Dubai's second tokenised real estate project sold out in a record-breaking time of less than two minutes, the emirate’s Land Department said, illustrating the high demand amid a housing boom.
The property is a one-bedroom apartment in Kensington Waters, Mohammed Bin Rashid City, valued at Dh1.5 million ($408,441), offered at a discounted rate compared to its estimated market value of Dh1.8 million, project promoters Prypco said in a statement. It attracted 149 investors.
UAE residents holding valid Emirates IDs can pay as little as Dh2,000 for a share of this new property. The scheme is expected to open to international investors in its next phase, the company said.
Launched on May 25, it is being implemented by Prypco Mint platform, in collaboration with Dubai's Virtual Assets Regulatory Authority (Vara), the UAE Central Bank and the Dubai Future Foundation (DFF) through the Real Estate Sandbox.
The platform’s first property, a two-bedroom apartment in Business Bay, attracted 224 investors, with an average input of Dh10,714. Listed at Dh2.4 million, below its Dubai Land Department (DLD) valuation of Dh2.89 million, it was fully funded within one day.
The land department has invited those interested to register early and set up their accounts to take advantage of coming offerings before they sell out.
Tokenisation caters to a particular segment in the market, featuring people who wanted to join the real estate party but never had the invitation, said Mario Volpi, head of brokerage at Novvi Properties.
"It's relatively easy to buy in and buy out. However, there is just one company offering it now. So it's a bit of a closed shop in that respect."
What is property tokenisation?
At a basic level, tokenisation converts a physical real estate asset into digital shares – known as tokens – recorded on a blockchain. Each token represents fractional ownership in the property, allowing a number of investors to participate at a lower entry point than traditional real estate, said P.P. Varghese, head of professional services at Cushman & Wakefield Core.
"In principle, it’s an alternative way to structure and record ownership, but the underlying asset remains the same: the property still exists, generates income and requires the same fundamentals to perform over time," he said.
"Tokenisation doesn’t replace the traditional drivers of value in real estate. Asset quality, location, tenancy, governance and market dynamics continue to be the factors that ultimately determine an asset’s performance. The technology may change how ownership is accessed and traded, but it doesn’t change what makes a property successful."
How to invest under this model?
Currently in Dubai, investors are being encouraged to contact the DLD to express interest in available projects, said Matthew Green, head of research - Mena at CBRE.
"However, over time, we would expect the market to open up further, with different avenues to acquire these assets to emerge, likely through a combination of official government channels and also directly through other market participants, including developers, funds and other registered entities."
Risks and returns
In terms of returns, tokenised real estate mirrors traditional property investment: rental yields, capital appreciation and long-term market growth. Where tokenisation introduces additional variables is in liquidity, pricing transparency, regulatory oversight and platform stability – all of which remain relatively early stage in most global markets, including Dubai, Cushman & Wakefield Core said.
"We advise investors to approach tokenisation with the same discipline they would apply to any other real estate investment," Mr Varghese said. "The structure may allow fractional access, but the underlying asset still requires thorough due diligence."
CBRE's Mr Green highlighted how the tokenised asset is open to fluctuations in the supply and demand of property, and related pricing. Outside of that, the risks are related to technology, the systems and platforms that house and trade these assets, he added.
Advantages and disadvantages
Tokenisation ultimately helps to expand a market by diversifying the investor pool, creating liquidity, removing barriers to entry (time, location, investment size, etc) and facilitating an easier and quicker method to participate in the market, Mr Green said.
From a developer or owner perspective, it also creates another potential avenue for divestment, offering a tangible alternative for project fund-raising, while at the same time also attracting an entirely new source of investors to enter the market, he added.
However, Mr Varghese said the disadvantages are equally important to acknowledge. The regulatory frameworks are still developing, platforms vary in quality and oversight, and in many cases, secondary trading markets remain thin.
"Transaction costs can also become disproportionately high, particularly at the smaller investment sizes that tokenisation often targets. When you factor in platform fees, blockchain gas fees, legal expenses and regulatory compliance costs, the total cost of entry can easily exceed what investors might pay in a conventional real estate transaction," he warned.
"For very small ticket sizes - say, investments of $100 - these fixed costs can quickly erode returns. Even dividend payouts can be costly to process at scale, depending on the platform architecture."
