Dubai’s real estate market has recorded a new development in digital ownership after a residential apartment was divided into digital shares and sold in less than two minutes, with the names of the buyers registered on the actual property title deed.

The model is based on dividing ownership of a property into digital shares through blockchain technology, giving investors direct ownership in the real estate asset instead of relying on traditional structures that involve setting up special purpose vehicles and selling financial stakes in them.

The pilot project was carried out in cooperation between the Dubai Land Department and the Virtual Assets Regulatory Authority as part of efforts to develop new mechanisms for digital real estate investment.

Mark Tokuti, founder of Tokuti.io, a platform specializing in asset tokenization, said during his participation in the Fintech on the Seas event, organized by BVI Finance, that the model developed in Dubai represents an important step in the evolution of the real estate sector.

He explained that one of the main features of the model is that the investor’s name appears on the property title deed, meaning the buyer owns a genuine share of the property rather than simply holding a financial instrument or a stake in an intermediary legal entity.

Tokuti noted that this mechanism could open the real estate market to a broader range of investors, particularly by allowing them to invest through smaller and more flexible ownership shares.

He added that tokenizing property title deeds can also speed up ownership transfers, allowing some transactions to be completed within the same day, compared with traditional procedures that may take weeks or even months, while preserving the legal rights attached to the property.

Tokuti also revealed strong interest in the Dubai pilot, noting that some listed properties were fully sold within just a few minutes.

He said one offering under the Prypco Mint project was sold out in 1 minute and 58 seconds, attracting 149 investors from 35 different nationalities. The number of people registered on the waiting list exceeded 10,000.

The first offering also attracted 224 investors, with nearly 70% buying property in Dubai for the first time, indicating growing interest from new investors looking to enter the market through fractional real estate ownership.

Tokuti said the success of the Dubai experiment could encourage other countries to study similar models. He pointed out that Georgia has already begun exploring comparable applications, with expectations that real estate tokenization could expand into more markets in the coming period.

The experience represents another step in Dubai’s ongoing digital transformation of the real estate sector, with a focus on making investment more accessible, speeding up ownership transfers, and broadening participation in the property market.