Ctrl Alt has been appointed as the official tokenization partner for the Dubai Land Department’s (DLD) newly launched Real Estate Tokenization Project. The initiative—developed in collaboration with the Virtual Assets Regulatory Authority (VARA), the Dubai Future Foundation, and PRYPCO—marks the first time a public real estate registration authority in the Middle East has implemented blockchain-based tokenization of property title deeds.
As the tokenization provider, Ctrl Alt has worked closely with DLD to create a secure and compliant framework for digitizing real estate ownership. The project includes structuring, minting, and placing title deed tokens on-chain, with the XRP Ledger (XRPL) selected as the blockchain infrastructure due to its proven reliability in tokenizing real-world assets.
Ctrl Alt has also integrated its platform with DLD’s traditional property registration systems to synchronize digital and physical ledgers. This coordination supports a fully transparent and compliant tokenization process aligned with local regulations.
The initiative is being delivered under the Real Estate Evolution Space Initiative (REES), and aims to broaden access to property investment through fractional ownership. Using PRYPCO’s Mint platform—now live at mint.prypco.com—EID holders can invest in tokenized real estate with a minimum starting amount of AED 2,000.
Matt Ong, CEO and Founder of 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.”
The project is expected to support the growth of a tokenized real estate market in Dubai valued at AED 60 billion ($16 billion) by 2033, representing approximately 7% of total property transactions in the emirate.
This initiative forms part of Dubai’s Real Estate Sector Strategy 2033 and aligns with the broader Dubai Economic Agenda (D33), both of which prioritize the use of digital technologies to increase competitiveness, attract global investment, and modernize core industries.