Dubai, UAE - The Dubai Land Department has officially launched the world’s first Property Token Ownership Certificate, following the successful sale of the first tokenized real estate project on the ‘Prypco Mint’ platform, licensed by the Virtual Assets Regulatory Authority (VARA). This groundbreaking achievement occurred within just one day of the platform's launch, further solidifying Dubai’s position as a global leader in real estate innovation and digital transformation.Investor Participation and ConfidenceThe inaugural project under the Real Estate Tokenization Initiative attracted 224 investors, with 70% of them entering Dubai’s real estate market for the first time. This influx of new investors underscores strong confidence in the market and highlights the accessibility provided by flexible, low-cost digital solutions. The investors represented 44 nationalities, with the average individual investment amounting to AED 10,714.Growing Demand for Tokenized Real Estate As the region's first platform of its kind, the initiative has generated significant interest, with a waitlist exceeding 6,000 requests. This surge in demand reflects Dubai’s increasing appeal to new segments of global investors who are seeking innovative and accessible property ownership models.Collaborative Development The Real Estate Tokenization project was developed in collaboration with VARA, the Central Bank of the United Arab Emirates, and the Dubai Future Foundation (DFF) through the Real Estate Sandbox. The project is being executed through Prypco Mint, which aims to broaden the real estate investor base while enhancing transparency and accelerating transaction processes. Alignment with Strategic Goals This initiative aligns with the Dubai Real Estate Strategy 2033 and the Dubai Economic Agenda D33, which aim to position Dubai as a global hub for innovative real estate investment. The Dubai Land Department is currently working to enable real estate developers to list their projects on the platform, further expanding the initiative’s scope and unlocking new opportunities for digital property investment. Conclusion The launch of the Property Token Ownership Certificate marks a significant milestone in Dubai’s real estate landscape, paving the way for a new era of property investment that combines innovation with accessibility. As Dubai continues to lead in digital transformation, the Real Estate Tokenization Initiative is set to redefine property ownership for investors around the world.