Dubai’s rapid push into blockchain-powered real estate continues with the launch of its second tokenized property, PRYPCO Mint announced on Tuesday. The new offering features a one-bedroom apartment in Kensington Waters, Mohammed Bin Rashid City, valued at AED 1.5 million.
The launch follows the overwhelming success of PRYPCO Mint’s first tokenized property, which was fully subscribed within 24 hours of listing. The platform’s second release further cements Dubai’s growing reputation as a global leader in blockchain-driven real estate innovation and fractional ownership investment.
Strong Demand Signals Investor Confidence
“The incredible response to our first tokenized property proved that investors are ready for a smarter, more accessible way to invest in real estate,” said Amira Sajwani, founder and CEO of PRYPCO. “With our second property, we’re continuing to break down traditional barriers and offer high-quality opportunities to a broader, more diverse audience. This is just the beginning of our mission to democratize property ownership.”
The Kensington Waters unit is being offered at a discounted price compared to its estimated market value of AED 1.875 million, providing investors with immediate equity and value. Ownership stakes start as low as AED 2,000, allowing a new generation of investors to enter the Dubai property market through fractional ownership.
A Landmark for Blockchain Real Estate
Launched on May 25, 2025, PRYPCO Mint is a joint venture between the Dubai Land Department (DLD) and PRYPCO, licensed by Dubai’s Virtual Assets Regulatory Authority (VARA). It made history by completing MENA’s first fully tokenized real estate transaction, marking a major milestone in the evolution of property investment in the region.
The platform’s debut property—a two-bedroom apartment in Business Bay—was listed at AED 2.4 million, below its DLD valuation of AED 2.89 million. The listing drew 224 investors from over 40 nationalities, with an average investment of AED 10,714, and sold out within a single day. The Dubai Land Department also issued official Property Token Ownership Certificates to the buyers, formally recognizing blockchain-backed property ownership under Dubai’s legal framework.
Preparing for International Expansion
The Real Estate Tokenization project operates under a regulatory structure developed by the DLD in collaboration with VARA, the Central Bank of the UAE, and the Dubai Future Foundation (DFF), via the Real Estate Sandbox initiative.
Blockchain infrastructure for the project is powered by Ctrl Alt, utilizing the XRP Ledger for secure token issuance, while Zand Bank serves as the official banking partner to ensure full financial integration.
Aimed at tech-savvy investors, millennials, and first-time property buyers, PRYPCO Mint offers a fully digital, mobile-first experience. The platform transforms real estate investment—traditionally a capital-intensive and slow-moving market—into a more flexible, liquid, and accessible asset class.
Currently open to UAE residents holding Emirates IDs, PRYPCO Mint plans to expand its offering to international investors in the next phase, further enhancing Dubai’s position as a global hub for real estate innovation.
