Dubai Launches First Property Token Ownership Certificate
The Dubai Land Department has introduced the world’s first Property Token Ownership Certificate, following the successful sale of the first tokenized real estate asset via the Prypco Mint platform. This groundbreaking initiative is licensed by the Virtual Assets Regulatory Authority (VARA).
Within just 24 hours of launch, the first project attracted 224 investors, 70% of whom were first-time participants in the Dubai real estate market. Investors came from 44 different nationalities, with an average contribution of AED 10,714 per person. This milestone reflects growing confidence in digital and fractional ownership models.
With over 6,000 individuals on the waitlist, demand for tokenized real estate is surging. The Real Estate Tokenization Initiative supports Dubai’s long-term digital goals under the Dubai Real Estate Strategy 2033 and the Dubai Economic Agenda D33.
The initiative was developed in collaboration with VARA, the UAE Central Bank, and the Dubai Future Foundation, and executed within the Real Estate Sandbox. The platform aims to simplify real estate investment, making it accessible to a broader global audience.
Dubai Land Department is now enabling more developers to list their projects on the platform, opening new avenues for participation in the real estate sector via secure and innovative digital channels.
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