Dubai Land Department's real estate tokenisation programme: what a token records, who may buy in Phase 2, the minimum ticket, and what has not changed.
The Dubai Land Department runs a real estate tokenisation programme in which a property's title is recorded on a ledger and divided into tokens. It began as a pilot and moved to a second phase on 20 February 2026, when a secondary market for the tokens opened on the Prypco Mint platform. The initiative is implemented by the Land Department in partnership with Prypco, in collaboration with the Virtual Assets Regulatory Authority and the Central Bank through the Real Estate Sandbox.
Under the programme, buyers must be UAE residents with a valid Emirates ID, and the minimum ticket is AED 2,000. These figures are stated on the programme's pilot-launch page and were not restated in the Phase II announcement. Both conditions are the platform's and the programme's, and both can change; the source below is the page to check.
The property is still one property in one market. Its price still moves with Dubai's. The token makes the share smaller and the record cleaner; it does not make the asset safer, and it does not make it liquid unless someone on the secondary market wants to buy.
No. The token records a share of the property's title under the Land Department's programme, with a certificate issued for it. A crowdfunding share is a share in a vehicle that holds the property.
Phase 2 opened a secondary market on the platform. Selling depends on a buyer being there; the guide on risks and liquidity covers what that means in practice.