Latest news with #Dh60
Time of India
13-07-2025
- Business
- Time of India
UAE: What is real estate tokenization? Dubai's Prypco sells out Dh1.75 million tokenized villa in under 5 mins
Tokenized real estate is projected to make up 7% of Dubai's property market by 2033, with an estimated value of Dh60 billion/ Representative Image TL;DR Prypco Mint sold a tokenized Dubai villa worth Dh1.75M in under five minutes to 169 investors. Real estate tokenization enables fractional ownership, offering secure, low-barrier access via blockchain. Tokenized assets could make up 7% of Dubai's real estate market, worth Dh60B by 2033. A Breakthrough Moment for Property Investment in Dubai As Dubai positions itself at the forefront of innovation in real estate, a new form of property ownership is rapidly gaining traction — real estate tokenization. This digital-first model is making real estate more accessible, efficient, and inclusive, and one company is leading the charge: Prypco Mint. In its latest milestone, Dubai-based tokenization platform Prypco Mint sold out its third tokenized property, a Dh1.75 million villa in Dubailand's Rukan Community, in under five minutes. The property was co-owned by 169 investors representing 40 different nationalities, each investing an average of Dh10,355. This achievement builds on a strong track record for the company. Prypco's first tokenized property was funded in under 24 hours, and its second was subscribed in just two minutes. Currently, only individuals with a valid Emirates ID can invest through the platform, but Prypco is preparing to open its marketplace to international investors, expanding access to Dubai's high-growth real estate sector. The momentum continues, with two more tokenized properties set to launch on July 15. These developments come as tokenized assets are projected to account for 7% of Dubai's real estate market by 2033, representing a potential market size of Dh60 billion. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Free P2,000 GCash eGift UnionBank Credit Card Apply Now Undo What Is Real Estate Tokenization ? Real estate tokenization is a method of transforming the value of a physical property into digital units called tokens. These tokens are stored and managed on a blockchain, a secure, decentralized digital ledger that records all transactions. Each token represents a fractional ownership stake in the property, allowing multiple investors to collectively own a piece of real estate without needing to buy the entire asset. To put it simply, imagine dividing a property into a million tiny digital pieces. If someone buys 10,000 of those pieces, they effectively own 1% of that property. This fractional ownership model allows people to invest according to their budget, dramatically lowering the traditional barriers to entering real estate markets. The blockchain technology behind this system ensures that ownership records are tamper-proof, transparent, and secure. All changes to the records are immediately visible to all parties, significantly reducing the potential for fraud and disputes. In essence, tokenization removes the traditional complexities of property transactions, like endless paperwork, slow transfers, and high entry costs, replacing them with a digital system that is faster, more accessible, and easier to manage. Why This Matters: The Key Benefits of Tokenized Real Estate Tokenized real estate is not just a trend, it's a transformation in how people can access and benefit from property investment. Here's how: Increased Liquidity Unlike traditional real estate, where selling a property can take months, tokenized assets allow owners to buy and sell fractional shares easily, making it simpler to exit or adjust investments as needed. Lower Barriers to Entry Historically, investing in property required large capital commitments, often tens or hundreds of thousands of dollars. Tokenization reduces this threshold dramatically, with minimum investments on platforms like Prypco starting as low as Dh2,000 (approximately $540). Transparency and Security Because all transactions and ownership data are recorded on blockchain, every action is verifiable, and data cannot be changed retroactively. This makes the system more trustworthy and significantly reduces the risk of fraud. Global Participation Tokenized real estate platforms enable cross-border investment. Although Prypco currently only allows Emirates ID holders to invest, it has announced plans to welcome international investors soon, potentially opening Dubai's property market to a much larger global audience. Cost and Time Efficiency Digital transactions are generally faster and cheaper than traditional real estate deals. A recent survey by EY showed that 58% of high-net-worth investors view lower transaction costs as a major incentive to explore tokenized assets. Alignment with National Vision The push for tokenized real estate aligns closely with the Dubai Economic Agenda D33 and the Dubai Real Estate Sector Strategy 2033, both of which emphasize innovation, digitization, and economic diversification. Who Is Prypco Mint and What Are They Building? Prypco Mint is a licensed and regulated platform specializing in real estate tokenization, headquartered in Dubai. The company is officially licensed by the Dubai Virtual Assets Regulatory Authority (VARA) and operates in strategic partnership with the Dubai Land Department (DLD), two institutions central to real estate governance and innovation in the UAE. Prypco's mission is to modernize real estate investment by making it more inclusive, efficient, and secure. The platform allows investors to