In a significant development for blockchain-based real estate, the United Arab Emirates has selected Ripple’s XRP Ledger (XRPL) to power its real estate tokenization initiative, signaling a major step forward in XRP adoption across the region.
XRPL Powers First Real Estate Tokenization Project in MENA
The initiative, which now includes over 3,000 registered investors, marks the first real estate tokenization program in the MENA region and is currently available exclusively to Emirates ID cardholders who are official UAE residents.
Announced by Mahmoud AlBurai, a senior executive at the Dubai Land Department (DLD), the pilot program has garnered substantial interest, with many participants already on the waitlist. According to AlBurai, the trial network for tokenization is based entirely on XRPL, suggesting Ripple’s blockchain is at the core of this government-backed effort.
Government Partnership and Tokenized Property Ownership
The DLD has partnered with Prypco Mint and Ctrl Alt to digitize and tokenize ownership deeds for government-owned real estate. This collaboration aims to eventually enable investors to purchase fractional ownership in tokenized property — a game-changing concept in real estate accessibility and liquidity.
Although the current phase is limited to UAE nationals and residents, the program’s potential for broader expansion remains an open question, especially given Ripple’s expanding ecosystem of real-world asset (RWA) integrations.
Ripple’s Real-World Asset Strategy Gains Momentum
Ripple’s role in tokenizing real-world assets on XRPL has grown significantly in recent years. Notable investments include:
$10 million into tokenized U.S. Treasury bills via OpenEden
$5 million in a tokenized money market fund launched by UK-based Abrdn
The addition of real estate to Ripple’s tokenization portfolio further enhances XRPL’s institutional appeal, especially in regulated sectors.
Institutional Onboarding Accelerates in the UAE
Following its regulatory approval from the Dubai Financial Services Authority (DFSA), Ripple has started onboarding financial institutions into its Ripple Payments infrastructure — a move that complements the expanding utility of XRP and RLUSD within high-value financial ecosystems.