Dubai Launches XRP Ledger Real Estate Tokenization Trial

• Dubai government is testing fractional real estate tokenization on the XRP Ledger (Ripple-linked).
• DLD’s project with Prypco, Ctrl Alt allows Dubai property investment from just AED 2,000 for users.
• VARA, CBUAE oversee Dubai’s trial, which targets a $16B tokenized property market by the year 2033.

Dubai’s government has kicked off testing for a blockchain-based fractional real estate investment system, marking a new phase in the city’s digital asset strategy. The Dubai Land Department (DLD), in partnership with Prypco and Ctrl Alt, has set up the Real Estate Tokenization Project under the Real Estate Sandbox. 

As reported, the trial is supported by the Virtual Assets Regulatory Authority (VARA), the Central Bank of the UAE (CBUAE), and the Dubai Future Foundation (DFF), which will use the XRP Ledger as its blockchain infrastructure.

DLD, Prypco, Ctrl Alt Spearhead Real Estate Tokenization Project on Ripple’s XRP Ledger

The platform for this Dubai initiative, known as Prypco Mint, is designed to allow tokenized investment in ready-to-own properties. As noted, investors can participate with a minimum contribution of AED 2,000. All transactions are carried out in UAE Dirhams, and cryptocurrencies are not permitted during the pilot phase.

Each property listing includes pricing data, risk assessments, and technical specifications. Additionally, the project will allow investors to earn returns from rental income and capital gains without the need to manage properties directly.

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However, the DLD will record property ownership, while VARA will provide digital asset oversight. Only VARA-licensed firms are allowed to issue real estate tokens. As of the current phase, Prypco and Ctrl Alt are the authorized firms managing the listings.

Investor Protection Key: CMA Framework Under CBUAE Supervision in Dubai Initiative

According to project officials, investor protection shall be managed through the Client Money Account (CMA) framework regulated by the Central Bank of the UAE. Under this arrangement, funds will be deposited into corporate CMAs and not released until the purchase process is completed.

This measure is intended to protect investor capital throughout the transaction. The Dubai Land Department is also tasked with verifying the fairness of property prices before any asset is listed on the platform.

Dubai Eyes $16 Billion Tokenized Property Market by 2033 with XRP Ledger and Ripple-Linked Tech

The DLD has ambitious projections for this venture powered by the XRP Ledger, a technology linked to Ripple. The department projects that tokenized real estate could account for 7% of Dubai’s property sector by 2033, with an estimated value of AED 60 billion ($16 billion). 

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The agency views the tokenization initiative as part of its 2033 real estate strategy to enhance transparency, accessibility, and operational efficiency.