Georgia Signs Landmark Tokenization Agreement with UAE PropTech Pioneer PRYPCO

A Decade of Blockchain Experimentation

Georgia has positioned itself as an early government adopter of blockchain technology in public administration. In February 2017, the country signed an agreement to record property transactions on the Bitcoin blockchain, eventually logging over 100,000 land records through this system. More recently, in December 2025, the Ministry of Justice signed a memorandum of understanding with Hedera to explore migrating the National Agency of Public Registry's data onto distributed ledger infrastructure. This latest agreement with PRYPCO represents a continuation of Georgia's systematic approach to modernizing its property rights framework.

The Trigger: Attracting Global Investment Through Innovation

As Georgia seeks to enhance its investment climate and attract international capital, the government has identified real estate tokenization as a strategic priority. The Ministry of Justice aims to implement secure, transparent mechanisms that strengthen investor confidence while complying with existing Georgian legislation. The partnership with PRYPCO addresses a growing global trend: tokenized real estate allows physical property assets to be converted into digital units, enabling fractional ownership and broader investor participation.

The Agreement Takes Shape

On January 13, 2026, during the Abu Dhabi Sustainability Week Summit, Minister of Justice Paata Salia signed a Memorandum of Cooperation with PRYPCO Technologies. The signing occurred in the presence of Prime Minister Irakli Kobakhidze, who was leading Georgia's government delegation on a January 12–15 visit to the United Arab Emirates. PRYPCO's founder and CEO, Amira Sajwani, represented the company alongside her leadership team. The memorandum establishes a framework for cooperation in real estate tokenization—converting physical property assets into tradable digital units.

Who Is PRYPCO?

PRYPCO is a UAE-based PropTech company founded in 2022 by Amira Sajwani, who also serves as Managing Director of Sales and Development at DAMAC Properties—one of the Middle East's largest luxury real estate developers, founded by her father, Hussain Sajwani. PRYPCO operates multiple business lines: PRYPCO Mortgage, PRYPCO Golden Visa services, PRYPCO Blocks (fractional ownership), and PRYPCO Mint—the MENA region's first licensed real estate tokenization platform.

PRYPCO Mint holds a license from Dubai's Virtual Assets Regulatory Authority (VARA) and operates in strategic partnership with the Dubai Land Department. In 2024–2025, the platform became the first globally to partner with a government entity to tokenize property title deeds, attracting investors from over 50 nationalities.

In September 2025, PRYPCO announced a pre-Series A funding round led by General Catalyst, the venture capital firm whose portfolio includes Stripe, Airbnb, and Snap. According to company disclosures, PRYPCO has facilitated nearly AED 10 billion (approximately $2.7 billion) in mortgages, helped over 3,000 individuals secure UAE Golden Visas, and onboarded more than 50,000 users who invested approximately AED 20 million across 21 properties through its fractional ownership platform.

Implications for Georgia's Real Estate Sector

The memorandum signals Georgia's intent to develop a regulatory framework for tokenized real estate that balances innovation with property rights protection. According to Minister Salia's statement, the cooperation represents "an important step in Georgia's efforts to modernize its real estate and legal infrastructure," with the goal of enhancing transparency, strengthening investor protection, and positioning Georgia "as a secure and progressive investment environment."

Amira Sajwani characterized the partnership as laying "the groundwork for a responsible and compliant approach to real estate tokenization, one that strengthens investor confidence, supports regulatory clarity, and unlocks new opportunities for global participation."

The practical implications remain to be defined. The memorandum establishes a framework for exploration rather than immediate implementation. Working groups involving the Ministry of Justice, the National Agency of Public Registry, and PRYPCO's technical teams are expected to guide next steps.

Georgia's Evolving Digital Infrastructure

This agreement follows a pattern of Georgia engaging international technology partners to modernize its property and financial systems. The December 2025 Hedera MoU focused on potential blockchain migration for the national land registry. The National Bank of Georgia has also worked with Ripple Labs on central bank digital currency development since late 2023.

For PRYPCO, the Georgian partnership marks another milestone in its international expansion strategy following its Dubai success. The company has stated its mission involves working alongside regulators and governments globally to shape real estate ownership and investment frameworks.

What This Means Going Forward

The Georgia-PRYPCO memorandum establishes the intent for public-private collaboration on real estate tokenization but does not commit either party to specific implementation timelines or regulatory changes. Georgia's previous blockchain initiatives—from the 2017 Bitcoin land registry pilot to the December 2025 Hedera discussions—demonstrate a measured approach to evaluating new technologies before full-scale adoption.

The government's stated objectives center on attracting investment while maintaining regulatory oversight. Whether tokenization becomes operational in Georgia's real estate market will depend on subsequent technical assessments, legislative considerations, and the formation of joint working groups outlined in the memorandum framework.