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Dubai launches tokenised real estate investment project via ‘Prypco Mint’

All tokenised offerings during the pilot phase must come from companies licensed by VARA

Gulf Business
Gulf Business

25 May, 2025

Dubai launches tokenised real estate investment project via ‘Prypco Mint’
Image: Dubai Media Office

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Dubai Land Department (DLD) has launched the Middle East and North Africa region’s first tokenised real estate investment project through the ‘Prypco Mint’ platform.

The initiative, part of Dubai’s Real Estate Sandbox programme, is being carried out in collaboration with Prypco, and supported by the Virtual Assets Regulatory Authority (VARA), the Central Bank of the UAE, and the Dubai Future Foundation.

Zand Digital Bank has been appointed as the banking partner for the pilot phase.

The project enables users to invest in tokenised shares of ready-to-own properties in Dubai, with a minimum entry point of Dhs2,000.

Currently, investments are accepted only in UAE dirhams, and the use of cryptocurrencies is not permitted at this stage.

Available exclusively to UAE ID holders during the pilot, the platform is expected to expand globally in future phases.

DLD, VARA, and the Central Bank of the UAE will oversee investor funds, ensuring a tightly regulated investment environment.

“This initiative is designed to open the market to small-scale investors by providing access through a regulated and transparent investment framework,” DLD said in a statement.

Tokenised shares offer investors access to property ownership without the need for full capital outlay.

The platform provides detailed information including pricing, risk assessments, and technical property specifications, allowing users to make informed decisions.

Partnerships between DLD, Prypco, and Ctrl Alt Solutions

The move stems from a partnership between DLD, Prypco, and Ctrl Alt Solutions to create a regulatory and operational framework that fosters innovation while protecting investor rights. By 2033, tokenised real estate is projected to make up 7 per cent of Dubai’s property market, equivalent to Dhs60bn ($16bn).

Investor protection is further enhanced by a dedicated Client Money Account (CMA) system overseen by the Central Bank, which holds funds until purchases are completed.

The initiative supports the objectives of the Dubai Real Estate Sector Strategy 2033 and the Dubai Economic Agenda D33, which aim to position Dubai as the world’s leading smart city for real estate investment.

All tokenised offerings during the pilot phase must come from companies licensed by VARA. Currently, two firms — Prypco and Ctrl Alt — are authorised.

Investors will benefit from both rental income and capital gains, with legal documentation of ownership issued by DLD. The project is part of DLD’s broader Real Estate Evolution Space Initiative (REES), which promotes the integration of proptech and artificial intelligence into the sector.

Eid Al Adha 2025: Expected date for most Islamic countries

Moon sighting will be possible with telescopes from parts of Central and Western Asia, as well as most of Africa and Europe

Nida Sohail
Nida Sohail

25 May, 2025

Eid Al Adha 2025: Expected date for most Islamic countries
Image credit: WAM/Website

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The International Astronomical Centre has announced that the crescent moon marking the start of Dhul Hijjah 1446 AH will be observed on Tuesday, May 27, across the Islamic world.

Engineer Mohammad Shawkat Odeh, Director of the Abu Dhabi-based centre, stated that moon sighting will be possible with telescopes from parts of Central and Western Asia, as well as most of Africa and Europe. Additionally, it may be visible to the naked eye in large areas of the Americas, a WAM report said.

Based on these astronomical predictions, Wednesday, May 28 is expected to be the first day of Dhul Hijjah, making Friday, June 6 the likely date for the start of Eid Al Adha in most Islamic countries.

Eid Al Adha is therefore expected to fall on Friday, June 6, with the Day of Arafah observed on Thursday, June 5, according to dates listed on the UAE government’s official website.

Residents in the UAE are likely to enjoy a four-day break, comprising June 5 and 6 for Arafah and Eid Al Adha, followed by the regular weekend on June 7 and 8 (Saturday and Sunday).

Five emirates, Dh239bn: UAE real estate rockets in early 2025

More than 94,719 sales, purchase, and mortgage deals were recorded from January through March in Abu Dhabi, Dubai, Sharjah, Ajman, and Ras Al Khaimah

Gulf Business
Gulf Business

25 May, 2025

Five emirates, Dh239bn: UAE real estate rockets in early 2025

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Real estate transactions across five emirates in the UAE surged to over Dh239bn in the first quarter of 2025, underpinned by investor confidence, flexible regulations, and expanding project pipelines, official data showed.

