Amidst the rapid success of its initial tokenized property, which secured funding in less than 24 hours, PRYPCO Mint has unveiled plans to release its second fractional real estate offering, launching on June 11.
This initiative marks a significant milestone in Dubai’s mission to transform global property investment through innovations in blockchain technology.
The upcoming listing showcases a one-bedroom apartment located in Kensington Waters, Mohammed Bin Rashid City, valued at Dhs1.5 million.
Priced below its market valuation of Dhs1.875 million, this opportunity offers investors immediate equity. Fractional ownership begins at Dhs2,000, emphasizing PRYPCO Mint’s dedication to enhancing access to high-quality real estate investments.
“The remarkable feedback from our first tokenized property demonstrated that investors are eager for a more efficient, accessible path to real estate investment,” said Amira Sajwani, founder and CEO of PRYPCO. “With our second offering, we continue to dismantle traditional barriers and present high-caliber opportunities to a wider and more varied audience.”
Collaboration Between Dubai Land Department and PRYPCO Mint
PRYPCO Mint launched on May 25 as a joint initiative with the Dubai Land Department (DLD), under the regulation of the Virtual Assets Regulatory Authority (VARA). The platform gained attention for completing the first entirely tokenized real estate sale in the MENA region.
The initial offering, a two-bedroom apartment in Business Bay assessed at Dhs2.4 million, was fully subscribed in 24 hours by 224 investors from over 40 different nationalities. It was listed at a price lower than the DLD valuation of Dhs2.89 million, with an average investment of Dhs10,714.
In a notable regulatory development, the DLD issued blockchain-based Property Token Ownership Certificates for the initial offering, thereby officially recognizing tokenized property rights within Dubai’s legal framework.
This real estate tokenization initiative operates within a regulated environment created by the DLD, in collaboration with VARA, the Central Bank of the UAE, and the Dubai Future Foundation (DFF).
The blockchain infrastructure is managed by Ctrl Alt on the XRP Ledger, while Zand Bank serves as the official banking partner, offering integrated financial services for the project.
PRYPCO Mint, designed for tech-oriented investors, millennials, and first-time buyers, offers a mobile-first experience that redefines real estate as a flexible and liquid asset category.
The platform is currently open to UAE residents with Emirates IDs and plans to expand to international investors in its next phase.
This second offering is anticipated to further engage investors and bolster Dubai’s status as a pioneer in digital real estate advancements.