Dubai Completes First Tokenized Real Estate DAMAC Property Round in 24 Hours

Dubai has marked a historic milestone with the completion of its first tokenized real estate transaction, involving DAMAC properties, within just 24 hours. The initiative, facilitated by Prypco Mint—the first licensed real estate tokenization platform in partnership with the Dubai Land Department—showcases the emirate’s leadership in blockchain-driven property investments.

The project attracted 224 investors from over 40 nationalities, with an average investment of AED 10,714, highlighting global interest in accessible, tech-enabled real estate opportunities. Dr. Mahmoud Al Buraj of the Dubai Land Department emphasized the groundbreaking nature of the transaction, noting it as the first-ever issuance of property token ownership certificates.

The deed reveals that 1,093 tokens were purchased, representing 0.8129 shares in DAMAC Maison Prive. This initiative, launched in collaboration with the VIRTUAL Assets Regulatory Authority (VARA), underscores Dubai’s commitment to innovation in the real estate sector.