Dubai’s second blockchain-backed real estate offering sold out in an astonishing 1 minute and 58 seconds, according to the Dubai Land Department. The tokenised one-bedroom unit in Kensington Waters, Mohammed Bin Rashid City valued at AED 1.875 million and offered at a discounted AED 1.5 million attracted 149 investors from 35 nationalities, while the waiting list surged to over 10,700 names.

Launched via the PRYPCO Mint platform under the Property Tokenisation Initiative, the sale enabled investors to own a share from as little as AED 2,000.The platform is regulated by the Virtual Assets Regulatory Authority (VARA) and supported by a blockchain system built on the XRP Ledger. It empowers users with official Property Token Ownership Certificates issued by DLD, signifying legally recognised fractional property ownership

This rapid subscription follows the success of the debut tokenised listing in May a two-bedroom Business Bay apartment that sold out within 24 hours demonstrating strong demand for accessible, technology-driven real estate investmentsWith authorities targeting tokenised assets to become a mainstream segment of Dubai’s property market by 2033, this initiative marks a significant milestone in digital asset adoption.