UK, Ireland, and UAE based Ctrl Alt is the tokenization partner for Dubai Land Department aimed to tokenize real estate using XRP Ledger Blockchain. The initiative which is being carried out alongside VARA ( Dubai’s Virtual Assets Regulatory Authority), the Dubai Future Foundation, and PRYPCO seeks to tokenize real estate to develop the future of property investment in Dubai through fractional ownership.The initiative is projected to contribute to the growth of an AED 60 billion ($16 billion) tokenized real estate market by 2033, equivalent to 7% of Dubai’s total property transactions.

Ctrl Alt, is a B2B is a B2B infrastructure provider that makes structuring and investing in alternative asset classes efficient, cost-effective, and accessible. Launched in 2022 by Matt Ong (formerly of Morgan Stanley and Credit Suisse) to open up access to the growing world of alternative assets, Ctrl Alt has since become the leading expert in the sector. Through Ctrl Alt, businesses can structure and distribute private equity, infrastructure, private credit, films and more. This is achieved via their sophisticated technology stack which includes tokenization, that streamlines existing investment structures.

The Ctrl Alt team is composed of financial and product experts including alumni from Morgan Stanley, Credit Suisse, UBS and Revolut.

As the designated tokenization provider for the project, The DLD and Ctrl Alt have worked closely together on the development of a secure and compliant tokenization framework, focusing on structuring, minting and placing real estate title deed tokens on-chain. The XRP Ledger (XRPL), a decentralized layer 1 blockchain renowned for its decade-long reliability and stability in tokenizing and exchanging digital and real-world assets, has been selected as the blockchain of choice for the project.

Additionally, Ctrl Alt has integrated directly with the DLD to synchronize both digital and traditional real estate ledgers, ensuring coordination between the on-chain and the conventional property registration system. This enables a fully integrated and transparent tokenization process that aligns with local regulations and enhances investor confidence.

The project has been developed under the Real Estate Evolution Space Initiative (REES) and marks the first time in the Middle East that a government real estate registration authority has implemented a public blockchain-based tokenization of property title deeds. With this move, the DLD is leading the charge toward a more accessible, transparent and efficient real estate market, enabling fractional ownership, broadening investor participation and enhancing operational efficiency.

By leveraging native tokenization, ownership of real estate has been fractionalized, allowing multiple investors to co-own a single property. This is achieved through the PRYPCO Mint real estate platform, which is now live and allows investors to participate with a starting minimum investment of AED 2,000. EID holders are able to participate at mint.prypco.com.

Matt Ong, CEO and Founder, Ctrl Alt said, “We’ve been working closely with the DLD on this project for some time, and we’re delighted to be taking this major step together to bring real estate investment to a wider audience. As experts in the space, we are proud to create the tokenization infrastructure that enables DLD’s partners to offer fractional real estate to investors. Dubai’s leadership in embracing next-generation financial technologies is truly world-class and this project is a powerful signal of what’s to come. We’re thrilled to launch this pilot and continue building with DLD in the months ahead.”