Dubai continues to solidify its position at the forefront of digital real estate innovation, setting a new global benchmark with its latest blockchain-powered property sale. In a record-breaking transaction, the Dubai Land Department’s second tokenized property offering was fully subscribed in just 1 minute and 58 seconds—marking the fastest blockchain-backed real estate sale ever recorded worldwide.
The offering, launched via the PRYPCO Mint platform, drew participation from 149 investors representing 35 nationalities. Over 10,700 additional potential buyers joined a waitlist, highlighting soaring global interest in fractional digital property ownership under Dubai’s expanding Property Tokenization Initiative.
The featured unit—a one-bedroom apartment in Kensington Waters, located within Mohammed Bin Rashid City—was listed at AED 1.5 million, a discounted price from its estimated market value of AED 1.875 million. Through fractional ownership starting at just AED 2,000, the offering opened the doors for micro-investors to access Dubai’s prime property sector. The swift sell-out followed the success of Dubai’s inaugural tokenization event in May 2025, which had sold out within 24 hours, further confirming rising global appetite for blockchain-based real estate investment.
PRYPCO Mint operates in partnership with the Dubai Land Department and PRYPCO under a regulatory framework overseen by the UAE’s Virtual Asset Regulatory Authority (VARA), the UAE Central Bank, and the Dubai Future Foundation through the Real Estate Sandbox initiative. The underlying blockchain infrastructure is powered by Ctrl Alt and built on the XRP Ledger, with Zand Digital Bank providing banking support to ensure full integration of tokenized assets with official land records.
Dubai’s embrace of property tokenization arrives at a time of strong real estate market momentum. In May alone, Dubai posted total real estate sales of AED 66.8 billion, representing a 44% year-on-year increase. The surge was fueled largely by a 314% rise in primary market sales, with experts pointing to tokenization as a key driver of this unprecedented growth. Scott Thiel, CEO of Tokinvest, emphasized that “tokenization will not just accompany the next record, we believe it will help drive it,” underlining widespread confidence in the sector’s future.
Looking ahead, Dubai Land Department estimates that tokenized assets could represent as much as 7% of the city’s total real estate market by 2033, potentially amounting to US$16 billion. The initial tokenized offering earlier this year attracted 224 investors from over 40 countries, with all certificates of ownership secured on blockchain, ensuring legal clarity and transparency.
The implications for investors and developers alike are profound. “The property sold out in less than two minutes, with an average investment around AED 10,000—a clear sign of the market’s hunger for on-chain fractional property ownership,” said Zaher El Orm, a Dubai-based blockchain advocate. He also noted that title certifications were processed and issued within hours, showcasing the operational efficiency enabled by blockchain infrastructure.
Dubai’s broader ambitions as a global digital asset hub have been reinforced by major developers joining the tokenization movement. Earlier this year, DAMAC Group announced plans to tokenize US$1 billion worth of assets through the MANTRA platform, aligning with VARA’s expanded regulatory framework introduced in May, which now extends tokenization guidelines to include real-world assets.
Building on this momentum, Dubai Land Department and PRYPCO are preparing to scale PRYPCO Mint’s future offerings, encouraging early registrations for upcoming phases. These next steps will widen access for both domestic and international investors, as additional developers come on board and the pilot phase transitions into full-scale implementation.
With tokenization lowering entry barriers, increasing liquidity, and embedding ownership records securely on blockchain, Dubai is rapidly reshaping its real estate sector. The city’s digital-first approach is transforming property investment into a more inclusive, efficient, and globally accessible market. As the platform’s reach expands, tokenized real estate may soon become a mainstream pillar of Dubai’s thriving property landscape.
