Dubai is making history by launching the first-ever tokenized real estate project in the Middle East and North Africa (MENA). Backed by influential government bodies, this initiative utilizes the Prypco Mint platform for fractional ownership of properties. This innovative approach allows investors to buy smaller shares in physical real estate for as low as 2,000 Emirati dirhams (around $545). While currently accessible only to UAE residents with national IDs, international access is planned for future phases. Zand Digital Bank will manage financial services during the pilot stage. The Dubai Virtual Assets Regulatory Authority (VARA) has also recently updated its regulations, paving the way for trading of Real World Asset (RWA) tokens on secondary markets. This sets a solid legal framework for the project and future similar initiatives.