From mortgages to property tokens: Inside PRYPCO’s expansion in Dubai

Founded in 2022, Dubai-based PRYPCO has expanded from mortgage brokerage into fractional property investment and tokenization, as the emirate explores new ways of making real estate ownership more accessible.

For years, Ahmad Faisal Al-Jamal wanted to invest in Dubai property but was deterred by the substantial down payment and mortgage commitment required to buy an apartment. I'In 2025, he invested through PRYPCO Mint, MENA’s first real estate tokenization platform built in a strategic partnership with the Dubai Land Department.'

His experience reflects the appeal of fractional ownership: investors can gain exposure to property without purchasing an entire unit. However, potential returns still depend on property performance, fees and the ability to resell holdings.

From Mortgages to Fractional Investment

PRYPCO was founded by Emirati entrepreneur Amira Sajwani, its CEO, and Essa Ibrahim, its President and co-founder. Initially focused on mortgage brokerage, the company helps buyers arrange financing through UAE banks.

In August 2024, it reported monthly mortgage disbursals exceeding AED 500 million. By July 2026, it said it had facilitated more than AED 20 billion in mortgages through partnerships with over 20 banks.

The company raised $10 million in seed funding in September 2024, led by Shorooq Partners. In 2025, General Catalyst led an undisclosed pre-Series A round.

The platform operates through a property crowdfunding structure. Its operator, PRYPCO Blocks DIFC Ltd, is listed on the Dubai Financial Services Authority's public register.

PRYPCO subsequently expanded into fractional investment through PRYPCO Blocks, allowing participation from AED 500, and PRYPCO Mint, which uses digital tokens linked to property interests registered through the DLD. The platforms operate under different legal and regulatory arrangements.

Dubai’s Tokenization Experiment

The DLD launched its real estate tokenization pilot in March 2025. The first offering through PRYPCO Mint followed on 25 May, with infrastructure provided by Ctrl Alt.

Unlike structures involving shares in property-owning companies, the initiative records fractional property interests within the DLD’s registration framework. Investors receive Property Token Ownership Certificates, while digital tokens are issued on the XRP Ledger.

According to the Dubai Land Department, the first property attracted 224 investors from 44 nationalities. Around 70% were entering Dubai's property market for the first time.

The second offering, an apartment in Mohammed Bin Rashid City, was fully funded in one minute and 58 seconds by 149 investors representing 35 nationalities.

By October 2026, PRYPCO's own research report stated that more than 2,600 investors had participated, with AED 18.65 million invested across ten properties.

Liquidity, Fees and Regulation

Making property accessible does not necessarily make it liquid. In February 2026, the DLD introduced a controlled secondary-market phase, allowing eligible pilot tokens to be resold.

However, PRYPCO Mint generally requires a three-month lock-in before listing. Buyers pay a 2% platform fee and 2% DLD fee, alongside tokenization and possible processing charges. Sellers pay a 1% transaction fee. Additional management and performance fees may also apply.

PRYPCO FZE is listed by VARA as an active licensed virtual asset service provider, subject to licence conditions. The regulator has also warned investors against unauthorised claims of participation in the tokenization pilot.

What Comes Next?

The DLD projects tokenized real estate could reach AED 60 billion, or approximately 7% of Dubai’s property transactions, by 2033.

For PRYPCO, the expansion marks a shift beyond mortgage financing into fractional ownership and digital property investment.

Ultimately, its long-term success will depend not just on investor participation, but on rental income, accurate valuations, resale activity and the returns investors receive after fees.