Read- Dubai property is booming: What every investor should know

More than 94,719 sales, purchase, and mortgage deals were recorded from January through March in Abu Dhabi, Dubai, Sharjah, Ajman, and Ras Al Khaimah, marking a robust start to the year for the UAE’s property sector, a WAM report said.

Talal Al Dhiyebi, Group Chief Executive Officer at Aldar Properties, said the UAE’s real estate boom is fuelled by the country’s broader economic and cultural progress, making it one of the world’s most attractive destinations for living, working, and investing.

In statements to the Emirates News Agency (WAM), he said Aldar reported Dh8.9bn in Q1 sales—a 42 per cent year-on-year increase—with portfolio occupancy rates exceeding 95 per cent by the end of the quarter.

Abu Dhabi posted Dh25.3bn in total real estate transactions, up 34.5 per cent from Q1 2024. This included 3,819 sale deals worth Dh15.51bn—up 26.7 per cent—and 3,077 mortgage transactions totalling Dh9.8bn, a 49 per cent increase, according to the Abu Dhabi Real Estate Centre.

Dubai accounted for the largest share, with Dh193bn in real estate transactions resulting from 58,039 transactions—a growth of 16.2 per cent in value and 31.5 per cent in volume compared to 2024.

The Dubai Land Department reported Dh142bn in sales from 45,077 deals, marking a 30 per cent increase in value compared to the same period last year. Mortgages reached Dh41bn from 10,949 transactions, up 27 per cent in volume. The remainder came from grants and exchanges.

Sharjah recorded Dh13.2bn in property transactions from 24,597 deals, up 31.9 per cent year-on-year, data from the Sharjah Real Estate Registration Department showed.

Ajman registered Dh5.55bn in total transactions, reflecting a 29 per cent increase. Of this, Dh3.69bn came from 3,132 sales and purchase transactions, and Dh905m from 498 mortgage transactions, with the remainder comprising grants and property exchanges.

In Ras Al Khaimah, residential off-plan sales exceeded Dh2.4bn from more than 1,300 transactions, according to a report by CBRE, highlighting continued demand in the northern emirate’s housing market.

India, Pakistan extend airspace closures for each other’s airlines

The Pakistan Airports Authority said the restriction applied to “all aircraft registered, operated, owned, or leased by India”

Reuters
Reuters

23 May, 2025

India, Pakistan extend airspace closures for each other’s airlines
Image credit: Getty Images

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Pakistan and India have extended airspace restrictions for each other’s aircraft in tit-for-tat moves, both countries said on Friday, amid continuing diplomatic tensions between the neighbours after a brief tensions this month.

Read-Pakistan airspace ban: Indian airlines to suffer higher costs

The Pakistan Airports Authority said the restriction applied to “all aircraft registered, operated, owned, or leased by India”, including military planes, until 4:59 am local time on June 24. (2359 GMT on June 23)

India’s Civil Aviation Ministry issued a corresponding NOTAM (Notice to Airmen), saying Pakistani-registered, operated, owned, or leased aircraft, including military flights, would be barred from Indian airspace through June 23.

Tashkent turns tech hub as Huawei accelerates ME&CA’s digital future

Huawei has opened its flagship Tech Carnival & Partner Summit 2025 in Uzbekistan — its first time in the country

Gulf Business
Gulf Business

23 May, 2025

Tashkent turns tech hub as Huawei accelerates ME&CA’s digital future
Pictured: Derek Hao, President of Huawei Enterprise Business ME&CA

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The historic city of Tashkent marked a pivotal moment in the Middle East and Central Asia’s (ME&CA) digital journey as Huawei opened its flagship Tech Carnival & Partner Summit 2025 in Uzbekistan — its first time in the country.

Under the banner “Accelerating the Intelligent World,” the event drew more than 1,500 industry leaders, government officials, technology experts and partners to explore how intelligent technologies can drive the region’s digital transformation.

Minister of Digital Technologies Sherzod Shermatov underscored the occasion: “Uzbekistan stands at a crucial junction of ancient heritage and modern innovation. This event represents our commitment to becoming a regional hub for digital excellence.”

A region at the digital crossroads

ME&CA sits at a critical inflection point. Spanning 21 countries with a combined GDP above $6 trn and a population topping 500 m, the region offers vast growth potential. Rapid global adoption of artificial intelligence—spurred by advances such as DeepSeek—only heightens the urgency to act.

