The Dubai Land Department is set to unveil exclusive real estate offerings tomorrow through the “Bripco Mint” platform, which is the first tokenized real estate platform in the MENA region.
The two new properties will be made available for investment on Wednesday at 11 AM UAE time, bringing the total number of tokenized assets launched by the department since the initiative began on May 25th to five. Notably, three of these have been fully funded in record times, some taking less than two minutes.
The first property is a modern apartment located in Dubai Marina within the “Liv Residence” tower, while the second is another luxurious residential unit situated in the Mohammed Bin Rashid City area, specifically in the “Sobha Creek Vista Grand” tower.
The tokenization project in Dubai operates under a regulatory framework established by the Dubai Land Department in collaboration with the VARA authority, the Central Bank of the UAE, and the Dubai Future Foundation through the Dubai Real Estate Sandbox. The blockchain infrastructure is managed by Ctrl Alt, which issues secure ownership tokens on the XRP Ledger. Additionally, Zand Bank serves as the official banking partner, ensuring a robust and secure financial integration.