Dubai's real estate attracts investors thanks to new technologies. Tokenization and fractional ownership principles open up opportunities for a wide range of buyers.
Tokenization as Dubai's Strategy
The Dubai Land Department selected Prypco as its strategic partner to implement its real estate tokenization strategy. Prypco became the first company in the region to launch the PRYPCO Mint tokenization platform, having secured a license from the Virtual Assets Regulatory Authority (VARA) in Dubai.
Fractional Ownership: A Step Towards Accessibility
Through a fractional ownership model, investors will be able to participate in Dubai's real estate market with minimal investments starting from 2,000 AED (approximately $500). Although the fractional ownership system will initially be available only to UAE citizens, it opens new prospects for widespread investor participation, promising significant changes in the real estate sector.
Blockchain and a New Perspective on the Real Estate Market
The PRYPCO Mint platform is based on the XRP blockchain, offering safer, more transparent, and cost-effective transactions. This will enhance the process of property ownership and transfer. The investment approach will be conducted in UAE Dirhams, ensuring regulatory clarity in deal-making.
Real estate tokenization in Dubai marks a significant step towards a more accessible and innovative market. This initiative is expected to influence not only the UAE market but also global trends in real estate.
