Published by:
Nafoor Al Jundi
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Yes. Real estate tokenization in Dubai operates within a regulated framework led by the Dubai Land Department (DLD), alongside the Virtual Assets Regulatory Authority (VARA), the Central Bank of the UAE and Dubai Future Foundation.
PRYPCO Mint became the first platform launched under the DLD Real Estate Tokenization Project on 25 May 2025, with PRYPCO FZE licensed by VARA to provide virtual asset broker-dealer services in the context of DLD-authorised real estate Tokenization.
For investors, this means tokenization is not simply about turning a property into a digital asset. It connects blockchain technology with Dubai's established property registration system and virtual asset regulatory framework.
If you're new to the concept, our guide to real estate tokenization explains the fundamentals first.
Who regulates real estate tokenization in Dubai?
The Dubai Land Department (DLD) leads Dubai's Real Estate tokenization Project and is responsible for the property registration side of the initiative. DLD launched the pilot in March 2025 as part of its Real Estate Evolution Space Initiative, known as REES.
Several other authorities are involved.
Virtual Assets Regulatory Authority (VARA) regulates virtual asset activities in Dubai, outside the Dubai International Financial Centre. PRYPCO FZE holds an active VARA VASP licence for Broker-Dealer Services, with permission covering DLD-authorised real estate tokenization.
The Central Bank of the UAE is one of the authorities collaborating on the project and brings the UAE's wider financial regulatory framework into the initiative.
Dubai Future Foundation (DFF) is also involved through the Real Estate Sandbox, supporting the development and testing of the new model within Dubai's wider innovation ecosystem.
Together, these organisations bring property registration, virtual asset regulation, financial oversight and innovation infrastructure into the same initiative.
What is the Dubai Land Department Real Estate Tokenization Project?
The Dubai Land Department Real Estate Tokenization Project is an initiative designed to bring blockchain-based fractional property ownership into Dubai's regulated real estate market.
DLD launched the project's pilot phase on 19 March 2025 under REES. On 25 May 2025, the first tokenized real estate investment project was launched through PRYPCO Mint.
The idea is relatively simple: instead of one investor having to purchase an entire property, ownership can be divided into digital tokens. Investors can then purchase a share based on their budget and investment strategy.
DLD expects the Tokenization market to reach approximately AED 60 billion by 2033, representing around 7% of Dubai's total real estate transactions.
The initiative is designed to lower barriers to property investment, broaden the investor base and increase transparency, while supporting the objectives of the Dubai Real Estate Sector Strategy 2033 and Dubai Economic Agenda D33.
How is a tokenized property registered with the Dubai Land Department?
This is one of the most important differences between regulated property Tokenization and simply creating a digital token that references an asset.
On PRYPCO Mint, the underlying property is registered through the Dubai Land Department. Ownership is then divided into tokens, with each token representing a share of that real property.
When an investor purchases tokens, their ownership is recorded on the blockchain and linked to a DLD-issued Property Token Ownership Certificate.
The certificate provides an official record of the investor's share in the property. Investors can also view their ownership through the Dubai REST app.
In other words, the token does not exist separately from the underlying property registration. The digital ownership structure is connected to DLD's property registration framework.
You can learn more about how to download your token ownership certificate, as well as the differences between tokenised title deeds vs SPVs.
For a closer look at the technology behind the process, read how blockchain ensures trust on PRYPCO Mint.
Why was PRYPCO Mint the first licensed platform?
PRYPCO Mint's launch was part of the first implementation of Dubai's new Real Estate Tokenization framework.
Here's how it happened:
19 March 2025: The Dubai Land Department announced the pilot phase of its Real Estate Tokenization Project under REES, becoming the first real estate registration entity in the Middle East to implement Tokenization on property title deeds.
24 May 2025: VARA issued PRYPCO FZE its VASP licence, authorising Broker-Dealer Services in the context of real estate Tokenization authorised by DLD.
25 May 2025: DLD launched MENA's first tokenized real estate investment project through PRYPCO Mint, activating the platform for investors.
Within one day of launch: The first tokenized property was fully funded, attracting 224 investors from 44 nationalities. According to DLD, 70% were entering Dubai's real estate market for the first time.
