Efforts to tokenize real estate are accelerating in both Dubai and the Maldives, as regulators and developers advance blockchain-based property structures valued in the millions.

On Friday, the Dubai Land Department confirmed the launch of the second phase of its real estate tokenization pilot. The update followed the tokenization of roughly $5 million worth of property in Dubai, enabling the resale of approximately 7.8 million digital tokens linked to those assets.

The infrastructure provider for the pilot, Ctrl Alt — a licensed Virtual Asset Service Provider in Dubai — is responsible for issuing “Asset-Referenced Virtual Asset management tokens,” designed to support the transfer and trading of tokenized real estate on secondary markets. According to Ctrl Alt, all onchain activity related to these property tokens will be recorded on the XRP Ledger and secured through Ripple Custody.

The Dubai Land Department previously estimated in May 2025 that the broader tokenization initiative could contribute around $16 billion by 2033, representing roughly 7% of the jurisdiction’s total real estate transaction volume. Observers have noted that Dubai’s combination of an active property market and relatively cryptocurrency-friendly regulatory environment has helped position the emirate as a leading hub for tokenized real-world assets.

Maldives project explores tokenized real estate funding

Parallel developments have emerged in the Maldives, where real estate developer DarGlobal and crypto-focused firm World Liberty Financial — backed by US President Donald Trump and his sons — announced plans to tokenize the development phase of a Trump-branded resort. The initiative is being executed in partnership with financial technology firm Securitize, which will support the tokenization framework.

“We definitely see this as taking over the way other projects are being funded,” DarGlobal CEO Ziad El Chaar told Cointelegraph, adding: “[Tokenization] will open the door to many more investors, who would like to take part in investing in real estate but don’t have access today.”

World Liberty revealed the agreement during a crypto-focused gathering at Trump’s Mar-a-Lago property, attended by representatives from traditional finance and the digital asset sector, including Goldman Sachs CEO David Solomon, Coinbase CEO Brian Armstrong, and US Senators Ashley Moody and Bernie Moreno.

Sources:

https://www.prnewswire.com/news-releases/ctrl-alt-and-dubai-land-department-go-live-with-tokenized-real-estate-forecasts-16b-market-by-2033-302464840.html

https://cointelegraph.com/news/tokenized-real-estate-advance-dubai-maldives

https://www.ctrl-alt.co/press-releases/ctrl-alt-dld-phase-two

https://www.youtube.com/watch?v=kCp9ZneZHQc