Less than a month after the first tokenized property was sold out, PRYPCO Mint, the joint initiative between the Dubai Land Department (DLD) and PRYPCO licensed by the Virtual Assets Regulatory Authority (VARA), is now offering its second tokenized property listing.
The property at Kensington Waters is worth $653,000, and will go live tomorrow on June 11, 2025. The tokenized property to be listed will allow fractional property ownership on the blockchain technology.
The new tokenized property is a one-bedroom apartment
The new property listing features a one-bedroom apartment in Kensington Waters, Mohammed Bin Rashid City, with a total valuation of AED 1.5 million, offered at a discounted rate compared to its estimated market value of AED 1.875 million.
PRYPCO is offering investors the chance to own parts of the property starting at 2,000 AED, which is equivalent to $544.
According to Sajwani, the 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.”
The executive also noted that the response to its first tokenized property proved that investors are ready for a smarter, more accessible way to invest in real estate.
PRYPCO Mint’s first project received $653,000 in investments
Launched on 25 May 2025, PRYPCO Mint listed its first property and sold out in less than 24 hours. The two-bedroom apartment in Business Bay attracted 224 investors from over 40 nationalities, with an average investment of AED 10,714 or $2,900.
The property listed at AED 2.4 million ($653,000), below its DLD valuation of AED 2.89 million ($786,000).
Investors in the property received Property Token Ownership Certificates, which are logged on the blockchain.
Ctrl Alt is backing the project’s blockchain infrastructure, issuing secure ownership tokens on the XRP Ledger, while Zand Bank serves as the official banking partner.
The Real Estate Tokenization project operates under a framework developed by the Dubai Land Department in partnership with the Virtual Assets Regulatory Authority (VARA), the Central Bank of the UAE, the Dubai Future Foundation (DFF) via the Real Estate Sandbox.
Currently available to UAE residents holding valid Emirates IDs, the platform is expected to open to international investors in its next phase, further expanding Dubai’s real estate footprint as a global innovation hub.
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