The Dubai Land Department has launched the first certificate of ownership of Token owned by the world, after the successful sale of the first real estate project tokenized on the ‘Prypco Mint’ platform, graduated by Vara, within a launch day. This milestone further reinforces Dubai’s position as the world leader in real estate innovation and digital transformation.
The first project launched under the real estate tokenization initiative attracted 224 investors, 70% of which entered the real estate market of Dubai for the first time. This highlights strong investor confidence and accessibility provided by low -cost flexible digital solutions. Investors represented 44 nationalities, and the average individual investment amounted to AED10.714.
As the first platform of your child’s regions, the initiative continues to attract a significant interest, with the waiting list demanding 6,000 applications. This increase in demand reflects Dubai’s growing attraction to the new segments of global investors looking for innovative and accessible property models.
The Dubai Land Department developed the real estate tokenization project in collaboration with the Virtual Assets Regulatory Authority (Vara) and the Central Bank of the United Arab Emirates and the Dubai Future Foundation (DFF) of the Real Estate Sand box. It is running through Prypco Mint.
The initiative aims to expand the base of real estate investors while improving transparency and accelerates transaction processes, aligning with the objectives of Dubai Real Estate Strategy 2033 and the Dubai D33 economic agenda. The Dubai land department is currently working to allow real estate developers to list their projects on the platform, further expanding the scope of the initiative and unlocking new opportunities for investment in digital property.
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