Less than a month after the successful launch of its first tokenized property, PRYPCO Mint—a collaborative effort between the Dubai Land Department (DLD) and PRYPCO, licensed by the Virtual Assets Regulatory Authority (VARA)—is announcing its second tokenized property listing. This innovative step is setting new standards in real estate investment in Dubai.
The upcoming property is located at Kensington Waters and boasts a total value of $653,000. The listing will go live tomorrow, June 11, 2025, paving the way for fractional property ownership through pioneering blockchain technology.
The New Tokenized Property: Features and Valuation
The new offering is a one-bedroom apartment in Kensington Waters, nestled in the heart of Mohammed Bin Rashid City. With a valuation of AED 1.5 million, it is positioned at a discounted rate, especially when compared to its estimated market value of AED 1.875 million.
For investors looking to dive into this opportunity, PRYPCO has set a minimum investment threshold of 2,000 AED, equivalent to approximately $544. This accessible entry point reflects PRYPCO’s commitment to democratizing property ownership.
According to Hussain Sajwani, founder and CEO of PRYPCO, “With our second property, we’re continuing to break down traditional barriers and offer high-quality opportunities to a broader, more diverse audience. At PRYPCO, our mission is to democratize property ownership, and this is just the beginning.” This visionary approach indicates a forward-thinking strategy aimed at making real estate investments more attainable.
A Look Back: The Success of PRYPCO Mint’s First Project
PRYPCO Mint’s inaugural project launched on May 25, 2025, and achieved an impressive sell-out in less than 24 hours. The two-bedroom apartment in Business Bay attracted 224 investors from over 40 different nationalities, with an average investment of AED 10,714 (approximately $2,900).
The property was listed at AED 2.4 million ($653,000), significantly lower than its DLD valuation of AED 2.89 million ($786,000), making it an attractive proposition for investors. Each investor was issued Property Token Ownership Certificates, securely logged on the blockchain, ensuring transparency and security.
The Technology Behind the Tokenization
Backed by state-of-the-art blockchain infrastructure from Ctrl Alt, the secure ownership tokens are issued on the XRP Ledger, enhancing both efficiency and security in real estate transactions. Furthermore, Zand Bank serves as the official banking partner, streamlining the financial aspects of these investments.
This innovative Real Estate Tokenization project operates under a framework crafted by the Dubai Land Department in partnership with VARA, the Central Bank of the UAE, and the Dubai Future Foundation (DFF) through their Real Estate Sandbox initiative. This collaborative approach underlines Dubai’s ambition to become a leader in blockchain technology and real estate innovation.
Expanding Horizons: Future Investment Opportunities
Currently, the platform is available exclusively to UAE residents holding valid Emirates IDs, but there are plans to expand the initiative to international investors in the next phase. This expansion is expected to further fortify Dubai’s position as a global hub for real estate and technological advancements.
The potential for international participation signifies a transformative shift in how real estate investment is perceived, paving the way for a more inclusive and diversified investment landscape.
Stay tuned for more exciting developments: Cryptopolitan Academy is coming soon, providing a new way to earn passive income with DeFi in 2025. Learn More