There are also valuation challenges specific to tokenised assets, Mr Varghese said. "While fractional ownership creates access, it can reduce liquidity compared to traditional whole-asset ownership, which may lead investors to apply discounts when pricing tokens. Conversely, at times of heightened retail interest, tokens may trade at premiums that don’t fully reflect underlying asset fundamentals. That can create disconnects between actual property performance and token pricing," he explained.
Value of tokenised real estate market
The land department projects Dubai’s real estate tokenisation market to reach Dh60 billion by 2033, representing 7 per cent of the emirate’s total property transactions.
"Dubai has many of the ingredients in place to explore tokenisation at scale: an openness to financial innovation, strong regulatory bodies, and significant cross-border capital flows," Mr Varghese said.
"The market is watching the evolution of tokenisation carefully, and we expect to see early activity particularly in smaller-scale residential and niche assets. It’s likely that tokenisation will find its place in the market over time, but for now, it’s more complementary than entirely disruptive."
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Getting there
The flights
Emirates and Etihad fly to Johannesburg or Cape Town daily. Flights cost from about Dh3,325, with a flying time of 8hours and 15 minutes. From there, fly South African Airlines or Air Namibia to Namibia’s Windhoek Hosea Kutako International Airport, for about Dh850. Flying time is 2 hours.
The stay
Wilderness Little Kulala offers stays from £460 (Dh2,135) per person, per night. It is one of seven Wilderness Safari lodges in Namibia; www.wilderness-safaris.com.
Skeleton Coast Safaris’ four-day adventure involves joining a very small group in a private plane, flying to some of the remotest areas in the world, with each night spent at a different camp. It costs from US$8,335.30 (Dh30,611); www.skeletoncoastsafaris.com
In-demand jobs and monthly salaries
- Technology expert in robotics and automation: Dh20,000 to Dh40,000
- Energy engineer: Dh25,000 to Dh30,000
- Production engineer: Dh30,000 to Dh40,000
- Data-driven supply chain management professional: Dh30,000 to Dh50,000
- HR leader: Dh40,000 to Dh60,000
- Engineering leader: Dh30,000 to Dh55,000
- Project manager: Dh55,000 to Dh65,000
- Senior reservoir engineer: Dh40,000 to Dh55,000
- Senior drilling engineer: Dh38,000 to Dh46,000
- Senior process engineer: Dh28,000 to Dh38,000
- Senior maintenance engineer: Dh22,000 to Dh34,000
- Field engineer: Dh6,500 to Dh7,500
- Field supervisor: Dh9,000 to Dh12,000
- Field operator: Dh5,000 to Dh7,000
Super Rugby play-offs
Quarter-finals
- Hurricanes 35, ACT 16
- Crusaders 17, Highlanders 0
- Lions 23, Sharks 21
- Chiefs 17, Stormers 11
Semi-finals
Saturday, July 29
- Crusaders v Chiefs, 12.35pm (UAE)
- Lions v Hurricanes, 4.30pm
match info
Southampton 0
Arsenal 2 (Nketiah 20', Willock 87')
Red card: Jack Stephens (Southampton)
Man of the match: Rob Holding (Arsenal)
RESULTS
5pm: Maiden (PA) Dh80,000 1,200m
Winner: Ferdous, Szczepan Mazur (jockey), Ibrahim Al Hadhrami (trainer)
5.30pm: Arabian Triple Crown Round-3 Group 3 (PA) Dh300,000 2,400m
Winner: Basmah, Fabrice Veron, Eric Lemartinel
6pm: UAE Arabian Derby Prestige (PA) Dh150,000 2,200m
Winner: Ihtesham, Szczepan Mazur, Ibrahim Al Hadhrami
6.30pm: Emirates Championship Group 1 (PA) Dh1,000,000 2,200m
Winner: Somoud, Patrick Cosgrave, Ahmed Al Mehairbi
7pm: Abu Dhabi Championship Group 3 (TB) Dh380,000 2,200m