Unlike mature markets burdened by legacy infrastructure, many ME&CA nations can build AI-first ecosystems from scratch. This digital leapfrogging offers an unprecedented chance to secure a competitive edge in the global economy. A young, tech-savvy population and government-led diversification away from hydrocarbons further fuel momentum.

Derek Hao, President of Huawei Enterprise Business ME&CA, captured the mood: “Artificial Intelligence is transforming industries at an unprecedented pace… Huawei has developed new digital and intelligent solutions for industries based on our global practices with customers and partners.”

Uzbekistan’s own Digital Uzbekistan 2030 strategy aims to propel the country’s e-Government Development Index from 63rd to the global top 30 within a few years.

The geopolitical dimension of digital sovereignty

Technological progress also reflects aspirations for digital sovereignty. As global tech ecosystems fragment, regional control over digital infrastructure translates into economic and strategic autonomy. Emerging “technological corridors”—linking the Gulf to Central Asia and beyond—position ME&CA as a vital bridge between East and West in an AI-enabled economy.

Comprehensive digital-enablement strategy

Huawei recognises organisations are at different stages of digital maturity and has created four implementation models:

  1. ICT infrastructure enablement – integrated computing, networks and storage.

  2. Cloud-platform enablement – one platform for multi-cloud applications, cutting development time from months to weeks.

  3. Data enablement – a lake-house solution that eliminates silos and reduces data-migration workloads by 80 per cent.

  4. AI enablement – frameworks and tools that speed real-world deployment.

Regional investment and commitment

Huawei has set up ICT academies with local universities and, through its T.H.E Gold Talent Programme, plans to cultivate one million digital professionals across ME&CA. The company works with more than 3,000 partners serving tens of thousands of SMEs, helping its regional commercial market grow 34 per cent year on year in 2024.

As ME&CA embraces its digital future, success will hinge on collaboration among governments, technology providers and industry leaders—and on sustained investment in human capital. The rise of “collaborative intelligence,” where human creativity and AI combine to tackle complex challenges, marks the next frontier.

Derek Hao closed with a clear pledge: “At Huawei, we are committed to working with our partners to build robust digital infrastructure and accelerate intelligent transformation across the region.” Through targeted investment in education, infrastructure and partnerships, ME&CA is poised to lead in the intelligent economy.

Dubai traffic: How RTA aims to eliminate jams on Sheikh Zayed, Al Khail Roads

The RTA is also set to construct a two-lane bridge in Nad Al Sheba, spanning approximately 700 metres

Nida Sohail
Nida Sohail

23 May, 2025

Dubai traffic: How RTA aims to eliminate jams on Sheikh Zayed, Al Khail Roads
Image credit: WAM/Website

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To enhance traffic flow and achieve smoother mobility in Dubai, the Roads and Transport Authority (RTA) is undertaking a major project to develop key intersections along Hessa Street. These include intersections with Sheikh Zayed Road, First Al Khail Road, Al Asayel Street, and Al Khail Road, covering a distance of 4.5 kilometres.

Read-Use public bus service in Dubai? Here’s what you should know

Additionally, the number of lanes on Hessa Street will be increased from two to four in each direction, boosting the street’s capacity from 8,000 to 16,000 vehicles per hour per direction. This development project supports several key areas in Dubai, with more than 63 percent of the work completed to date. Completion is scheduled for the first quarter of 2026.

Bridge connecting Dubai–Al Ain Road to Nad Al Sheba

The RTA is also set to construct a two-lane bridge in Nad Al Sheba, spanning approximately 700 metres. The new bridge will serve residential communities in Nad Al Sheba and provide a direct connection for inbound traffic from Dubai–Al Ain Road towards Al Ain.

Designed to handle 2,600 vehicles per hour, the bridge will reduce travel time from Dubai–Al Ain Road to Nad Al Sheba by 83 percent—cutting the journey from six minutes to just one. The project aims to improve traffic flow for an area home to around 30,000 residents, while easing congestion at key entry and exit points throughout Nad Al Sheba.

Construction is scheduled to begin in the fourth quarter of 2025, with completion targeted for the fourth quarter of 2026. The project reflects RTA’s commitment to infrastructure development and to enhancing the efficiency of Dubai’s road network. It addresses the emirate’s rapid population growth and urban expansion, particularly in residential areas, while upholding the highest standards of traffic safety and seamless mobility. These goals align with the leadership’s vision to position Dubai as the best city in the world for living and mobility.

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