Listed as an investment property tokenized by the Dubai Land Bureau (DLD) and Prypco Mint platform, the one-bedroom apartment in Kensington Waters, Dubai UAE, sold out in just 1 minute and 58 seconds.
The Kensington Waters property is worth $653,000, the same value as the first tokenized property sold.
Total Prypco Mint and DLD have so far sold $1300.6 billion worth of tokenized properties in Dubai, and we will see more in the future.
This was the second tokenized real estate project Prypco sold in the past few weeks. The second property, unlike the first, attracted 149 investors from 35 nationalities, while the first attracted 224 investors from over 40 nationalities, with an average investment of $2,900.
The second property was valued at Dh1.5 million and was discounted from its estimated market price of $11.875 million. Fractional stocks started at DH2,000, allowing fewer investors to participate in property ownership.
The second list sold out in 1 minute and 58 seconds, while the first tokenized list sold out in 24 hours.
Prypco Mint, a blockchain platform for tokenizing real estate assets, uses the Ctrl Alt blockchain platform with XRP and Zand Bank for payments. DLD and Ctrl Alt worked closely with the development of a secure, compliant tokenization framework focusing on structuring, casting, and on-chain placement of real estate title deeds tokens.
#DLD launched its second tokenized property in a strategic partnership, at a major location developed by Ellington Properties. I invested from AED 2,000 and owned a digital tokenization certificate.
#Respond to the evolution of Dubai’s digital real estate and invest today. pic.twitter.com/bm5vqicvazJune 11, 2025, Dubailand and Property Division (@land_department)
According to the Lands Division of Dubai, the wait list for the second property exceeded 10,000, but the first was 6,000 due to increased confidence in real estate assets tokenized as a viable regulatory investment class.
Investors are encouraged to register early on with the Prypco Mint platform and take part in future projects. Many of them are expected to be in equally high demand.
The initiative is projected to contribute to the growth of the AED 60 billion ($16 billion) tokenized real estate market by 2033, representing 7% of Dubai’s total real estate transactions.