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Own Dubai property from Dh2,000: More tokenised units soon as first ones sell out
Prypco Mint is a joint initiative by Prypco and the Dubai Land Department, licensed by the Virtual Assets Regulatory Authority
Developers across Dubai can now list their properties for tokenisation on Prypco Mint — the MENA region’s first real estate tokenisation platform launched in collaboration with the Dubai Land Department (DLD) and other regulatory bodies, according to Amira Sajwani, founder and CEO of Prypco.
“Properties from all developers are welcome. As long as a unit offers strong value to our investors, we’re happy to list it,” Sajwani told Khaleej Times in an interview.
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The platform’s first listed property — a two-bedroom apartment in Damac Prive Tower in Business Bay — was fully funded within a day. It drew 224 investors from over 40 nationalities, with the average investment being Dh10,714. Prypco Mint enables fractional ownership of premium Dubai real estate through blockchain-based tokens, with investments starting as low as Dh2,000.
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Prypco Mint is a joint initiative by Prypco and the Dubai Land Department, licensed by the Virtual Assets Regulatory Authority (Vara), and backed by Zand Bank as its strategic banking partner.
Following the platform’s strong debut, multiple developers — including those outside Damac — have shown interest in listing their properties. “We’re open to properties from any developer, as long as the unit provides solid value. Since we’re in the pilot phase, we need to take measured steps to ensure everything works smoothly,” Sajwani said.
The Dubai Land Department also issued the world’s first Property Token Ownership Certificate on Thursday, marking the official sale of the inaugural tokenised real estate asset on Prypco Mint. Interest in the platform remains high, with over 6,000 people on the waitlist.
Below market value to attract investors
Amira revealed that the first listed unit was priced below market value to encourage participation and test investor appetite.
“The market price was around Dh3 million, but we offered it for Dh2.4 million. It gave investors immediate upside and strong rental yield, making it an attractive starting point,” she explained.
She added that tokenised real estate appeals to many investors who prefer to start small — sometimes with as little as Dh2,000 — without taking on debt.
Participation is currently limited to UAE residents, but the platform plans to open up to international investors in the future.
Indian investors lead the way
“We launched the project to test the waters, and the response was phenomenal. On launch day, our website received 3.6 million visits. We had overwhelming traffic, and people continue to ask when the next property will be listed,” Sajwani noted.
Investors ranged widely in profile, contributing anywhere from Dh2,000 to Dh250,000 toward the Dh2.4-million property. Indian residents topped the list of investors, followed by UAE nationals.
Competitive returns
Sajwani, who also serves as managing director of Damac Properties and COO of Amali Properties, emphasised that returns on tokenised investments are on par with traditional real estate purchases.
“Rental yields in Dubai typically range from five to seven per cent, depending on location and the potential for capital appreciation. It’s the same with tokenised properties — you’re just investing alongside other individuals,” she explained.
When asked about introducing off-plan projects to the platform, Sajwani declined to comment, noting that such decisions are subject to government approval.
Waheed Abbas
Waheed Abbas is Assistant Editor, covering real estate, aviation and other business stories that directly affect the lives of UAE consumers. He frequently reports human interest stories, too.
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