The project, offered via Prypco Mint and backed by the Dubai Land Department (DLD), allowed everyday investors to buy into a prime property using blockchain-based tokens.
The result? 224 investors from over 40 countries jumped in, 70% of whom were entering the Dubai property market for the first time.
“This surge in demand reflects Dubai’s growing appeal to new segments of global investors seeking innovative and accessible property ownership models,” the DLD said.
Tokenisation breaks a property into digital shares recorded on the blockchain, allowing investors to benefit from rental income and capital growth without full ownership or the usual admin.
Each token is linked to a legally recognised Property Token Ownership Certificate issued by the government.
While still in pilot phase — and limited to UAE Dirham transactions, not cryptocurrency — the model is tightly regulated.
The Central Bank of the UAE oversees all related funds, and both the DLD and the Virtual Assets Regulatory Authority are involved in governance.
For Australian agents, it raises interesting questions. Could we see similar models here? Would fractional token-based ownership attract a new generation of investors priced out of traditional property? And what would the regulatory hurdles look like?
The DLD believes tokenised assets could make up 7% of Dubai’s real estate market by 2033 — a figure driven by both investor appetite and structural supply pressures.
As tokenisation and blockchain-based ownership models gain ground overseas, real estate professionals in Australia may want to keep a close eye on what’s happening in Dubai — because change often comes quicker than expected.
