The Dubai Land Department (DLD) has selected the XRP Ledger (XRPL) as the blockchain infrastructure for its inaugural Real Estate Tokenization Project.
Dubai Land Department Selects XRP Ledger For Its Real Estate Tokenization Project. $XRP
The project has been developed under the Real Estate Evolution Space Initiative (REES) and marks the first time in the Middle East that a government real estate registration authority has… pic.twitter.com/SDKWMeX14f
— TheCryptoBasic (@thecryptobasic) May 26, 2025
Ctrl Alt, a financial engineering and digital asset infrastructure provider, announced the initiative in a press release. It confirmed its official launch in partnership with the Virtual Assets Regulatory Authority, the Dubai Future Foundation, and the real estate platform Prypco.
Regulatory-Aligned Framework Built for Tokenized Real Estate
The project introduces a new framework for real estate investment, enabling tokenized property title deeds through a public blockchain. Ctrl Alt, selected as the tokenization partner, developed the infrastructure in direct coordination with the DLD.
This framework ensures synchronization between traditional and digital property ledgers, aligning with Dubai’s existing registration systems. By establishing a compliant environment for tokenization, the project meets regulatory standards while modernizing the process of property ownership and transfer.
Meanwhile, the Real Estate Evolution Space Initiative has overseen the development of this pilot. Per the release, this marks the first time a government property registration authority in the Middle East has adopted a public blockchain for title deed tokenization.
With the inclusion of XRPL, known for its long-standing reliability in tokenizing and transferring assets, the project introduces a stable technological base for this transition.
Fractional Ownership Now Available
To expand access to real estate investment, the PRYPCO Mint platform now offers fractional ownership. Investors can purchase tokenized shares in property starting from AED 2,000.
Currently, the platform is available to UAE EID holders. This approach lowers entry barriers and enables multiple investors to co-own a single real estate asset.
Tokenization Market Expected to Reach AED 60 Billion
As detailed in the release, the real estate tokenization initiative is expected to support the formation of an AED 60 billion ($16 billion) tokenized property market in Dubai by 2033. This projection equals roughly 7% of the emirate’s total property transactions.
Matt Ong, CEO and Founder of Ctrl Alt, confirmed that the company worked closely with the DLD in developing the secure tokenization infrastructure, which now serves as the backbone of this pilot phase. Ripple also acknowledged this milestone by posting on the X platform.
The Dubai Land Department’s pioneering Real Estate Tokenization Project with Ctrl Alt is a massive milestone for Dubai’s real estate market. https://t.co/fQfPBfvxvj
Couldn’t be more delighted that the XRPL has been selected as the blockchain of choice for this project thanks to…
— RippleX (@RippleXDev) May 25, 2025
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