Want to Own Property in Dubai? Investors Can Now Buy Dubai Real Estate Shares on Government-Approved XRP Platform – Starting at $540

Dubai Unveils First Government-Backed Tokenized Real Estate Platform

Dubai has launched Prypco Mint, its inaugural government-supported platform enabling fractional ownership of real estate through tokenization.

Spearheaded by the Dubai Land Department (DLD), this initiative aims to digitize a significant portion of the emirate’s property market, targeting $16 billion worth of tokenized real estate by 2033 — roughly 7% of all projected transactions.

How Does Prypco Mint Work and Who Can Invest

Prypco Mint lets investors buy shares in Dubai properties starting at just 2,000 dirhams (approximately $540), making property ownership more accessible by lowering financial barriers.

Initially, the platform supports transactions exclusively in dirhams and is open only to UAE ID holders, though the DLD has indicated plans to open it up globally in the future.

Zand Digital Bank manages the banking services for the pilot, while regulatory oversight comes from the UAE Central Bank, Dubai’s Virtual Assets Regulatory Authority (VARA), and the Dubai Future Foundation’s Real Estate Sandbox.

The tokenization infrastructure was developed by Ctrl Alt, a UK-based company that chose the XRP Ledger for its blockchain backbone.

This system integrates directly with Dubai’s traditional land registry to keep records synchronised.

Matt Ong, Ctrl Alt’s CEO, said:

“We are proud to create the tokenization infrastructure that enables DLD’s partners to offer fractional real estate to investors. Dubai’s leadership in embracing next-generation financial technologies is truly world-class, and this project is a powerful signal of what’s to come.”

Why Tokenization Matters in Real Estate

Tokenization uses blockchain technology to record and transfer ownership of assets like property, allowing for fractionalised investment.

This approach has the potential to open Dubai’s real estate market to a wider pool of investors by lowering entry thresholds.

Globally, the tokenized real estate sector is poised for growth.

Analysts from Ripple, Boston Consulting Group, and McKinsey suggest the market could expand to several trillion dollars in the coming years.

Custom Market Insights forecasts growth from $3.5 billion in 2024 to $19.4 billion by 2033.

By tying digital tokens to official government records, Dubai’s system ensures legal clarity and reduces the risk of ownership disputes that can arise when on-chain and off-chain records don’t align.

This direct link between blockchain tokens and the established land registry is a key step that many tokenization efforts have struggled to achieve.

What Are the Regulatory and Market Implications

Dubai has been proactive in adopting blockchain technology for real estate since 2017, starting with pilot projects for on-chain contract records.

The DLD has closely collaborated with VARA, which now regulates virtual tokens representing real estate assets.

VARA recently updated its rules to allow real-world asset tokens to be traded on secondary markets.

Meanwhile, Dubai’s broader digital finance ambitions are evident in moves such as partnering with Crypto.com to enable crypto payments for government services.

This aligns with the emirate’s Cashless Strategy, which aims for 90% cashless transactions by 2026, building on a 97% digital government payment rate in 2023.

Is Dubai Leading the Region in Tokenization

This project is the first licensed tokenized real estate platform in the Middle East and North Africa region, signalling Dubai’s intent to be a pioneer in regulated digital asset markets.

Other UAE initiatives, including a dirham-pegged stablecoin backed by Abu Dhabi institutions and regulatory sandboxes for digital investment products, complement this effort.

By linking property tokens directly to government land registries, Dubai addresses one of the biggest challenges facing real estate tokenization worldwide — legal recognition and transparency.

The platform is expected to grow rapidly, with over 3,000 investors already showing interest.

As tokenized assets potentially represent up to 7% of Dubai’s real estate market by 2033, Prypco Mint could reshape how property is bought, sold, and owned in one of the world’s most dynamic real estate markets.