The Dubai Land Department has successfully completed the sale of its first tokenized villa in just five minutes after its listing on the “Brepkko Mint” platform, achieving a price of 1.7 million dirhams.
This property is a two-bedroom villa located in Dubai Land and was fully funded in a mere five minutes by 169 investors from 40 different nationalities residing in the UAE. The average investment per individual amounted to 10,355 dirhams.
Although the estimated market value of the villa is 1.8 million dirhams, it was financed today for 1.7 million dirhams, providing investors with immediate value and possible earnings from partial ownership starting as low as 2,000 dirhams.
With this first tokenized villa sale, the Dubai Land Department marks its third successful transaction of tokenized real estate in the emirate since launching the initiative on May 25.
The regulation of the property tokenization project in Dubai is a collaborative effort between the Land Department, the VARA authority, the Central Bank of the UAE, and the Dubai Future Foundation through the Dubai Real Estate Sandbox. The infrastructure is managed by Ctrl Alt, utilizing blockchain technology to issue secure ownership tokens on the XRP Ledger, while Zand Bank serves as the official banking partner to ensure strong and secure financial integration.