Dubai’s Land Department (DLD) has officially launched its first real estate tokenization platform, aiming to digitize $16 billion worth of property on the XRP Ledger by 2033. This government-backed initiative marks a major leap toward integrating blockchain technology into the region’s booming real estate sector.
Prypco Mint Enables Fractional Property Ownership
The new platform, called Prypco Mint, was developed in partnership with fintech startup Prypco and blockchain infrastructure provider Ctrl Alt. It enables users to purchase fractional ownership in Dubai real estate, with investments starting from as low as 2,000 dirhams (approximately $540).
The title deeds are tokenized on the XRP Ledger, making property ownership more transparent, efficient, and accessible. These blockchain records are fully synchronized with the Dubai Land Department’s official registry, ensuring compliance and legal reliability.
XRP Ledger Powers Dubai’s Real Estate Future
The use of the XRP Ledger offers key benefits like low transaction costs, fast settlement, and high scalability. The platform’s backend, provided by Ctrl Alt, is directly integrated with DLD’s government systems for real-time validation and syncing of records.
This initiative reflects a broader push by Dubai to become a global leader in blockchain adoption. The tokenization effort is part of an official roadmap targeting 7% of Dubai’s real estate market — or around $16 billion — to be tokenized by 2033.
Regulatory Oversight and Global Expansion Plans
Currently, the platform supports only dirham transactions and is limited to UAE ID cardholders, but the Dubai Land Department confirmed plans to open access globally and expand platform capabilities. Zand Digital Bank serves as the financial partner, while oversight is handled by UAE Central Bank, VARA (Virtual Assets Regulatory Authority), and the Dubai Future Foundation through its Real Estate Sandbox.
The Tokenization Trend: A Trillion-Dollar Opportunity
Dubai’s move aligns with projections by Ripple, BCG, and McKinsey, which estimate that tokenized real-world assets (RWAs) could reach a market size of $18.9 trillion by 2033. Real estate, long plagued by friction and lack of transparency, is now positioned to become a core pillar of blockchain utility.
“Tokenization of real estate is not just innovation—it’s the future of property investment,” said one DLD official during the launch.