Winner: GM Hopkins, Patrick Cosgrave, Jaber Ramadhan
7.30pm: Wathba Stallions Cup Conditions (PA) Dh70,000 1,600m
Winner: AF Al Bairaq, Tadhg O’Shea, Ernst Oertel
COMPANY%20PROFILE
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Results
5pm: Maiden (PA) Dh80,000 (Turf) 1,200m, Winner: ES Rubban, Antonio Fresu (jockey), Ibrahim Aseel (trainer)
5.30pm: Handicap (PA) Dh85,000 (T) 1,200m, Winner: Al Mobher, Sczcepan Mazur, Ibrahim Al Hadhrami
6pm: Handicap (PA) Dh80,000 (T) 2,200m, Winner: Jabalini, Tadhg O’Shea, Ibrahim Al Hadhrami
6.30pm: Wathba Stallions Cup (PA) Dh70,000 (T) 2,200m, Winner: AF Abahe, Tadgh O’Shea, Ernst Oertel
7pm: Handicap (PA) Dh85,000 (T) 1,600m, Winner: AF Makerah, Tadhg O’Shea, Ernst Oertel
7.30pm: Maiden (TB) Dh80,000 (T) 1,600m, Winner: Law Of Peace, Tadhg O’Shea, Satish Seemar
Squads
India: Kohli (c), Rahul, Shaw, Agarwal, Pujara, Rahane, Vihari, Pant (wk), Ashwin, Jadeja, Kuldeep, Shami, Umesh, Siraj, Thakur
West Indies: Holder (c), Ambris, Bishoo, Brathwaite, Chase, Dowrich (wk), Gabriel, Hamilton, Hetmyer, Hope, Lewis, Paul, Powell, Roach, Warrican, Joseph
Globalization and its Discontents Revisited
Joseph E. Stiglitz
W. W. Norton & Company
Score
Third Test, Day 1
New Zealand 229-7 (90 ov)
Pakistan
New Zealand won the toss and elected to bat
COMPANY%20PROFILE
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Winners
Best Men's Player of the Year: Kylian Mbappe (PSG)
Maradona Award for Best Goal Scorer of the Year: Robert Lewandowski (Bayern Munich)
TikTok Fans’ Player of the Year: Robert Lewandowski
Top Goal Scorer of All Time: Cristiano Ronaldo (Manchester United)
Best Women's Player of the Year: Alexia Putellas (Barcelona)
Best Men's Club of the Year: Chelsea
Best Women's Club of the Year: Barcelona
Best Defender of the Year: Leonardo Bonucci (Juventus/Italy)
Best Goalkeeper of the Year: Gianluigi Donnarumma (PSG/Italy)
Best Coach of the Year: Roberto Mancini (Italy)
Best National Team of the Year: Italy
Best Agent of the Year: Federico Pastorello
Best Sporting Director of the Year: Txiki Begiristain (Manchester City)
Player Career Award: Ronaldinho
Race card:
6.30pm: Baniyas (PA) Group 2 Dh195,000 1,400m.
7.05pm: Maiden (TB) Dh165,000 1,400m.
7.40pm: Handicap (TB) Dh190,000 1,200m.
8.15pm: Maiden (TB) Dh165,000 1,200m.
8.50pm: Rated Conditions (TB) Dh240,000 1,600m.
9.20pm: Handicap (TB) Dh165,000 1,400m.
10pm: Handicap (TB) Dh175,000 2,000m.
Moral education needed in a 'rapidly changing world'
Moral education lessons for young people is needed in a rapidly changing world, the head of the programme said.
Alanood Al Kaabi, head of programmes at the Education Affairs Office of the Crown Price Court - Abu Dhabi, said: "The Crown Price Court is fully behind this initiative and have already seen the curriculum succeed in empowering young people and providing them with the necessary tools to succeed in building the future of the nation at all levels.
"Moral education touches on every aspect and subject that children engage in.
"It is not just limited to science or maths but it is involved in all subjects and it is helping children to adapt to integral moral practises.
"The moral education programme has been designed to develop children holistically in a world being rapidly transformed by technology and globalisation."
Emergency
Director: Kangana Ranaut
Stars: Kangana Ranaut, Anupam Kher, Shreyas Talpade, Milind Soman, Mahima Chaudhry
Rating: 2/5
2025 Fifa Club World Cup groups
Group A: Palmeiras, Porto, Al Ahly, Inter Miami.
Group B: Paris Saint-Germain, Atletico Madrid, Botafogo, Seattle.
