Dubai launches tokenized real estate
May 2025
Reading Time: 3 minutes
UAE became the first country in the Middle East and North Africa (MENA) region to launch licensed tokenized real estate project.
Last month i.e. April 2025, Dubai Land Department (DLD) and Dubai’s crypto regulating authority Virtual Assets Regulatory Authority (VARA) agreed to link Dubai’s real estate registry with the tokenization of property. Then this month, on 19th May 2025, VARA permitted trade of Real-World Assets (RWA) tokens.
This has culminated in the launch of Prypco Mint, a new platform where investors can purchase tokenized shares in “ready-to-own” properties in Dubai for amounts as low as 2000 AED (approx. $545). In the pilot phase, all transactions will be in AED and the platform will only be open to UAE ID holders. But in subsequent phases, the platform will be opened globally and will use other currencies, including cryptocurrencies. The project is being backed by Zand Digital Bank of Dubai during its pilot phase.
Sources:
https://www.altcoinbuzz.io/cryptocurrency-news/dubai-embraces-tokenized-real-estate-in-mena-first/
