Dubai has taken a major leap into the future of real estate investment with the launch of its first government-backed Real Estate Tokenization Project.
Spearheaded by the Dubai Land Department (DLD) and supported by the Virtual Assets Regulatory Authority (VARA), the Dubai Future Foundation, and PropTech firm PRYPCO, this initiative marks a groundbreaking shift in how property ownership and investment are managed in the Emirate.
Ctrl Alt, a leading tokenization infrastructure platform, has been selected as the official tokenization provider for the project. Leveraging its financial engineering and blockchain integration expertise, Ctrl Alt has worked closely with the DLD to create a secure, compliant framework for issuing on-chain real estate title deed tokens.
The XRP Ledger (XRPL) was chosen as the project’s blockchain backbone due to its proven reliability and efficiency in handling both digital and real-world asset transactions. Ctrl Alt has integrated its system directly with Dubai’s traditional property registry, enabling a synchronized and transparent connection between on-chain tokens and the existing title deed system.
This project, launched under the Real Estate Evolution Space (REES) initiative, is the first of its kind in the Middle East where a government real estate authority has implemented blockchain-based tokenization for official property titles. It enables fractional ownership, broadening access to Dubai’s real estate market by lowering entry costs and increasing investor participation.
Through PRYPCO’s live Mint platform, investors can co-own tokenized real estate with a minimum investment of just AED 2,000.
The initiative is expected to help grow a tokenized property market in Dubai valued at AED 60 billion ($16 billion) by 2033—representing 7% of all real estate transactions in the city.
Kosta Gushterov
Reporter at Coindoo
Kosta has been a part of the team since 2021 and has solidified his position with a thirst for knowledge, incredible dedication to his work and a “detective-like” mindset. He not only covers a wide range of trending topics, he also creates reviews, PR articles and educational content. His work has also been referenced by other news outlets.
Source: https://coindoo.com/dubai-launches-first-government-backed-tokenized-real-estate-project-on-xrp-ledger/