According to Amira Sajwani, founder and CEO of Prypco, developers in Dubai can now list their properties for tokenization on Prypco Mint, the first real estate tokenization platform in the MENA area that was introduced in partnership with the Dubai Land Department (DLD) and other regulatory agencies.
Within a day, the platform's first advertised property, a two-bedroom apartment in Business Bay's Damac Prive Tower, received full funding. With an average investment of Dh10,714, it attracted 224 investors of more than 40 different nationalities. With investments as low as Dh2,000, Prypco Mint uses blockchain-based tokens to provide fractional ownership of prime real estate in Dubai.
Along with the official sale of the first tokenized real estate asset on Prypco Mint, the Dubai Land Department also issued the first Property Token Ownership Certificate in history on Thursday. With more than 6,000 persons on the waitlist, interest in the platform is still high.
