The Dubai Land Department has just announced a remarkable initiative on real estate tokenization on the XRP Ledger, in collaboration with Ctrl Alt. Here are some highlights of the project:
- Fragmented ownership: Investors can own real estate with a minimum investment of 545 USD (2,000 AED), expanding opportunities for many investors.
- Platform: The initiative will be implemented through the PRYPCO Mint platform, allowing users to easily participate in the tokenized real estate market.
- Official collaboration: The project is being developed in collaboration with the Dubai Virtual Assets Regulatory Authority (VARA) and the Dubai Future Fund, demonstrating commitment and support from local authorities.
- Goals and benefits: The main goal of the project is to enhance transparency and efficiency in registering real estate ownership through blockchain technology.
- Future plans: Dubai aims to build a 16 billion USD (60 billion AED) tokenized real estate market by 2033, showing the strong growth potential of this market in the future.
This initiative not only helps citizens and investors gain easier access to real estate but also lays the groundwork for sustainable development in this sector through modern technology.$XRP
