DUBAI – Dubai has launched the Middle East and North Africa region’s first tokenised real estate investment project, allowing individuals to buy shares in property starting from AED 2,000 (USD 545), authorities said Sunday.
The initiative, led by the Dubai Land Department (DLD) in partnership with Prypco, is backed by the Virtual Assets Regulatory Authority (VARA), the UAE Central Bank and the Dubai Future Foundation. The pilot phase is restricted to UAE residents with Emirates IDs and transactions are accepted only in UAE Dirhams. Cryptocurrencies are not permitted at this stage.
Investors will be able to earn rental income and capital gains through a regulated platform called Prypco Mint, with the DLD and VARA providing oversight to ensure transparency and security.
“This is a major step toward making real estate investment accessible to a wider population,” said DLD officials in a statement, noting that investor funds are protected under the Central Bank’s Client Money Account (CMA) system and not transferred until purchases are finalised.
Currently limited to ready-to-own properties, the project is expected to expand in future phases with global access and additional licensed platforms.
Authorities estimate tokenised assets could account for up to 7 percent of Dubai’s real estate market by 2033, representing AED 60 billion (USD 16 billion) in value.
The initiative is part of the DLD’s broader Real Estate Sector Strategy 2033 and the Dubai Economic Agenda D33, which aim to position the emirate as a global leader in digital real estate and PropTech.
Zand Digital Bank is the official banking partner for the pilot phase, and only firms licensed by VARA are authorised to participate in the tokenisation process. The project also forms part of the Real Estate Evolution Space Initiative (REES), a platform to attract AI and PropTech innovation.