- Dubai Land Department launches tokenized real estate using XRP Ledger.
- Aims to tokenize $16 billion in assets by 2033.
- Fractional property ownership starting at $540.
Dubai has introduced the first government-backed tokenized real estate platform in the MENA region, utilizing the XRP Ledger for the blockchain infrastructure.
This project marks a crucial step in real estate digitization, potentially reshaping asset accessibility and boosting Dubai’s status in blockchain innovation.
Dubai Sets $16 Billion Real Estate Tokenization Goal
The Dubai Land Department partners with Prypco and Ctrl Alt to launch a pioneering real estate framework. Utilizing the XRP Ledger ensures secure and transparent digital property transactions.
Initially, the project seeks to digitize 7% of Dubai’s real estate market by 2033. Prypco Mint facilitates fractional investment, starting at AED 2,000.
Fractional Real Estate Ownership at $540 Investable
The platform could redefine property investment, allowing anyone to engage with real estate through affordable fractional ownership. This initiative could stimulate market liquidity and participation.
The strategic integration with Dubai’s land registry ensures regulatory compliance, possibly setting a precedent for global markets. This initiative highlights Dubai’s role in digital asset innovation. “Dubai Land Department (DLD), Government Body, ‘Publicly, DLD references its ongoing ambition to digitize 7% of Dubai’s real estate market by 2033 and reinforce Dubai’s role as a leader in regulated digital asset innovation.'” – Source:
Dubai’s Model Ties to Official Land Registry
Unlike prior attempts, Dubai’s effort uniquely synchronizes with an official land registry , addressing common regulatory hurdles. Similar ventures historically faced slower adoption due to such complexities.
Dubai’s model could foster broader implementation of real estate tokenization, contingent on addressing regulatory frameworks. Success may enhance the global adoption of real-world asset crypto models.
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