Dubai Adopts XRP Ledger for Official Real Estate Tokenization

• Dubai tokenizes real estate with XRP Ledger
• XRPL drives institutional real estate tokenization
• Project attracts 3 local investors

More than 3.000 investors have already signed up to the real estate tokenization program launched by the Dubai Land Department (DLD), the announcement was made by Mahmoud AlBurai, an executive at the agency, in a post on LinkedIn. The initiative, which has been in pilot phase since March 16, is the first of its kind in the MENA region (Middle East and North Africa).

The project is structured around partnerships between DLD, Prypco Mint and Ctrl Alt. Together, the entities are using blockchain technology to convert state-owned property deeds into digital assets, with a focus on fractional sales. At this stage, only Emirates Card holders, residents of the United Arab Emirates, can participate.

Despite the eligibility restrictions, public interest has exceeded expectations. According to AlBurai, the participation of regulatory bodies such as the Dubai Future Foundation, the Central Bank of the Emirates and the Virtual Assets Regulatory Authority (VARA) contributes to investor confidence.

The program aims to transform the local real estate market. DLD projects that tokenization could move up to US$16 billion by 2033, improving accessibility, traceability and transaction efficiency.

The project gained prominence when it selected Ripple’s XRP Ledger (XRPL) blockchain as the basis for issuing its tokens. The choice of the network was confirmed by AlBurai, marking a strategic advance for XRPL, which has prioritized the tokenization of real-world assets (RWA).

Ripple has been investing heavily in this area in recent years. Examples include investments in Abrdn’s tokenized fund and OpenEden’s platform with US Treasuries. In addition, the company has been granted a license to act as a payments provider by the DFSA, allowing it to integrate payment solutions with the XRPL.

With the UAE having already tokenized around $3 billion worth of real estate, the country is among the global leaders in the use of blockchain in real estate. Government backing and regulatory oversight add to the project’s credibility, especially at a time when court cases such as the Unicoin case in the United States are casting doubt on private initiatives without proven assets.