The Dubai Land Department (DLD) in collaboration with the Ctrl Alt platform launched a pilot project for real estate tokenization using the XRP Ledger blockchain. The initiative, announced on May 26, 2025, allows investors to purchase shares in real estate with a minimum investment of 2,000 dirhams ($544). The project is being implemented with the support of the Virtual Assets Regulator (VARA), the Central Bank of the UAE, and the Dubai Future Foundation. At launch, over 3,000 investors joined, and by 2033, the market for tokenized real estate in Dubai could reach $16 billion, accounting for 7% of total transaction volume.
Tokenization allows for the fragmentation of ownership rights on digital assets, making real estate investments accessible to a broader audience. The project synchronizes digital and traditional registries, ensuring transparency and security in transactions. According to CEO Ctrl Alt Meta Ong, this is a step towards democratizing real estate investments. The PRYPCO Mint platform, which supports token issuance, is available to UAE residents with Emirates ID.
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