Tokenized Luxury Properties in Dubai Sold Quickly

Dubai's Land Department achieved a rapid success by selling two tokenized luxury properties on the PRYPCO Mint platform. The total value of these properties was Dh3.4 million, and they were sold within a mere 12 minutes of being listed.

The first property, a modern one-bedroom apartment in Dubai Marina's Live Residence Tower, was fully funded in just three minutes. The second property, a one-bedroom luxury apartment in the Sobha Greece Vista Grande tower in Mohammed bin Rashid City, raised Dh1.6 million in nine minutes, with contributions from 204 investors.

Since the tokenization initiative's launch on May 25, the Dubai Land Department has offered five properties on the platform. Each property sold out in under two minutes, highlighting strong investor interest in these innovative real estate offerings.

This initiative supports Dubai's goal of integrating blockchain technology into real estate. The aim is to increase market transparency, improve liquidity, and provide micro-investment opportunities, making real estate accessible to a broader audience.