The Dubai Land Department (DLD) in collaboration with the Ctrl Alt platform has launched a pilot real estate tokenization project utilizing the XRP Ledger blockchain. The initiative, announced on May 26, 2025, allows investors to purchase shares in real estate assets with a minimum investment of 2000 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 the start, more than 3000 investors joined, and by 2033, the market for tokenized real estate in Dubai could reach $16 billion, accounting for 7% of the total transaction volume.

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Tokenization allows for the fractional ownership of 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 Onga, this is a step towards democratizing real estate investments. The PRYPCO Mint platform, supporting token issuance, is available to UAE residents with an Emirates ID.

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