Dubai’s Department of Lands and Property (DLD) and Ctrl Alt have opened a secondary market for mortgage-backed real estate tokens, enabling a $5 million worth of fractional real estate ownership resale. Approximately 7.8 million tokens are linked to ten properties in Dubai, and can now be traded within a regulated market. Transactions occur on a regulated distribution platform, are recorded on the XRP Ledger blockchain, and are secured by Ripple Custody. This project is part of Dubai’s broader plan to tokenize $16 billion of real estate by 2033.
The first milestone of this plan has begun, with Prypco and Ctrl Alt developing a platform to push the tokenization of property title deeds. Last year, a plan was announced to tokenize about 7% of Dubai’s real estate market—roughly $16 billion—by 2033. Tokenized secondary-market trades on the XRP Ledger are the second phase of the pilot, aiming to test market infrastructure, investor protection, and alignment with existing real estate laws. The Prypco and Ctrl Alt platform pushing tokenization of property title deeds enables on-chain ownership certificates to be issued and managed in conjunction with the DLD system.
The tokens are linked to ARVA to regulate who may trade under which conditions. This structure ensures that all transactions are accurately reflected in Dubai’s official land registry and comply with regulations. This effort is part of Dubai’s ambitious plan to become a global hub for real estate tokenization. The plan aims to convert real estate ownership into blockchain-based, tradable tokens.
Proponents say blockchain-based systems can streamline ownership records and payments. However, regulatory imbalances remain a barrier, and limited secondary trading could constrain liquidity. The tokenized real estate market remains a small portion of the global real estate market, but rapid growth is expected over the next decade. Deloitte projects real estate tokenization reaching $4 trillion by 2035, with a 27% CAGR.
Dubai’s Department of Lands and Property (DLD) and Ctrl Alt have opened a secondary market for mortgage-backed real estate tokens, enabling a $5 million fractional ownership resale. About 7.8 million tokens are linked to ten properties in Dubai and are now tradable within a regulated market. Transactions occur on a regulated distribution platform, are recorded on the XRP Ledger, and are secured by Ripple Custody.
As part of Dubai’s expansive plan to tokenize $16 billion of real estate by 2033, the first milestone has begun. Prypco and Ctrl Alt are building a platform to push tokenization of property title deeds, with last year’s announcement stating roughly 7% of Dubai’s real estate market—about $16 billion—would be tokenized by 2033. Tokenized trades on the XRP Ledger intend to test market infrastructure, investor protection, and alignment with existing real estate law as the project moves forward.
The platform enables on-chain ownership certificates to be issued and managed through the DLD system, with tokens tied to ARVA to regulate who may trade under which conditions. This structure ensures all transactions are accurately reflected in Dubai’s official land registry and comply with regulations. The initiative underscores Dubai’s ambition to become a global hub for real estate tokenization, transforming ownership into blockchain-based, tradable tokens.
While supporters argue the technology can streamline ownership records and payments, regulatory imbalances and limited secondary liquidity remain challenges. Deloitte projects real estate tokenization reaching $4 trillion by 2035, with a compound annual growth rate of 27%.
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