Dubai has launched the pilot phase for its first government-backed tokenised real estate investment platform, which will allow UAE residents to buy fractional property shares on-chain.
According to a press release from the Dubai Land Department (DLD), the new platform, dubbed Prypco Mint, is being rolled out in partnership with blockchain firms Prypco and Ctrl Alt.
The initiative is supported by the Virtual Assets Regulatory Authority (VARA), the Central Bank of the UAE, and the Dubai Future Foundation, with Zand Digital Bank serving as the banking partner during the pilot phase.
What is Prypco Mint?
Prypco Mint enables UAE residents with a valid Emirates ID to invest in ready-to-own Dubai properties for as little as AED 2,000.
Users can access the platform via mint.prypco.com to purchase blockchain-based tokens representing fractional property ownership.
To ensure investor protection, all funds are held in regulated Client Money Accounts overseen by DLD, VARA, and the Central Bank of UAE.
These funds are released only after all transactions are complete. Each property listed on the platform must undergo a regulatory pricing review to ensure fairness.
Investors receive returns through a combination of rental income and potential appreciation in the value of the underlying asset, while holding a legally recognised share of ownership registered under DLD oversight.
For the duration of the pilot phase, all transactions will be conducted exclusively in UAE dirhams, with no support for cryptocurrency payments.
While the platform is currently limited to UAE residents, DLD has confirmed plans to expand the initiative globally in future phases.
Dubai sees potential in the tokenization market
According to the Dubai Land Department, tokenised property assets could make up as much as 7% of the city’s real estate market by 2033, which is estimated to be valued at AED 60 billion.
Officials have speculated that fractional ownership can significantly increase market liquidity, streamline transactions, and lower barriers to entry for smaller investors.
The launch of Prypco Mint falls under the Dubai Land Department’s broader Real Estate Evolution Space (REES) initiative, which was introduced to integrate emerging technologies and regulatory frameworks into the property sector.
Developed in partnership with the VARA, REES serves as a platform to pilot blockchain-based projects that enhance transparency, improve investor protections, and drive innovation in property ownership.
As previously reported by Invezz, REES was first announced in April as part of a strategic collaboration between DLD and VARA.
The agreement outlined plans to link Dubai’s official real estate registry with blockchain-powered property tokens, creating a formal governance structure for digital asset transactions.
Beyond real estate, Dubai has also introduced the Tokenization Regulatory Sandbox through the Dubai Financial Services Authority.
This parallel initiative allows crypto and fintech firms to test tokenised financial products under regulatory supervision.
The post Dubai’s first tokenized real estate platform rolls out with VARA oversight appeared first on Invezz
