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Dubai has launched its first real estate tokenization project, allowing investors to purchase tokenized shares of completed properties. Spearheaded by the Dubai Land Department (DLD) and the Central Bank of the UAE, the initiative aims to democratize real estate investment.
The “Prypco Mint” platform, backed by the DLD, facilitates this fractional ownership, enabling individuals to invest in properties and receive returns. Zand Digital Bank is involved in the project, though its specific role wasn’t fully detailed in the excerpt. This move signals Dubai’s commitment to embracing innovative technologies in the real estate sector and opening up investment opportunities to a wider audience.