select properties, choose the number of tokens they want to purchase, and complete transactions digitally, all while maintaining full compliance with legal frameworks. By enabling fractional ownership, Prypco gives investors the ability to diversify their portfolios, enter premium real estate markets with smaller budgets, and track their holdings in real time through digital dashboards. In a region where traditional real estate processes can still be manual and time-intensive, Prypco represents a leap forward. The platform is being positioned as a future-ready solution aligned with Dubai's vision of becoming a global hub for digital assets and smart city innovation. The Future of Real Estate is Fractional, Digital, and Borderless The growing interest in platforms like Prypco shows a shift in how people view and access real estate. Tokenization is no longer just a theoretical concept; it is an operational model being deployed successfully in a major global city. With strong regulatory backing, enthusiastic investor response, and a roadmap for international expansion, Prypco is paving the way for a more accessible and efficient real estate market. Tokenized real estate is opening opportunities not only for high-net-worth individuals but also for first-time investors, expatriates, and global participants looking to enter Dubai's thriving property sector. If projections hold true, by 2033, Dh60 billion worth of Dubai real estate could be tokenized. That means everyday investors from around the world might soon co-own villas, apartments, and buildings in one of the world's most dynamic real estate markets, all without ever setting foot in a brokerage office. FAQs: Q. What is real estate tokenization? Real estate tokenization is the process of turning a property into digital tokens on a blockchain, allowing people to buy small shares and co-own the property. Q. How does tokenization make investing easier? It lowers the cost to enter, lets investors buy fractions of a property, and allows quicker, more secure transactions through blockchain technology. Q. What did Prypco Mint recently achieve? Prypco Mint sold a Dh1.75 million tokenized villa in under five minutes to 169 investors from 40 nationalities, showing strong demand. Q. Who can invest through Prypco Mint? Currently, only Emirates ID holders can invest, but Prypco plans to open to international investors soon. Q. How big can tokenized real estate become in Dubai? By 2033, tokenized assets are expected to make up 7% of Dubai's real estate market, with a projected value of Dh60 billion.
Al Etihad
07-07-2025
- Business
- Al Etihad
ADIB advances sustainable finance agenda with Dh17.3 billion in sustainable finance mobilised
7 July 2025 19:23 ABU DHABI (WAM) Abu Dhabi Islamic Bank (ADIB) has reported the mobilisation of over Dh17 billion in sustainable finance as of year-end 2024, marking continued progress toward its Dh60 billion sustainable finance commitment by update coincides with the release of ADIB's 2024 Sustainability Report, which details material advancements in climate alignment, ESG governance, and inclusive growth in line with UAE Net Zero 2050 strategy and UAE 2031 year's report highlights key achievements, including the publication of ADIB's first sector-specific financed emissions targets, making it the first Islamic bank in the region to set such interim 2030 cover six high-emission sectors, such as real estate, utilities, and home finance, aligned with IEA Net Zero scenarios and the UAE's national decarbonisation part of its commitment to international best practices, ADIB also conducted a double materiality assessment in accordance with the European Sustainability Reporting Standards (ESRS) to evaluate both the financial and societal impacts of its activities, a critical step to understand the material impacts, risks and opportunities (IROs) on the economy, environment, and Double Materiality Assessment was performed within the context of each of the ESRS topical standards, covering environmental, social, and governance also published its inaugural Green Sukuk allocation and impact report for its $500 million Green Sukuk issuance. As of December 2024, 90% of proceeds have been allocated toward renewable energy, energy efficiency, and sustainable water infrastructure, contributing to over 607,000 tonnes of estimated annual avoided ADIB reported an 87% drop in Scope 1 emissions compared to 2022 and a 3.51% reduction in Scope 2. These improvements reflect continued investments in energy efficiency, electrification, and operational optimisation across the on this, Mohamed Abdelbary, Group Chief Executive Officer at ADIB, said, 'Putting sustainability at the heart of what we do is one of the three key pillars of our 2035 vision. We're proud of the progress we're making, and how we're using our financing to contribute to the transition of our customers and the economy. Our latest sustainability disclosures reflect our steadfast commitment to ethical, inclusive, and climate-aligned banking. From leading the region in green sukuk to setting the benchmark on sectoral decarbonisation, we are taking decisive steps toward a low-carbon added, 'Our double materiality assessment reinforces ADIB's commitment to credible, decision-useful disclosure. It ensures we understand not only how sustainability impacts our business but how our business impacts the environment, society and economy. This is central to how we plan, report and act. ADIB continued to strengthen its social impact agenda in, achieving a 44% Emiratisation rate, with women comprising 72% of UAE national hires and 39% of the total workforce.