29 May 2025: DLD announced the world's first Property Token Ownership Certificate following the successful sale of the first property on PRYPCO Mint.
11 June 2025: The second tokenized property on PRYPCO Mint was fully funded in one minute and 58 seconds, attracting 149 investors from 35 nationalities.
PRYPCO Mint continues to be featured by DLD as the platform for the initiative on its official Real Estate Tokenization page.
This distinction matters. PRYPCO Mint was not simply a platform that independently decided to offer tokenized Dubai property. It was the first platform launched under the Dubai Land Department's Real Estate Tokenization Project, in strategic partnership with DLD and under a VARA licence.
What does regulation mean for you as an investor?
For someone considering tokenized Dubai property for the first time, regulation provides three important layers of clarity.
1. Your ownership is recorded through a government body
Your token ownership is connected to the Dubai Land Department's property registration framework, with investors receiving a DLD-issued Property Token Ownership Certificate.
2. The platform operates under a regulatory licence
PRYPCO FZE is licensed by VARA to provide Broker-Dealer Services in the context of DLD-authorised real estate Tokenization.
3. Your tokens are linked to a real property
Tokens represent shares in an underlying Dubai property rather than simply being standalone digital assets. You can read more about property tokens vs traditional deeds.
However, regulation does not remove investment risk or guarantee returns. Property values and rental income can rise or fall, and investors should always review the individual property's information and risk factors before investing.
Frequently asked questions
Is real estate tokenization legal in Dubai?
Yes. Real estate Tokenization operates in Dubai through the Dubai Land Department's Real Estate Tokenization Project, launched in 2025, alongside the relevant virtual asset regulatory framework.
The project's pilot phase began in March 2025, and the first tokenized property investment project launched through PRYPCO Mint on 25 May 2025.
Who regulates real estate Tokenization in Dubai?
The Dubai Land Department leads the Real Estate Tokenization Project. It works in collaboration with the Virtual Assets Regulatory Authority (VARA), Central Bank of the UAE and Dubai Future Foundation.
DLD oversees the real estate registration aspect, while VARA regulates the relevant virtual asset activities in Dubai.
Is PRYPCO Mint licensed by the Dubai Land Department?
PRYPCO Mint was the first platform launched under the Dubai Land Department's Real Estate Tokenization Project on 25 May 2025.
More precisely, PRYPCO Mint was launched in strategic partnership with DLD, while PRYPCO Mint is licensed by VARA to provide Broker-Dealer Services in the context of real estate Tokenization authorised by DLD.
PRYPCO Mint is also featured on the Dubai Land Department's official Real Estate Tokenization page.
Do I get a title deed when I buy a token on PRYPCO Mint?
You receive a Property Token Ownership Certificate issued by the Dubai Land Department, which records your ownership of tokens representing your share in the underlying property.
Your ownership can also be viewed through the Dubai REST app.
For a deeper comparison, read property tokens vs traditional deeds.
What is the minimum investment on PRYPCO Mint?
The minimum depends on where you invest.
Investments in the First Market start from AED 2,000, where investors purchase tokens when a property is initially offered on PRYPCO Mint.
On the Secondary Market, investments start from AED 1,000, allowing investors to buy available property tokens from existing holders.
Minimums and token prices can vary by opportunity, so investors should always check the individual property listing before investing.
Does regulation guarantee my investment returns?
No. Regulation establishes the framework for how the platform operates and how ownership is recorded; it does not guarantee investment performance.
Property values and rental income can increase or decrease depending on market conditions and the performance of the individual property.
Who can invest in tokenized property in Dubai?
Eligibility depends on the platform's current requirements and applicable regulations. You can find the latest eligibility information in our guide to who can invest in tokenized property in Dubai.
A regulated new way to access Dubai real estate
Real estate Tokenization changes the way people can access property ownership, but in Dubai, that innovation is being built within an established regulatory and property registration framework.
The Dubai Land Department leads the Real Estate Tokenization Project, supported by VARA, the Central Bank of the UAE and Dubai Future Foundation. And on 25 May 2025, PRYPCO Mint became the first platform launched under that project, bringing tokenized Dubai property investment to the market.
For investors, the proposition is straightforward: access shares in real Dubai properties digitally, with token ownership linked to the DLD registration framework.
