Dubai has taken a major step toward reshaping global property investment. In May 2025, the Dubai Land Department (DLD) launched the region’s first official real-estate tokenization pilot, introducing fractional ownership of property through the new Prypco Mint platform. The initiative is run in cooperation with the Virtual Assets Regulatory Authority (VARA), the UAE Central Bank, and the Dubai Future Foundation (DFF), positioning the emirate as a global pioneer in blockchain-enabled real estate.
A First for the Middle East
The project makes Dubai the first government property registry in the Middle East to tokenize official property title deeds. It is a central element of the Real Estate Sector Strategy 2033, which seeks to expand access, enhance transparency, and attract more international investors. Authorities project that by 2033, tokenized assets could represent around 7% of Dubai’s property market, equal to nearly 60 billion AED (~€15–16 billion).
H.E. Eng. Marwan Ahmed Bin Ghalita, Director General of DLD, emphasized:
“Real-estate tokenisation emerges as a revolutionary tool. By converting real-estate assets into digital tokens recorded on blockchain, tokenisation simplifies and enhances buying, selling, and investment.”
How the Pilot Works
The Prypco Mint platform, launched on 25 May 2025, tokenizes property title deeds and records ownership directly on blockchain. For now, access is restricted to UAE residents with a valid UAE ID, and transactions are processed exclusively in dirhams (AED).
- Minimum investment: 2 000 AED (≈ €545)
- First property example: A villa worth 1.75 million AED (~€435 000) was fully sold out in under 24 hours
- Investors: 224 buyers from 40 nationalities, with an average contribution of ~10 700 AED
- Market response: Subsequent offers were sold out in less than two minutes, with a waiting list exceeding 10 700 people
These results highlight the appetite for tokenized assets in Dubai’s market. The model allows investors — including small retail participants — to gain exposure to real estate at a fraction of the traditional entry cost.
Technology and Partnerships
The pilot is supported by Ctrl Alt Solutions for tokenization infrastructure, with Zand Digital Bank providing banking support. While Ripple and XRPL have been linked to tokenization initiatives in the region, the DLD’s official pilot focuses primarily on Prypco Mint and its listed technology partners.
At this stage, the system does not involve cryptocurrency payments. All transactions are conducted in national currency (AED). However, authorities have indicated that once regulations evolve, the platform could be expanded to international investors, potentially enabling cross-border participation.
Global Context
Dubai’s move fits within a wider global trend toward asset tokenization. From Singapore to New York, real estate markets are experimenting with digital ownership models that promise to increase liquidity, lower costs, and make property investment more accessible. What sets Dubai apart is the integration of blockchain directly into its government property registry. This ensures that digital tokens represent legally recognized ownership, giving the system stronger credibility than purely private initiatives.
Opportunities and Challenges
For investors, the opportunity is significant: a chance to enter Dubai’s dynamic property market with smaller capital outlays, backed by an official government framework. This could attract younger investors, expatriates, and retail buyers who previously found the market financially out of reach.
Challenges remain, particularly around regulation, investor protection, and cross-border taxation. Authorities will also need to clarify how tokenized assets can be traded, resold, or inherited. Still, the link between tokens and official title deeds gives Dubai a strong advantage in building trust and ensuring transparency.
Conclusion
Dubai’s real-estate tokenization pilot is setting a new standard for property ownership in the digital age. By combining blockchain transparency with officially recognized title deeds, the emirate is lowering entry barriers — starting from just 2 000 AED (~€545) — and attracting both retail and institutional investors.
If scaled successfully, this initiative could redefine how real estate is bought, sold, and held, positioning Dubai as a global leader in tokenized property markets.
