The Dubai Land Department announced that its second tokenized real estate project on the PRYPCO Mint platform was fully funded in just one minute and 58 seconds. The offering attracted 149 investors from 35 nationalities.

The overwhelming demand led to a waiting list of more than 10,700 potential investors, highlighting strong interest in digital property investment opportunities in Dubai.

The initiative is part of the Dubai Land Department’s Property Tokenization Initiative, with PRYPCO Mint officially accredited under the program. The platform allows investors to purchase fractional ownership in completed properties through a digital process designed to be accessible and cost-efficient.

Launched on May 25 in partnership with the Central Bank of the UAE and the Dubai Future Foundation, it is among the first government-backed tokenized real estate initiatives in the MENA region. Officials say the effort aims to open Dubai’s property market to a broader investor base and reshape traditional ownership models.

The project rollout coincided with a surge in Dubai’s real estate sector. According to data from Property Finder, the emirate recorded 18,700 property transactions worth $18.2 billion in May, marking a 44% year-on-year increase in value and a 6% rise in sales volume.

Notably, primary market sales surged by 314% in value compared to May 2024, while secondary sales saw a 21% increase.

As the platform continues to expand its offerings and partnerships, tokenized real estate is expected to play an increasingly significant role in Dubai’s property market, with long-term goals set through 2033. The Dubai Land Department has invited interested investors to register in advance for upcoming opportunities.