The Dubai Land Department announced on Wednesday that its second tokenized property on the PRYPCO Mint platform was fully subscribed in a record-breaking time of just one minute and 58 seconds. The project attracted 149 investors from 35 different nationalities, with demand so high that the waiting list has now grown to over 10,700 potential investors.

This achievement reinforces Dubai’s position as a leader in the real estate sector and reflects growing investor confidence and enthusiasm for digital property ownership solutions within the emirate.

Setting New Benchmarks for Market Accessibility
The success of this offering highlights the effectiveness of the PRYPCO Mint platform, which operates under the Dubai Land Department’s Property Tokenization Initiative. By allowing investors to buy shares in ready-to-move-in properties through an easy and affordable process, the platform is establishing new standards for real estate market accessibility.

As PRYPCO Mint expands its portfolio and partnerships, it is driving toward a future where tokenized assets are expected to become a major component of Dubai’s property market by 2033.

The Dubai Land Department encourages interested investors to register early and create their accounts to secure opportunities in upcoming projects before they sell out, unlocking access to one of the world’s most innovative and dynamic real estate markets.

MENA’s First Fully Tokenized Real Estate Deal
Dubai’s second tokenized property is a one-bedroom apartment located in Kensington Waters, Mohammed Bin Rashid City, valued at AED 1.5 million. It was offered at a discounted rate compared to its estimated market value of AED 1.875 million, providing investors with immediate equity and value.

Fractional ownership was available starting at AED 2,000, continuing PRYPCO Mint’s mission to make premium real estate more accessible to a wider generation of investors.

Launched on May 25, 2025, PRYPCO Mint is a joint venture between the Dubai Land Department and PRYPCO, licensed by the Virtual Assets Regulatory Authority (VARA). It made history with MENA’s first fully tokenized real estate transaction, introducing a new asset class for UAE residents.

The platform’s inaugural tokenized property—a two-bedroom apartment in Business Bay—attracted 224 investors from over 40 nationalities. Priced at AED 2.4 million, below the DLD valuation of AED 2.89 million, it was fully funded within one day, demonstrating high demand for transparent, technology-driven, and value-focused real estate products.

Additionally, the Dubai Land Department has issued Property Token Ownership Certificates to the first group of investors, formally recognizing this blockchain-backed form of ownership. This milestone marks a significant step in integrating tokenized real estate into Dubai’s established legal framework.