Dubai has just taken a major leap into the future of real estate by launching the region’s first tokenised property investment platform, allowing everyday investors to own a share of Dubai’s booming real estate market, with prices starting from as little as Dh2,000.

The new project, rolled out by the Dubai Land Department (DLD) through the ‘Prypco Mint’ platform, marks a bold move toward digitising the property sector and making investment more accessible to the public.

Property Investment, But Smarter

In a first for the region, the pilot phase allows UAE ID cardholders to buy fractional shares in ready-to-own properties. All transactions are done in UAE Dirhams, with no crypto involvement during this trial stage, making the process familiar and secure for local investors.

The digital platform is designed to be fully transparent, offering complete property details and a secure transaction process. Think of it like browsing your favourite e-commerce site – but instead of shoes, you’re buying a slice of a Dubai apartment.

Big Names Behind the Scenes

This ground-breaking initiative is the result of a joint effort between Prypco, the Virtual Assets Regulatory Authority (VARA), the Central Bank, and the Dubai Future Foundation. Digital-only Zand Bank is the official banking partner, holding investor funds safely in escrow until the purchase is completed.

What’s the Big Deal?

This is more than just a new app, it’s part of Dubai’s Economic Agenda D33, a visionary plan to cement the city’s position as a global hub for smart real estate and digital finance.

Experts predict that tokenised property assets could make up 7% of Dubai’s real estate market by 2033, valued at a whopping Dh60 billion.

Dubai has launched a major affordable housing project aimed at improving living conditions for skilled professionals across the city’s public and private sectors.

Announced by Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and UAE Deputy Prime Minister and Defence Minister, the project will see the development of more than 17,000 residential units in its first phase. It is part of the broader Dubai 2040 Urban Master Plan and aligns with the emirate’s newly formed affordable housing policy.

“Our goal is to offer quality housing that improves living standards for Dubai’s workforce and strengthens its status as one of the world’s best cities to live and work,” Sheikh Hamdan said on Tuesday.

The first phase will cover six areas, including Muhaisnah 1, Al Twar 1, Al Qusais Industrial 5, and Al Leyan 1, spanning a total of 1.46 million square metres.

Developed in partnership with the Roads and Transport Authority, Dubai Municipality, and Wasl Group, the initiative targets skilled professionals of various nationalities working across critical sectors.

The project is part of a larger strategy to support urban sustainability, increase housing accessibility, and ensure Dubai continues to attract and retain top talent.

Dubai’s luxury property scene has added another billionaire to its list of high-profile buyers — Lakshmi Mittal, one of the UK’s richest residents, is now the owner of a palatial mansion in Emirates Hills, often dubbed the “Beverly Hills of Dubai.”

The India-born steel magnate, who leads ArcelorMittal, the world’s second-largest steelmaker, purchased the lavish estate earlier this year, according to sources familiar with the deal. While the property was originally listed for a staggering Dh735 million, it reportedly sold for around half that amount (Dh367), still placing it among the most expensive homes ever sold in Dubai.

The Baroque-style villa is known for its extravagant detailing, including interiors decked out in gold leaf. It sits in one of Dubai’s most exclusive gated communities, a favourite among royalty, celebrities, and ultra-wealthy investors.

Billionaires Move East

Mittal’s latest acquisition comes amid growing interest from global elites in Dubai’s booming property market, which has seen a surge in demand since the pandemic. Fellow Indian billionaire Mukesh Ambani’s family has also snapped up luxury property in the emirate.

This move also coincides with a broader exodus of high-net-worth individuals from the UK, driven by recent tax reforms. At 74, Mittal is said to be evaluating his residency options after the UK scrapped its non-domiciled tax regime, a long-standing system that allowed wealthy foreigners to avoid UK tax on overseas income for up to 15 years.

He hasn’t yet made a final decision about leaving the UK, but sources say the recent changes have prompted serious consideration. If he does relocate, it would mark a significant shift for Britain’s business elite. Other billionaires such as Nassef Sawiris and Bart Becht have already moved out of the UK.

A Global Footprint, With Deep Ties to the UK

Despite the Dubai purchase, the Mittals’ presence in the UK remains strong. They still list their Kensington mansion as a primary residence and run LK Advisers, their family office, from central London. The Mittal Foundation has donated over £20 million to healthcare and medical causes in the UK, cementing the family’s philanthropic legacy.

They’ve also made headlines for importing fine art, jewellery, and rare wines into the UK over the past decade, reflecting their status as one of Britain’s most influential billionaire families.