Dubai unveils the world’s first property token ownership certificate after a successful tokenized real estate sale involving 224 investors.
Dubai has introduced what it calls the world’s first property token ownership certificate, marking a major milestone in the city’s Real Estate Tokenization Initiative. The launch follows a successful one-day sale of a tokenized real estate project via the Prypco Mint platform.
The Real Estate Tokenization project is a collaboration between the Dubai Land Department (DLD), the Virtual Assets Regulatory Authority (VARA), the UAE Central Bank, and the Dubai Future Foundation (DFF). It is being executed through the Real Estate Sandbox and facilitated by the VARA-licensed Prypco Mint platform.
Dubai’s tokenized real estate market is estimated to reach $16.3 billion (AED 60 billion) by 2033, making up 7% of all property transactions in the emirate, according to official forecasts.
The initiative aligns with the Dubai Real Estate Strategy 2033 and the broader Dubai Economic Agenda D33. These frameworks aim to:
This initiative seeks to democratize investment, improve transparency, and streamline property transactions in Dubai’s real estate market through emerging technologies and regulatory innovation.
Despite the strong start, analysts such as Fitch Ratings warn of a potential 15% price decline in the second half of 2025 and into 2026 due to a surge in housing supply, with 210,000 new units expected—twice the number delivered over the previous three years.
Dubai’s launch of the property token certificate marks a new chapter in integrating advanced financial technologies into real estate. As the initiative expands, it could reshape investor access and regulatory frameworks in one of the world’s most dynamic property markets.
