- Dubai becomes the first Middle Eastern city to launch government-backed real estate tokenization.
- The new platform allows investors to buy fractional shares in Dubai property, starting from $545.
- The project uses blockchain technology, with property deeds recorded on the XRP Ledger.
- Current access is limited to UAE ID holders, with future plans for global expansion.
- Dubai officials project tokenized property could reach $16 billion in market value by 2033.
Dubai Land Department has launched a pilot platform that brings real estate tokenization to the city, making Dubai the first in the Middle East to implement this government-backed innovation. The platform, built in partnership with Prypco and Ctrl Alt Solutions, allows investors to purchase fractional ownership of real estate, with entry points beginning at $545. This effort aims to make property investment more accessible.
The program registers property deeds on blockchain technology using the XRP Ledger. According to Dubai Land Department, the process is supervised by the Virtual Assets Regulatory Authority (VARA) and the Central Bank of the UAE. At this stage, transactions must be made in UAE Dirhams, not cryptocurrencies, and participation is limited to those holding a UAE ID. The platform plans to open to global investors in later phases.
Prypco operates a well-known real estate app in Dubai focused on expanding investment opportunities. Ctrl Alt Solutions, a UK-based tokenization company, has already managed the tokenization of over $295 million in assets across several industries as of May 2025. Ctrl Alt Solutions has integrated its technology with Dubai’s traditional property registry, ensuring both digital and physical ownership records align. Officials say this system creates a transparent process that matches local regulatory requirements.
Dubai has used blockchain for real estate since 2019, when it released a mortgage registration system. The tokenization initiative aligns with Dubai’s Real Estate Sector Strategy 2033 and the Dubai Economic Agenda, which seek to boost economic competitiveness with digital tools. Dubai Land Department cites estimates that up to 7% of Dubai’s real estate market, equivalent to $16 billion, may be tokenized by 2033.
As other Gulf Cooperation Council countries track Dubai’s advancements, the head of Qatar’s financial center recently raised the idea of tokenizing the country’s high-rise buildings. For more information about the Dubai initiative, visit the Dubai Land Department or the Prypco Mint platform.
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