Dubai Launches Regulated Secondary Market for Tokenized Real Estate on XRP Ledger

Dubai is accelerating its push into blockchain-powered property investment as the Dubai Land Department (DLD) and tokenization firm Ctrl Alt unveil a regulated secondary market for real estate-backed tokens. The initiative enables investors to resell fractional ownership stakes in tokenized Dubai properties, marking a significant milestone in the emirate’s broader real estate tokenization strategy.

Approximately 7.8 million tokens representing fractional ownership in ten Dubai properties—valued at around $5 million—are now eligible for trading within a controlled market environment. Transactions will be executed through a regulated distribution platform, recorded on the XRP Ledger blockchain, and safeguarded by Ripple Custody. This infrastructure is designed to ensure secure settlement, transparent ownership records, and compliance with local regulations.

The launch forms part of Dubai’s long-term vision to become a global hub for tokenized real estate. By converting traditional property deeds into blockchain-based digital tokens, the DLD aims to streamline property transfers, reduce administrative friction, and improve access to fractional property investment. While blockchain technology promises greater efficiency and transparency, industry reports have cautioned that regulatory fragmentation and limited secondary market liquidity could slow widespread adoption.

Despite being a small segment of the overall property sector, the tokenized real estate market is projected to expand rapidly. Deloitte estimates that $4 trillion worth of global real estate could be tokenized by 2035, growing at an annual rate of 27%.

Dubai’s roadmap targets the tokenization of 7% of its real estate market—equivalent to approximately $16 billion—by 2033. The initial phase involved launching a platform developed with Prypco and Ctrl Alt to tokenize property deeds on the XRP Ledger. The newly introduced secondary market represents phase two of the pilot, focusing on testing trading infrastructure, investor protection mechanisms, and alignment with existing property laws.

To ensure regulatory compliance, the tokens are paired with Asset-Referenced Virtual Assets (ARVAs), which govern trading eligibility and conditions. This framework guarantees that all transactions remain compliant while being accurately reflected in Dubai’s official property registry, reinforcing trust in blockchain-based real estate investment.