Dubai Sees the Introduction of PRYPCO's Second Tokenized Real Estate Asset
In a significant step forward for the UAE's real estate market, PRYPCO Mint has announced the launch of its second tokenized property sale on June 11, 2025. The offering is a one-bedroom apartment in Kensington Waters, located in Mohammed Bin Rashid City.
The property, valued at AED 1.5 million, is being offered at a discounted rate of AED 1.875 million. This expansion could further position Dubai as a global hub for tokenized real estate and innovative investment models.
PRYPCO Mint's platform, which offers a mobile-first experience, aims to democratize premium property ownership by providing minimum investment entry points starting from AED 2,000. The company reiterates its aim to remove traditional barriers associated with real estate ownership and create opportunities for a wider demographic, including millennials and first-time investors.
The success of the inaugural launch, a two-bedroom apartment in Business Bay, indicates a market readiness for more inclusive and tech-driven property investment models. The property received an overwhelming response from 224 investors from more than 40 nationalities, with the average contribution per investor being AED 10,714. The investment goal for the Business Bay property was achieved in under 24 hours.
The Real Estate Tokenization project is led by the Dubai Land Department and supported by key institutions including VARA, the Central Bank of the UAE, and the Dubai Future Foundation. The DLD has issued Property Token Ownership Certificates to the initial group of investors, formally recognizing tokenized property as a legitimate asset class within the UAE's legal environment.
PRYPCO Mint's platform operates under the Real Estate Sandbox framework, blending traditional real estate practices with modern blockchain technologies. Zand Bank has been selected as the official banking partner, ensuring comprehensive financial integration.
The company responsible for the blockchain infrastructure and the issuance of secure property tokens over the XRP Ledger at PRYPCO Mint is Ctrl Alt, in collaboration with the Dubai Land Department and Prypco Mint platform. Currently, the platform is limited to UAE residents holding valid Emirates IDs.
However, PRYPCO has plans to expand access to international investors in upcoming phases, positioning itself as a key player in the global tokenized real estate market. The company is paving the way for a more accessible future in property investment with blockchain-backed ownership and institutional support.
The success of PRYPCO Mint's tokenized property sales could signal a new era for the real estate industry, making premium property ownership more accessible and inclusive for a wider demographic.
