Investors can pay as little as Dh2,000 for a slice of Dubai's tokenised real estate project after the Dubai Land Department (DLD) officially launched the pilot phase on Sunday.
The sum will buy investors tokenised shares in ready-to-own properties in Dubai, with only UAE dirhams accepted for all transactions, the DLD said. Cryptocurrencies will not be accepted during the pilot phase.
Currently, only Emirates ID holders will be able to invest in the project before it opens up to international investors.
“The platform is set to expand globally in the near future, with additional platforms to be integrated in later phases,” the Dubai government body said.
The initiative is being implemented by Prypco Mint platform, in collaboration with Dubai's Virtual Assets Regulatory Authority (Vara), the UAE Central Bank and the Dubai Future Foundation (DFF) through the Real Estate Sandbox.
Zand Digital Bank has been appointed as the banking partner for the project’s pilot phase.
A partnership agreement between DLD, Prypco and Ctrl Alt Solutions will focus on attracting specialised asset tokenisation companies, while safeguarding investor rights.
While the pilot phase of the project includes only two authorised companies, Prypco and Ctrl Alt, there are plans to open the market to other qualified firms in the future, DLD said.
The project, announced in March, focuses on converting real estate assets into digital tokens recorded on blockchain, helping to streamline the process of buying, selling and investing.
Real estate tokenisation enables fractional property ownership, where each asset is divided into shares based on investors' budget and financial strategy. This allows investors to acquire a portion of a property without fully purchasing it.
Dubai’s real estate tokenisation market is forecast to reach Dh60 billion ($16.33 billion) by 2033, representing 7 per cent of the emirate’s total property transactions, according to government data.
Return on investments
Through the digital platform mint.prypco.com, investors can find information about property details ranging from pricing, risk factors, and technical specifications to the minimum investment required.
The real estate tokenisation project is jointly managed by the DLD, as the regulator of physical real estate assets, and Vara as the regulatory body for digital assets to ensure a transparent regulatory framework, the DLD said.
During the current phase, the CBUAE will oversee the opening of corporate accounts linked to real estate tokenisation through the Client Money Account (CMA), as part of a system designed to safeguard investor funds.
Under this system, an investor’s money is deposited into the CMA and not transferred to the tokenisation company until the purchase process is fully completed, to ensure security and transparency.
The project’s initial phase is limited to ready-to-own properties, and tokenisation is allowed only through companies licensed by the Vara, while DLD is responsible for reviewing and validating the fairness of property pricing before any listing is approved.
“Investors will benefit from both rental income and capital appreciation resulting from the property’s appreciation, while holding a legally documented ownership share issued by Dubai Land Department – ensuring a transparent and secure investment experience without the complexities of traditional property management,” the DLD said.
The latest announcement comes as Dubai’s property market continues to perform strongly amid government initiatives such as residency permits for retired and remote workers, the expansion of the 10-year golden visa programme and strong economic growth and diversification efforts.
The emirate recorded real estate deals worth Dh761 billion last year, up 20 per cent compared to 2023, with the total number of transactions for the year increasing by 36 per cent to 226,000, according to data provided by the Dubai Media Office.
It also achieved a record in the sale of homes valued at more than $10 million last year, real estate consultancy Knight Frank said in a report last month.
The emirate recorded 435 home sales valued at more than $10 million, up from 434 home sales in 2023 in the same category, with the total value of deals reaching $7 billion.
The years Ramadan fell in May
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Living in...
This article is part of a guide on where to live in the UAE. Our reporters will profile some of the country’s most desirable districts, provide an estimate of rental prices and introduce you to some of the residents who call each area home.
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Real estate tokenisation project
Dubai launched the pilot phase of its real estate tokenisation project last month.
The initiative focuses on converting real estate assets into digital tokens recorded on blockchain technology and helps in streamlining the process of buying, selling and investing, the Dubai Land Department said.
Dubai’s real estate tokenisation market is projected to reach Dh60 billion ($16.33 billion) by 2033, representing 7 per cent of the emirate’s total property transactions, according to the DLD.
Ten tax points to be aware of in 2026
1. Domestic VAT refund amendments: request your refund within five years
If a business does not apply for the refund on time, they lose their credit.
2. E-invoicing in the UAE
Businesses should continue preparing for the implementation of e-invoicing in the UAE, with 2026 a preparation and transition period ahead of phased mandatory adoption.
