• Dubai takes next step to make real estate flips instant in $16 billion tokenization plan Dubai Land Department and Ctrl Alt move to the next phase of real estate tokenization project, enabling the resale of property tokens. • What to know: Over $5 million in tokenized Dubai real estate becomes tradable on a controlled secondary market. • The XRP Ledger-based tokens are backed by title deeds, with trades synced to Dubai’s land registry and supported by Ripple Custody. • The project is part of Dubai’s broader plan to tokenize $16 billion in property by 2033. • The Dubai Land Department (DLD) and tokenization firm Ctrl Alt unveiled a secondary market for real estate-backed tokens, enabling the resale of $5 million in fractional property ownershipin an announcement on Friday. • Roughly 7.8 million tokens tied to ten Dubai properties are now eligible for trading within a controlled market environment.
Article Summaries:
- Dubai Land Department (DLD) and tokenization firm Ctrl Alt have launched a controlled secondary market for real‑estate tokens, allowing the resale of about $5 million in fractional property ownership. Roughly 7.8 million tokens tied to ten Dubai properties are now tradable on a regulated platform built on the XRP Ledger and secured by Ripple Custody, with trades synced to Dubai’s land registry. This move marks the second phase of Dubai’s $16 billion tokenization roadmap, which aims to tokenize 7 % of the city’s real‑estate market by 2033. While blockchain rails promise faster settlement and clearer ownership records, regulators warn that limited liquidity and uneven oversight could constrain the market’s growth.
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