Tokenized Real Estate Projects Advance in Dubai and the Maldives

Entities in Dubai and the Maldives are moving ahead with tokenized real estate projects worth millions of dollars combined. The Dubai Land Department said it will launch the second phase of a real estate tokenization pilot after about $5 million worth of property in Dubai was tokenized, enabling the resale of roughly 7.8 million tokens.

The pilot’s infrastructure partner, Ctrl Alt — licensed as a Virtual Asset Service Provider in Dubai — will issue “Asset-Referenced Virtual Asset management tokens” to facilitate secondary-market transfers. Ctrl Alt says all onchain transactions will be recorded on the XRP Ledger and secured by Ripple Custody.

The Dubai Land Department predicted in May 2025 the tokenization project could contribute about $16 billion by 2033, equivalent to 7% of the jurisdiction’s total property transactions. Some experts have said Dubai’s real estate market and crypto-friendly regulatory environment have made the emirate stand out among other jurisdictions globally.

United Arab Emirates, Maldives, Dubai

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