The Dubai Land Department (DLD) has partnered with Ctrl Alt to launch a groundbreaking real estate tokenization project powered by blockchain technology. This initiative, backed by the Dubai Virtual Assets Regulatory Authority (VARA) and the Dubai Future Foundation, aims to tokenize property titles using XRP Ledger’s blockchain and the PRYPCO Mint platform. With a minimum investment threshold of 2,000 dirhams (approximately $545), this marks the first government-led real estate blockchain tokenization project in the Middle East. This initiative is part of Dubai’s ‘Real Estate 2033 Strategy,’ which aims to create a 60 billion dirham market valued entirely in tokenized assets by 2033. The technology provider, Ctrl Alt, boasts a successful track record with over $295 million in assets already tokenized and holds relevant licenses from VARA.