Dubai Witnesses the Debut of PRYPCO's Second Property Tokenization

Dubai Witnesses the Debut of PRYPCO's Second Property Tokenization

In the heart of Dubai, PRYPCO Mint is set to launch its second tokenized property sale on June 11, 2025. This groundbreaking initiative, operating under the Real Estate Sandbox framework, blends traditional real estate practices with modern blockchain technologies.

The project, led by the Dubai Land Department (DLD) and supported by key institutions such as VARA, the Central Bank of the UAE, and the Dubai Future Foundation (DFF), aims to democratize premium property ownership and cater to a wider demographic, including millennials and first-time investors.

The expansion of this innovative venture could further position Dubai as a global hub for tokenized real estate and innovative investment models. The DLD has already 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 second offering is a one-bedroom apartment in Kensington Waters, Mohammed Bin Rashid City, valued at AED 1.5 million. Minimum investment entry points start from AED 2,000, making it more accessible for a broader audience.

The success of PRYPCO Mint's first launch, which achieved its investment goal in under 24 hours, indicates a market readiness for more inclusive and tech-driven property investment models. The company's platform is backed by blockchain-backed ownership and institutional support, with Ctrl Alt responsible for the blockchain infrastructure.

Zand Bank has been selected as the official banking partner, ensuring comprehensive financial integration. The average contribution per investor was AED 10,714, and the property, listed at AED 2.4 million, is discounted compared to its estimated market worth of AED 1.875 million.

PRYPCO's first property on the platform, a two-bedroom apartment in Business Bay, received an overwhelming response from 224 investors from over 40 nationalities. The company's mobile-first experience transforms real estate into a liquid, flexible, and inclusive investment vehicle, paving the way for a more accessible future in property investment.

As the second tokenized property sale approaches, the real estate landscape in Dubai continues to evolve, embracing the digital age and offering new opportunities for investors worldwide.