Dubai has taken a significant step towards transforming real estate ownership and investment through a groundbreaking initiative. Spearheaded by the Dubai Land Department (DLD), this project, supported by the Virtual Assets Regulatory Authority (VARA), the Dubai Future Foundation, and PropTech firm PRYPCO, marks the first time a government real estate authority is using blockchain-based tokenization for official property titles. leveraging its expertise in financial engineering and blockchain integration, Ctrl Alt will be working with the DLD to create a secure, compliant framework for issuing on-chain real estate title deed tokens. The XRP Ledger (XRPL) has been chosen as the backbone of this project due to its proven reliability and efficiency in handling both digital and real-world asset transactions. The system is directly integrated with Dubai’s traditional property registry, facilitating a synchronized and transparent connection between on-chain tokens and the existing title deed system. 2033, the initiative is expected to contribute to the growth of a tokenized real estate market in Dubai valued at AED 60 billion ($16 billion). This signifies that 7% of all real estate transactions will be based on this technology. The project has been launched under the Real Estate Evolution Space (REES) initiative, making it the first of its kind in the Middle East.