, each trainee receives a monthly stipend of AED 6,000 throughout the duration of the programme. Orientation and Banking Services for Trainees During the introductory workshop, participants received a comprehensive overview of the programme's components and implementation mechanisms. In addition, there was a strong emphasis on the importance of administrative structure and professional discipline in the workplace. To facilitate financial arrangements, Sharjah Islamic Bank began activating participants' bank accounts to ensure the timely disbursement of their monthly stipends. A Strategic Vision to Empower Emirati Talent His Excellency Abdullah Ibrahim Al Zaabi, Member of the Sharjah Executive Council and Chairman of the Sharjah Department of Human Resources (SDHR), highlighted that the launch of this new cohort is a continuation of Sharjah's commitment to developing and empowering national talent. He emphasised that this initiative is a direct outcome of the leadership's vision to invest in human capital and to create meaningful employment opportunities for Emiratis. He noted that the previous cohort demonstrated the programme's success in preparing UAE nationals through targeted training that is closely aligned with the evolving needs of the labor market. A Sustainable Approach to Workforce Development Al Zaabi reaffirmed that the expansion of the programme in its second phase is a testament to the success of a strategy that links training directly with employment opportunities. He added that the Human Resources Department will continue to roll out this programme in partnership with a wide network of government and semi-government entities to ensure a sustainable and impactful outcome, enabling job seekers to confidently and competently enter the labor market.
Dubai Eye
10 hours ago
- Dubai Eye
UAE cracks down on firms not practising licensed activities
The UAE's Ministry of Human Resources and Emiratisation is cracking down on businesses violating labour laws. Since the start of the year, around 1,300 establishments, linked to 1,800 employers, were found to be inactive despite having registered workers with no real employment ties. In response, the Ministry has suspended new work permits for these businesses, issued fines exceeding AED 34 million, and downgraded them to the lowest category in its classification system. Further action includes banning these owners from registering new establishments, in line with UAE labour regulations. The Ministry urges all employers to cancel licences and regularise workers' status if their business operations cease. It also highlighted the success of its smart inspection system in identifying non-compliant firms. Members of the public are encouraged to report violations by calling 60059000 or using the Ministry's smart app or website. The Ministry's monitoring system has detected around 1,300 establishments, owned by approximately 1,800 employers, that were not effectively practicing their licensed activities, despite having registered workers without a real employment relationship. Strict measures were taken… — وزارة الموارد البشرية والتوطين (@MOHRE_UAE) June 30, 2025
