Leading tokenization infrastructure platform, Ctrl Alt, has been announced as the tokenization partner for Dubai Land Department’s (DLD) a pioneering Real Estate Tokenization Project. Launched recently, the initiative in collaboration with the Virtual Assets Regulatory Authority (VARA), the Dubai Future Foundation, and PRYPCO, marks a monumental step for asset tokenization and the future of property investment in the Emirate.
As the designated tokenization provider for the project, Ctrl Alt brings deep expertise in financial engineering and digital asset infrastructure. The DLD and Ctrl Alt have worked closely together on the development of a secure and compliant tokenization framework, focusing on structuring, minting and placing real estate title deed tokens on-chain. The XRP Ledger (XRPL), a decentralized layer 1 blockchain renowned for its decade-long reliability and stability in tokenizing and exchanging digital and real-world assets, has been selected as the blockchain of choice for the project. Additionally, Ctrl Alt has integrated directly with the DLD to synchronize both digital and traditional real estate ledgers, ensuring coordination between the on-chain and the conventional property registration system. This enables a fully integrated and transparent tokenization process that aligns with local regulations and enhances investor confidence.
The project has been developed under the Real Estate Evolution Space Initiative (REES) and marks the first time in the Middle East that a government real estate registration authority has implemented a public blockchain-based tokenization of property title deeds. With this move, the DLD is leading the charge toward a more accessible, transparent and efficient real estate market, enabling fractional ownership, broadening investor participation and enhancing operational efficiency.
By leveraging native tokenization, ownership of real estate has been fractionalized, allowing multiple investors to co-own a single property. This is achieved through the PRYPCO Mint real estate platform, which is now live and allows investors to participate with a starting minimum investment of AED 2,000. EID holders are able to participate on the official website.
The initiative is projected to contribute to the growth of an AED 60 billion (USD 16 billion) tokenized real estate market by 2033, equivalent to 7% of Dubai’s total property transactions.
Matt Ong, CEO and Founder, Ctrl Alt said, “We’ve been working closely with the DLD on this project for some time, and we’re delighted to be taking this major step together to bring real estate investment to a wider audience. As experts in the space, we are proud to create the tokenization infrastructure that enables DLD’s partners to offer fractional real estate to investors. Dubai’s leadership in embracing next-generation financial technologies is truly world-class and this project is a powerful signal of what’s to come. We’re thrilled to launch this pilot and continue building with DLD in the months ahead.”
This strategic initiative aligns with the objectives of Dubai’s Real Estate Sector Strategy 2033 and the broader Dubai Economic Agenda (D33), both of which prioritize the adoption of digital solutions to boost economic competitiveness, attract global investment and modernize key sectors.
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