Dubai Land Dept, Ctrl Alt launch Tokenized Real Estate on XRPL

Dubai has officially stepped into the future of property ownership. In a first-of-its-kind move for the Middle East, the Dubai Land Department (DLD) has launched a tokenized real estate investment project in partnership with Ctrl Alt, a company that specializes in digital asset infrastructure.

The project was launched on Sunday and is being rolled out with support from the Virtual Assets Regulatory Authority (VARA), the Dubai Future Foundation, and PRYPCO. It introduces a new model of property ownership where investors can buy fractional stakes in real estate, recorded and verified on a public blockchain.

Ctrl Alt has taken on the role of tokenization partner, working alongside DLD to build a secure system that places property title deeds on the blockchain. The platform of choice is the XRP Ledger (XRPL), known for its speed, low costs, and track record of handling digital assets for over a decade.

What makes this project significant is the way it connects Dubai’s official property records with the new blockchain-based system. Ctrl Alt has integrated directly with DLD’s infrastructure, ensuring that traditional records and digital tokens remain synchronized. That means if you buy a share of a property digitally, the change is officially reflected in government records.

Through this system, ownership can be divided into smaller, affordable portions. Anyone holding an Emirates ID can now invest in real estate with as little as AED 2,000. The platform, PRYPCO Mint, is already live and available to investors at mint.prypco.com.

The initiative is part of Dubai’s broader push toward digital transformation under its Real Estate Sector Strategy 2033 and the Dubai Economic Agenda (D33). Both plans emphasize innovation, global competitiveness, and opening up traditional sectors like real estate to a wider group of investors.

According to projections tied to the project, tokenized real estate could represent up to AED 60 billion (roughly $16 billion) of Dubai’s total property transactions by 2033. That would account for around 7% of the market.

Matt Ong, the founder and CEO of Ctrl Alt, commented on the launch: “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. 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.”

For now, the project is being seen as a pilot, but one with serious potential to change how people invest in and own property in Dubai and beyond.