Dubai Land Department has switched on secondary trading for tokenised property, and the numbers are worth logging as a dataset rather than a headline. Since 20 February 2026, roughly 7.8 million existing real estate tokens have become resellable inside the Prypco Mint app, where entry starts at AED 2,000 per position. Before this, a token was a one-way instrument: you held it until the underlying property sold. Phase two adds a transfer mechanism, which means price discovery on fractional shares now has a timestamped, in-app record.
For anyone tracking this as a market rather than a headline, the pilot is supervised jointly by DLD and the Virtual Assets Regulatory Authority (VARA), with investor protection carried over from phase one, which had input from the Central Bank of the UAE and the Dubai Future Foundation. Phase one, launched in 2025, moved more than AED 9 million through Prypco Mint in its first month.
The interesting metric going forward is not volume but exit speed: how long it takes a token to sell relative to a full property, which typically involves weeks of listings and transfer appointments in the standard resale market. DLD's own projection puts tokenised property at AED 60 billion a year by 2033, about 7 percent of expected transactions. Whether that number holds depends on how the secondary market's liquidity and pricing behavior actually play out from here.
Originally published on Doment, Dubai property intelligence.
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