Group C: Bayern Munich, Auckland City, Boca Juniors, Benfica.
Group D: Flamengo, ES Tunis, Chelsea, Leon.
Group E: River Plate, Urawa, Monterrey, Inter Milan.
Group F: Fluminense, Borussia Dortmund, Ulsan, Mamelodi Sundowns.
Group G: Manchester City, Wydad, Al Ain, Juventus.
Group H: Real Madrid, Al Hilal, Pachuca, Salzburg.
The Penguin
Starring: Colin Farrell, Cristin Milioti, Rhenzy Feliz
Creator: Lauren LeFranc
Rating: 4/5
Groom and Two Brides
Director: Elie Semaan
Starring: Abdullah Boushehri, Laila Abdallah, Lulwa Almulla
Rating: 3/5
Ten tax points to be aware of in 2026
1. Domestic VAT refund amendments: request your refund within five years
If a business does not apply for the refund on time, they lose their credit.
2. E-invoicing in the UAE
Businesses should continue preparing for the implementation of e-invoicing in the UAE, with 2026 a preparation and transition period ahead of phased mandatory adoption.
3. More tax audits
Tax authorities are increasingly using data already available across multiple filings to identify audit risks.
4. More beneficial VAT and excise tax penalty regime
Tax disputes are expected to become more frequent and more structured, with clearer administrative objection and appeal processes. The UAE has adopted a new penalty regime for VAT and excise disputes, which now mirrors the penalty regime for corporate tax.
5. Greater emphasis on statutory audit
There is a greater need for the accuracy of financial statements. The International Financial Reporting Standards standards need to be strictly adhered to and, as a result, the quality of the audits will need to increase.
6. Further transfer pricing enforcement
Transfer pricing enforcement, which refers to the practice of establishing prices for internal transactions between related entities, is expected to broaden in scope. The UAE will shortly open the possibility to negotiate advance pricing agreements, or essentially rulings for transfer pricing purposes.
7. Limited time periods for audits
Recent amendments also introduce a default five-year limitation period for tax audits and assessments, subject to specific statutory exceptions. While the standard audit and assessment period is five years, this may be extended to up to 15 years in cases involving fraud or tax evasion.
8. Pillar 2 implementation
Many multinational groups will begin to feel the practical effect of the Domestic Minimum Top-Up Tax (DMTT), the UAE's implementation of the OECD’s global minimum tax under Pillar 2. While the rules apply for financial years starting on or after January 1, 2025, it is 2026 that marks the transition to an operational phase.
9. Reduced compliance obligations for imported goods and services
Businesses that apply the reverse-charge mechanism for VAT purposes in the UAE may benefit from reduced compliance obligations.
10. Substance and CbC reporting focus
Tax authorities are expected to continue strengthening the enforcement of economic substance and Country-by-Country (CbC) reporting frameworks. In the UAE, these regimes are increasingly being used as risk-assessment tools, providing tax authorities with a comprehensive view of multinational groups’ global footprints and enabling them to assess whether profits are aligned with real economic activity.
Contributed by Thomas Vanhee and Hend Rashwan, Aurifer
Europe’s rearming plan
- Suspend strict budget rules to allow member countries to step up defence spending
- Create new "instrument" providing €150 billion of loans to member countries for defence investment
- Use the existing EU budget to direct more funds towards defence-related investment
- Engage the bloc's European Investment Bank to drop limits on lending to defence firms
- Create a savings and investments union to help companies access capital
Nepotism is the name of the game
Salman Khan’s father, Salim Khan, is one of Bollywood’s most legendary screenwriters. Through his partnership with co-writer Javed Akhtar, Salim is credited with having paved the path for the Indian film industry’s blockbuster format in the 1970s. Something his son now rules the roost of. More importantly, the Salim-Javed duo also created the persona of the “angry young man” for Bollywood megastar Amitabh Bachchan in the 1970s, reflecting the angst of the average Indian. In choosing to be the ordinary man’s “hero” as opposed to a thespian in new Bollywood, Salman Khan remains tightly linked to his father’s oeuvre. Thanks dad.
Dhadak
Director: Shashank Khaitan
Starring: Janhvi Kapoor, Ishaan Khattar, Ashutosh Rana
Stars: 3
