In a swift and unexpected move, the Dubai Land Department (DLD) and the region’s first tokenized real estate investment platform, PRYPCO Mint, issued the first tokenized real estate ownership certificate, making the first sale of a tokenized property.

This move happened following the DLD and investment platform recently launched MENA’s first real estate tokenization investment project.

MENA’s first tokenized real estate deed attracts 224 investors

Dubai has been spearheading blockchain and Web3 adoption across several sectors of the country. The latest tokenized real estate deed proves how fast Dubai has revealed its strength in the Web3 realm.

Property token ownership certificate shared by the Senior Director at DLD

A tokenized real estate deed is a digitized legal document or digital version of a physical document stored on a blockchain in the form of a token. This is the first fully-funded project launched under the tokenization initiative, which attracted 224 investors from 40 nationalities, with an average investment amount of AED 10,714.   The staggering number of investor interest is reportedly due to the strong confidence in the market, besides flexible and low-cost digital solutions.  

In the wake of the debut project launch, Amira Sajwani, Founder and CEO of PRYPCO, commented that PRYPCO Mint was built to “redefine access to real estate” with transparency, inclusivity, and efficiency.      

“To see our first property fully funded in just a day reflects not only the strength of the concept but also a clear market demand for smarter, more accessible investment solutions. It’s a strong step forward in enabling Real Estate Freedom for all,” added the CEO.

The real estate tokenization project was made live after a strategic partnership with DLD and PRYPCO, alongside the regulatory approval from the Virtual Assets Regulatory Authority (VARA). The historic move was also made with the support of Zand Bank, XRP Ledger, and Ctrl Alt. XRP Ledger provides the blockchain network for the project, whereas Ctrl Alt backs it with Web3 infrastructure.