Dubai Launches Blockchain-Based Real Estate Tokenization on XRP Ledger, Opening Global Access to Property Investment
Dubai has taken a bold step toward reshaping the global real estate market by launching the Middle East’s first government-backed property tokenization initiative on the XRP Ledger. The move, led by the Dubai Land Department (DLD) in collaboration with blockchain firm Ctrl Alt, brings fractional digital ownership of real estate to a global audience—paving the way for broader access and enhanced transparency in property investment.
The project is a key part of Dubai’s long-term vision to digitize its land registry system using blockchain technology. Through the new PRYPCO Mint platform, investors from around the world can purchase fractional ownership of Dubai properties for as little as AED 2,000 (approximately $544). This lowers the entry barrier significantly, allowing a more diverse group of investors to take part in Dubai’s thriving property market.
According to projections, tokenized real estate transactions in Dubai could reach AED 60 billion (around $16 billion) by 2033, accounting for 7% of all property deals. The DLD’s active involvement ensures robust regulatory oversight from the outset, reinforcing the project’s credibility and appeal to both individual and institutional investors.
Unlike earlier blockchain experiments in real estate, Dubai's model emphasizes compliance, security, and scalability. By aligning property deeds with blockchain records, the initiative guarantees transparency—allowing investors to verify ownership and history of assets instantly. Regulators, meanwhile, retain oversight through blockchain-integrated systems that provide real-time access to transactions.
“This is a major milestone,” said Matt Ong, CEO of Ctrl Alt. “We’ve worked closely with the DLD to build the infrastructure that allows their partners to offer fractional real estate to a global audience. Dubai’s leadership in financial technology sets a high standard, and this launch signals a powerful step forward.”
At the heart of the project lies the XRP Ledger, a decentralized public blockchain known for its speed, low transaction costs, and resilience. Each transaction is verified on a distributed network, which not only enhances security but also ensures a transparent, immutable record of property ownership. Settlements can occur in near real-time, offering a marked improvement over the traditionally sluggish and paper-heavy process of property transfer.
Tools like Livenet, a public blockchain explorer, allow continuous monitoring of the XRP Ledger’s performance. This transparency supports trust among regulators, developers, and investors, reinforcing Dubai’s commitment to building a secure, future-ready real estate ecosystem.
The tokenization model also introduces much-needed liquidity to the property market. Historically, commercial real estate has been an illiquid asset class, out of reach for smaller investors. Fractional ownership changes that, allowing for more dynamic participation and, eventually, potential secondary trading on regulated digital platforms.