3. More tax audits
Tax authorities are increasingly using data already available across multiple filings to identify audit risks.
4. More beneficial VAT and excise tax penalty regime
Tax disputes are expected to become more frequent and more structured, with clearer administrative objection and appeal processes. The UAE has adopted a new penalty regime for VAT and excise disputes, which now mirrors the penalty regime for corporate tax.
5. Greater emphasis on statutory audit
There is a greater need for the accuracy of financial statements. The International Financial Reporting Standards standards need to be strictly adhered to and, as a result, the quality of the audits will need to increase.
6. Further transfer pricing enforcement
Transfer pricing enforcement, which refers to the practice of establishing prices for internal transactions between related entities, is expected to broaden in scope. The UAE will shortly open the possibility to negotiate advance pricing agreements, or essentially rulings for transfer pricing purposes.
7. Limited time periods for audits
Recent amendments also introduce a default five-year limitation period for tax audits and assessments, subject to specific statutory exceptions. While the standard audit and assessment period is five years, this may be extended to up to 15 years in cases involving fraud or tax evasion.
8. Pillar 2 implementation
Many multinational groups will begin to feel the practical effect of the Domestic Minimum Top-Up Tax (DMTT), the UAE's implementation of the OECD’s global minimum tax under Pillar 2. While the rules apply for financial years starting on or after January 1, 2025, it is 2026 that marks the transition to an operational phase.
9. Reduced compliance obligations for imported goods and services
Businesses that apply the reverse-charge mechanism for VAT purposes in the UAE may benefit from reduced compliance obligations.
10. Substance and CbC reporting focus
Tax authorities are expected to continue strengthening the enforcement of economic substance and Country-by-Country (CbC) reporting frameworks. In the UAE, these regimes are increasingly being used as risk-assessment tools, providing tax authorities with a comprehensive view of multinational groups’ global footprints and enabling them to assess whether profits are aligned with real economic activity.
Contributed by Thomas Vanhee and Hend Rashwan, Aurifer
Who was Alfred Nobel?
The Nobel Prize was created by wealthy Swedish chemist and entrepreneur Alfred Nobel.
- In his will he dictated that the bulk of his estate should be used to fund "prizes to those who, during the preceding year, have conferred the greatest benefit to humankind".
- Nobel is best known as the inventor of dynamite, but also wrote poetry and drama and could speak Russian, French, English and German by the age of 17. The five original prize categories reflect the interests closest to his heart.
- Nobel died in 1896 but it took until 1901, following a legal battle over his will, before the first prizes were awarded.
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Coffee: black death or elixir of life?
It is among the greatest health debates of our time; splashed across newspapers with contradicting headlines - is coffee good for you or not?
Depending on what you read, it is either a cancer-causing, sleep-depriving, stomach ulcer-inducing black death or the secret to long life, cutting the chance of stroke, diabetes and cancer.
The latest research - a study of 8,412 people across the UK who each underwent an MRI heart scan - is intended to put to bed (caffeine allowing) conflicting reports of the pros and cons of consumption.
The study, funded by the British Heart Foundation, contradicted previous findings that it stiffens arteries, putting pressure on the heart and increasing the likelihood of a heart attack or stroke, leading to warnings to cut down.
Numerous studies have recognised the benefits of coffee in cutting oral and esophageal cancer, the risk of a stroke and cirrhosis of the liver.
The benefits are often linked to biologically active compounds including caffeine, flavonoids, lignans, and other polyphenols, which benefit the body. These and othetr coffee compounds regulate genes involved in DNA repair, have anti-inflammatory properties and are associated with lower risk of insulin resistance, which is linked to type-2 diabetes.
But as doctors warn, too much of anything is inadvisable. The British Heart Foundation found the heaviest coffee drinkers in the study were most likely to be men who smoked and drank alcohol regularly.
Excessive amounts of coffee also unsettle the stomach causing or contributing to stomach ulcers. It also stains the teeth over time, hampers absorption of minerals and vitamins like zinc and iron.
It also raises blood pressure, which is largely problematic for people with existing conditions.
So the heaviest drinkers of the black stuff - some in the study had up to 25 cups per day - may want to rein it in.
Rory Reynolds
Sholto Byrnes on Myanmar politics
