Dubai, UAE – The Dubai Land Department (DLD) has officially launched a pioneering Real Estate Tokenization Project in collaboration with leading tokenization platform Ctrl Alt.
This initiative, also involving the Virtual Assets Regulatory Authority (VARA), the Dubai Future Foundation, and PRYPCO, marks a significant step forward for asset tokenization and the future of property investment in the Emirate.
Ctrl Alt is serving as the designated tokenization partner, leveraging its expertise in financial engineering and digital asset infrastructure. According to the announcement, the DLD and Ctrl Alt have worked together to develop a secure and compliant framework for structuring, minting, and placing real estate title deed tokens on-chain. The project utilizes the XRP Ledger (XRPL), a decentralized blockchain recognized for its stability in tokenizing and exchanging digital and real-world assets.
A key aspect of the project is Ctrl Alt’s direct integration with the DLD, synchronizing digital and traditional real estate ledgers. This ensures coordination between the on-chain system and the conventional property registration system, aiming for a fully integrated and transparent process that aligns with local regulations and boosts investor confidence.
Developed under the Real Estate Evolution Space Initiative (REES), this project represents the first instance in the Middle East where a government real estate registration authority has implemented public blockchain-based tokenization of property title deeds. The DLD aims to lead the way toward a more accessible, transparent, and efficient real estate market, enabling fractional ownership, expanding investor participation, and enhancing operational efficiency.
Fractional ownership is enabled through the PRYPCO Mint real estate platform, which is now live at mint.prypco.com.
This allows multiple investors to co-own a single property with a low minimum investment starting at AED 2,000. EID holders are currently eligible to participate.
The initiative is projected to significantly impact Dubai’s property market, potentially contributing to an AED 60 billion ($16 billion) tokenized real estate market by 2033, which would represent about 7% of Dubai’s total property transactions.
Matt Ong, CEO and Founder of Ctrl Alt, highlighted the collaboration, stating, “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.”
This strategic move aligns with Dubai’s broader economic goals, including the Real Estate Sector Strategy 2033 and the Dubai Economic Agenda (D33), both of which prioritize digital adoption to enhance economic competitiveness, attract global investment, and modernize key sectors.
Ctrl Alt is a leading tokenization infrastructure platform that combines blockchain technology with financial engineering for compliant solutions in alternative assets.
As of early May 2025, the company had tokenized over $295 million in assets across various categories including real estate, private credit, funds, and litigation finance.
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