A villa in Rukan Community, Dubailand was fully funded in less than five minutes through PRYPCO Mint, a tokenised real estate investment platform regulated by Dubai’s Virtual Assets Regulatory Authority (VARA).
The property, valued at Dhs 1.75 million, attracted 169 investors from 40 different nationalities. Each investor contributed an average of Dhs 10,355.
This marks PRYPCO Mint’s third successful tokenised property, following earlier launches that were funded in under 24 hours and, later, in under two minutes.
Growing demand for fractional ownership
PRYPCO Mint, developed in partnership with the Dubai Land Department (DLD), allows users to co-own income-generating real estate assets through blockchain technology.
The latest funding success reflects increasing demand for accessible, fractional ownership in the UAE’s property market.
According to current projections, tokenised assets could make up 7% of Dubai’s real estate sector by 2033, with an estimated market value of Dhs 60 billion.
Two more tokenised properties will be made available on Tuesday, July 15. Investors can participate with a minimum of Dhs 2,000.
Currently open to Emirates ID holders, PRYPCO Mint has announced plans to expand its platform globally.
tanvir@dubainewsweek.com
