Dubai is piloting the Middle East’s first regulated tokenized property program, signaling its intent to lead real-world asset tokenization in the region.
The project enables UAE residents to buy digital shares of local properties, starting at just 2,000 dirhams ($545), through a newly launched platform called Prypco Mint.
The initiative is a joint effort involving the Dubai Land Department, the Central Bank, and the Dubai Future Foundation. While the pilot limits purchases to dirham-only transactions and UAE ID holders, plans for global expansion are already in motion.
Backed by updated rules from Dubai’s crypto regulator VARA—now allowing real estate tokens to be traded on secondary markets—the project reflects Dubai’s broader ambition to enhance liquidity and accessibility in its real estate sector.
This move comes amid a regional surge in crypto activity. The UAE has seen a sharp rise in app downloads, and Dubai recently partnered with Crypto.com to explore digital payments for public services.
Globally, real estate tokenization is gaining momentum. Analysts forecast the sector could grow to $19.4 billion by 2033, with blockchain offering a path to fractional ownership of traditionally illiquid assets. While some startups like RealT have led the charge, others face regulatory roadblocks—something Dubai is actively working to overcome with government support and clear policy frameworks.
