Key Highlights
- Ctrl Alt and Dubai Land Department launched Dubai’s Phase Two real estate tokenization that lets investors trade property tokens securely on the blockchain.
- It builds on its $5 million pilot stage’s success, where the 7.8 million tokens issued then are now eligible for resale in a controlled secondary market environment.
- All on-chain transactions are secured by Ripple Custody and will continue to be executed on XRPL.
Dubai is taking real estate innovation to the next level with Phase Two of its Real Estate Tokenization Project. Led by the Dubai Land Department (DLD) and supported by Ctrl Alt and Ripple, the new phase lets investors buy and sell tokenized properties on the XRP Ledger (XRPL) in a controlled, regulated way.
As per the announcement, the project builds on a successful pilot, where 10 properties worth over AED 18.5 million (approx. $5 million) were turned into around 7.8 million digital tokens. Investors can now trade these tokens while enjoying full transparency, clear governance, and strong protections—all within the official land registry system. Ripple Custody also ensures every tokenized property is securely managed and all the on-chain transactions in this phase will continue to be executed on the XRP Ledger.
Secondary market and technical infrastructure
Phase Two of the project brings a big upgrade: token holders can now easily sell their assets on a secondary market. This is made possible by Ctrl Alt, the team behind the tokenization technology, using their Asset-Referenced Virtual Asset (ARVA) management tokens.
Both ownership and management information are recorded on the blockchain, providing a secure and reliable record of who owns what for investors. This enables people to easily buy and sell tokenized properties.
Robert Farquhar, CEO of Ctrl Alt, said, “Tokenization only works at its best when assets are able to move freely once they are issued, and the ability to trade on a secondary market is key.” Matt Acheson, Ctrl Alt’s CPO, added, “We enable the difficult tech involved in tokenization so that platforms can deliver seamless, fractional real estate experiences.”
This enables fast and easy buying, selling, and management of tokenized properties, all while being fully compliant with DLD and VARA regulations.
Reece Merrick, Managing Director, Middle East & Africa at Ripple said, “This is massive step for real-world asset adoption in Dubai.”
Dubai’s broader digital asset vision
Dubai is also expanding beyond real estate and integrating digital assets into people’s lives. For example, Dubai Insurance introduced the payment of car, health, and home insurance using cryptocurrencies through a digital wallet. The digital wallet has been created using Zodia Custody and ensures that the payment is instant and free of bank charges.
Furthermore, the financial regulator in Dubai also recently amended the crypto regulations in the Dubai International Financial Centre (DIFC). The amended regulations ensure that investors are protected while ensuring a fair market is maintained.
All of this shows that Dubai is serious about using technology, smart regulations, and public infrastructure to build smooth, modern digital systems, while also positioning itself as a global leader in crypto adoption and asset tokenization.
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