PRYPCO Mint unveils second tokenised property as Dubai expands blockchain real estate after historic sell-out
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.
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