Dubai is the first government in the Middle East to implement a public blockchain infrastructure for real estate registration and A pilot program for the tokenization of ownership certificates on the XRP Ledger (XRPL)started. The initiative, headed by the Dubai Land Department (DLD), introduces a regulatory framework for digital real estate investments and is intended to redesign the city’s real estate sector in the next decade.
The pilot project, which was developed in cooperation with CTRL Alt and the Real Estate platform Prypco, is part of Dubais Real Estate Sandbox, a program for testing and introducing new technologies in the real estate sector. The initiative uses the PRYPCO MINT platform to offer fractional property on the finished properties of 2,000 AED. All transactions are handled in VAE-Dirhams, with cryptocurrencies in the initial phase excluding.
CTRL Alt, a provider of infrastructures for digital assets, has developed the framework for the tokenization in direct coordination with the DLD. This structure will make it possible for digital tokens that correspond to the property of real estate to be synchronized with the official real estate Ledger from Dubai. However, the legal documentation of property remains with the DLD to ensure that the digital processes match the existing regulatory protocols.
According to the report, the project brings together the enforcement of traditional and digital regulatory authorities. While the DLD manages the registration and review of physical property, the Virtual Assets Regulatory Authority (Vara) will monitor the tokenized assets on the blockchain.
During the pilot phase, only companies that belong to Vara may sell tokenized properties. Prypco and CTRL Alt were selected for participation, and other companies should join the platform later. The DLD will check all the properties listed for a fair pricing before they are made available for fractional ownership.
The platform contains technical details, reviews of potential risks and data for evaluating the individual properties. The investment in real estate is not associated with daily tasks, and the return can be achieved by rental income or an increase in value of the property.
According to the government forecasts, the tokenization of real estate could achieve a value of up to 60 billion AED – the equivalent of $ 16 billion -, which corresponds to about 7 % of the total real estate transactions in Dubai. The program is part of the more comprehensive Dubai Real Estate Sector Strategy 2033, which aims to increase transparency, promote innovations and increase the global competitiveness of the real estate market.
The Dubai @Land_Department forecasts an AED 60 billion ($16B) tokenized real estate market by 2033, capturing 7% of total property transactions
https://t.co/taU0Ana5bJ
— Reece Merrick (@reece_merrick) May 26, 2025
Matt Ong, CEO of CTRL Alt, confirmed that the infrastructure was developed with long -term scalability. As CNF reports, the XRP Ledger was also selected due to its reliability and skills to transfer assets and offers a stable basis for tokenized real estate records.
The report states that the project is planning to use blockchain in the administration and describes the guidelines for the introduction of tokenization. This approach contributes to the protection of investors, updates legislation and improves the necessary technical infrastructure.
Without the initial inclusion of cryptocurrencies, the system provides for a clear regulation and a gradual introduction. This method helps more people to participate and make it easier to buy real estate because they only need an Emirate ID of the VAE.
Ripple, the company behind XRPl, confirmed The development publicly on social media, whereby it emphasized its participation as a technology provider and not as a direct partner. With this step, Dubai is one of the few countries worldwide in which the public sector blockchain uses directly to register ownership documents.
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