Dubai has taken a significant step forward in the real estate blockchain application sector by launching Phase Two of the Real Estate Tokenization Project. Led by the Dubai Land Department in collaboration with Ctrl Alt and secured through Ripple Custody, this allows for controlled secondary trading of tokenized real estate on the XRP Ledger.
Building on the successful pilot phase, Phase Two expands the tokenization of 10 high-value properties worth over $5 million, divided into 7.8 million tokens representing fractional ownership. These tokens are now tradable within a regulated marketplace, enhancing liquidity and accessibility for investors.
The project focuses on transparency, governance, and investor protection, with on-chain data fully synchronized with Dubai’s land registry system. This helps Dubai establish itself as a global leader in real asset tokenization.
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