Gulf Insider
04-07-2025
- Business
- Gulf Insider
Luxury Real Estate Boom: Dubai Outshines London, Miami, Phuket
Dubai has officially cemented its position as the world's branded residence capital, leading a global shift in luxury real estate where lifestyle, prestige, and brand power now rival square footage and skyline views. According to a new report by Betterhomes, Branded Residences: Dubai vs The World , the emirate is experiencing a meteoric rise in branded residential developments, with over 140 branded projects set for delivery by 2031—more than any other city on the planet. That marks a 160% growth in the segment over the last decade. The numbers behind the trend are staggering. In 2024 alone, Dubai sold over 13,000 branded homes, generating Dh60 billion in transaction value—a 43% year-on-year increase. Buyers are paying 40% to 60% premiums on branded units compared to standard luxury homes, drawn in by the promise of concierge living, long-term capital appreciation, and the halo effect of globally recognized names. 'High-net-worth buyers are no longer just looking for property. They're investing in lifestyle, brand value, and long-term growth,' said Christopher Cina, Director of Sales at Betterhomes. 'Dubai offers all three, and that's why it's outperforming legacy markets like London and Miami.' Dubai's rise isn't just about quantity—it's about strategic positioning. While cities like Miami boast ultra-luxury residences (like the Aston Martin Residences fetching up to Dh25,000 per square foot), Dubai offers comparable brand appeal at more competitive prices. For instance, Bvlgari Residences are priced at around Dh10,500 per square foot, while Bugatti Residences command a 237% premium, yet remain within reach for global investors. Beyond price, Dubai trumps competitors in three key areas: Tax advantages over London More accessible pricing than Miami Stronger growth potential than Phuket or Spain In contrast, while London's OWO Residences reach Dh20,000 per square foot, tax burdens and red tape dampen investor enthusiasm. Thailand and Spain may offer luxury appeal, but they lack Dubai's liquidity, speed of execution, and investor-centric ecosystem. Once the domain of legacy hospitality names like Four Seasons or Ritz-Carlton, today's branded residence market is a kaleidoscope of luxury labels—from fashion houses to supercar brands. In Dubai, this diversification is on full display: Bugatti Residences by Binghatti Armani Beach Residences by Arada Six Senses Residences by Select Group Master developers like Emaar, Meraas, and Nakheel have also doubled down on brand-centric communities that blur the line between home and lifestyle destination. As the branded model gains traction, the MENA region is projected to hit 25% market share in branded residences by 2030, with Dubai leading the charge. Dubai's real estate surge isn't just about architecture or amenities—it's about experience. Buyers aren't just acquiring a home; they're aligning themselves with an identity. It's a Bugatti lifestyle, a Bvlgari vision, an Armani address. That emotional connection is translating into real-world value. With branded residences now representing 8.5% of Dubai's total real estate transaction value, the trend isn't slowing down—it's accelerating. As the global appetite for branded living grows, one thing is clear: Dubai isn't just keeping pace—it's setting the standard. With its unmatched blend of brand integration, investor-friendly environment, and lifestyle innovation, the emirate is not just building homes—it's building the future of luxury living. Dubai's branded residence market is no longer an emerging trend—it's a global benchmark. Investors, developers, and lifestyle brands alike are now looking to the city as the blueprint for high-end, brand-powered urban living.
Gulf Today
31-05-2025
- Politics
- Gulf Today
UAE President honours judge who waived Dhs60,000 fine on an Afghan family
UAE President His Highness Sheikh Mohamed Bin Zayed Al Nahyan on Tuesday honoured judge Hamid Al Ali of the Umm Al Quwain Federal Court of First Instance who cancelled a Dh60,000 fine for an Afghani overstayer. Sheikh Mohamed said that what the judge did represents the traits and culture of the Emirati people. Judge Al Ali recalled this story after many years. He said that once he had a case of an Afghani overstayer who failed to renew residency visas for himself, his wife, and their four children over five years due to personal circumstances. When Al Ali asked about the reason the man said that his Emirati sponsor was diagnosed with cancer and he had to stay beside him in hospital and did not think about his legal status. Al Ali said that during the hearing, he saw the man's young son standing beside him and asked for his name, to be surprised that his name was Zayed. Al Ali then removed the UAE flag scarf from around his shoulders and wrapped the child's shoulders with it saying 'Zayed is not fined but honoured' before he cancelled the penalties.
Al Etihad
30-05-2025
- Al Etihad
Operation 'Al-Misbah': Dubai Police arrest begging ring of 41 suspects residing in hotel
30 May 2025 13:17 DUBAI (ALETIHAD) The Dubai Police arrested 41 Arab nationals for organised begging as part of Operation Al-Misbah. All the detained individuals were residing in the same hotel, and over Dh60,000 was seized from Dubai Police stated that this operation is part of the "Combat Begging" campaign, aimed at raising awareness about the dangers of begging and enhancing the UAE's civil image. The police acted on a tip-off regarding individuals begging while selling prayer surveillance, police arrested three suspects who admitted to being part of a larger group operating with visitor visas. In coordination with hotel management, 28 more individuals were arrested, and 10 others were apprehended while attempting to leave, Dubai Police Dubai Police highlighted that the annual "Combat Begging" campaign has successfully reduced begging through strict enforcement and increased patrols. They also encourage donations only through licensed organisations and urge the community to report begging activities via the toll-free number 901 or the Dubai Police app.
