D
ubai's Land Department has launched the Middle East's first government-backed tokenization of property title deeds, using the XRP Ledger as its settlement layer. The pilot project, developed under the Real Estate Evolution Space Initiative (REES), aims to reshape how domestic real-estate assets are bought, sold, and financed.

    RippleX welcomed the choice, citing the XRPL's decade-long reliability and stability in tokenizing digital and real-world assets. Ctrl Alt, a tokenization specialist, has integrated its infrastructure with DLD databases, allowing for instant updates of government ledgers while preserving legal finality.

    During the pilot phase, UAE-ID holders can subscribe to fractional title tokens, each representing a direct economic interest in a registered property. Transactions are settled in dirhams, but ownership is recorded as bearer tokens on XRPL. The project targets cumulative issuance of AED 60 billion ($16 billion) by 2033.

    The initiative advances two key agendas: the Real Estate Sector Strategy 2033 and the Dubai Economic Agenda (D33), which mandate digital-first reforms to attract capital and sharpen regulatory competitiveness. Oversight is distributed between DLD, VARA, and Ctrl Alt, ensuring that deed tokens meet provenance tests.

    XRPL's selection gives the ledger its highest-profile government integration to date, with features like finality in seconds and negligible network fees critical for scaling fractional real-estate markets. Ctrl Alt has a track record of tokenizing $295 million in alternative assets, but warns prospective investors about the risks associated with virtual assets.

    If successful, Dubai would become the world's first jurisdiction to maintain mirror records of every property transfer on a public blockchain in real time, compressing settlement cycles and widening access beyond high-net-worth buyers. The pilot is live, with early adopters able to subscribe through PRYPCO Mint.