Dubai Pioneers Tokenised Property Investment with Prypco Mint Launch
Dubai has introduced the Middle East and North Africa's first tokenised real estate investment platform, Prypco Mint, enabling individuals to invest in fractional shares of ready-to-own properties starting from AED 2,000. This initiative, spearheaded by the Dubai Land Department in collaboration with Prypco and Ctrl Alt Solutions, aims to democratise access to the emirate's property market.
Currently, the platform is accessible exclusively to holders of UAE Emirates IDs, with plans for global expansion in subsequent phases. Transactions are conducted solely in UAE Dirhams, and cryptocurrencies are not utilised during the pilot stage. Investors can access comprehensive property details, including pricing, risk factors, and technical specifications, ensuring transparency and informed decision-making.
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The project aligns with the Dubai Real Estate Sector Strategy 2033 and the Dubai Economic Agenda D33, which seek to position Dubai as a hub for smart real estate investment. Projections estimate that tokenised assets could account for up to 7% of Dubai's real estate market by 2033, equivalent to AED 60 billion .
Regulatory oversight is provided by the DLD for physical real estate and the Virtual Assets Regulatory Authority for digital assets, ensuring an integrated and transparent approach. The Central Bank of the United Arab Emirates plays a pivotal role in overseeing the opening of corporate accounts linked to real estate tokenisation through the Client Money Account system, safeguarding investor funds until the purchase process is fully completed.
Industry stakeholders have welcomed the initiative, viewing it as a significant step towards enhancing liquidity and accessibility in the property market. By enabling fractional ownership, the platform opens up investment opportunities to a broader base of investors, particularly those seeking smaller-scale investments.
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