The one bedroom apartment in Kensington Waters in Dubai UAE which was listed as a tokenized investment property by Dubai Land Department (DLD) and PRYPCO Mint platform sold out in just 1 minute and 58 seconds.
The property at Kensington Waters is worth $653,000 the same value as the first tokenized property sold.
In total PRYPCO Mint and DLD have sold so far $1.306 billion worth of tokenized property in Dubai and the future will see more.
This was the second tokenized real estate project sold by PRYPCO in the past weeks. The second property unlike the first attracted 149 investors from 35 nationalities, while the first one offered attracted 224 investors from over 40 nationalities, with an average investment of $2,900.
The second property was valued at Dh1.5 million, offered at a discount from its estimated market price of Dh1.875 million. Fractional shares were made available starting at Dh2,000, enabling smaller investors to participate in real estate ownership.
While the second listing sold out in 1 minute and 58 seconds, the first tokenized listing was sold out in 24 hours.
PRYPCO Mint, the blockchain platform for tokenizing real estate assets is using Ctrl Alt blockchain platform which is powered by XRP and Zand Bank for payments. The DLD and Ctrl Alt worked closely together on the development of a secure and compliant tokenization framework, focusing on structuring, minting and placing real estate title deed tokens on-chain.
#DLD has launched its second tokenized property in a strategic partnership, at a prime location developed by Ellington Properties. Invest from AED 2,000 and own a digital tokenization certificate.
Keep pace with #Dubai’s digital real estate evolution and invest today. pic.twitter.com/Bm5vqicvAz— دائرة الأراضي والأملاك في دبي (@Land_Department) June 11, 2025
As per the Dubai Land Department, the waiting list for the second property was more than 10,000 while in the first it was 6,000 as trust rises in tokenized property assets as viable regulated investment class.
Investors are encouraged to register early on the PRYPCO Mint platform to participate in upcoming projects, many of which are expected to see similarly high demand.
The initiative is projected to contribute to the growth of an AED 60 billion ($16 billion) tokenized real estate market by 2033, equivalent to 7% of Dubai’s total property transactions.
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