Ctrl Alt and Dubai Land Department Go Live with Tokenized Real Estate, Forecasts $16B Market by 2033
DUBAI, UAE, May 25, 2025 /PRNewswire/ -- Leading tokenization infrastructure platform, Ctrl Alt has been announced as the tokenization partner for Dubai Land Department's (DLD) pioneering Real Estate Tokenization Project. Launched today, the initiative in collaboration with the Virtual Assets Regulatory Authority (VARA), the Dubai Future Foundation and PRYPCO, marks a monumental step for asset tokenization and the future of property investment in the Emirate.
As the designated tokenization provider for the project, Ctrl Alt brings deep expertise in financial engineering and digital asset infrastructure. 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.
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.
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.'
This strategic initiative aligns with the objectives of Dubai's Real Estate Sector Strategy 2033 and the broader Dubai Economic Agenda (D33), both of which prioritize the adoption of digital solutions to boost economic competitiveness, attract global investment and modernize key sectors.
About Ctrl Alt
Ctrl Alt is a leading tokenization infrastructure platform, combining blockchain technology with expert financial engineering to deliver tailored, compliant solutions in the alternative assets space. As of May 1, 2025, Ctrl Alt has tokenized over $295 million in assets, spanning real estate, private credit, funds, litigation finance and more.
For further information, visit www.ctrl-alt.co or contact [email protected].
Ctrl Alt Solutions DMCC is licensed by the Dubai Virtual Assets Regulatory Authority (reference: VL/25/05/002) as a Broker-Dealer and as an Issuer. Our principal office is located at Level No 12, Uptown Tower, Dubai.
Media contact:
Lawrence Chiu
[email protected]
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CNET
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- CNET
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Best homebuying apps Photo Gallery 1/1 Best overall Redfin Redfin has all the standard features you should expect in a homebuying app — great photographs, calculators to estimate your monthly payments and the ability to schedule a tour. It also has a unique tool: a comprehensive risk factor report. In collaboration with First Street Foundation, Redfin helps buyers understand flooding potential, air quality in the area, excessive heat and potential threats from wind. As more homeowners weigh weather-related concerns, this can be a helpful gauge of whether your investment will come with high insurance costs and maintenance expenses to protect your property. There aren't really any drawbacks to Redfin, although it's important to note that the app's 'Start an offer' tool doesn't help you submit an offer instantly. Instead, it will send your note to the Redfin agent listed on the same page. How it stacks up Listings : 5 out of 5 for urban areas (the data covers approximately 80% of the country, so you will be out of luck in certain parts of the country) : 5 out of 5 for urban areas (the data covers approximately 80% of the country, so you will be out of luck in certain parts of the country) Photos : 5 out of 5 (also includes video tours for some properties) : 5 out of 5 (also includes video tours for some properties) Map : 5 out of 5 : 5 out of 5 Calculator : 5 out of 5 : 5 out of 5 Historical information : 4 out of 5 : 4 out of 5 Future forecast: 5 out of 5 (risk Factor report for climate-related issues) ... Show more Photo Gallery 1/1 Best for finding down-payment assistance Zillow Zillow's listings have everything you'll want to know: how long the home has been on the market, how its estimated value has fluctuated over the past few years, how the area's schools stack up and how long it'll take you to get to work each day. The feature we really love here, though, is a quick way to check if you might be eligible for down-payment assistance programs by answering questions about your income, profession, etc. One notable drawback is a lack of public tax history. Our review of a number of listings on Zillow had a 'tax history is unavailable' disclaimer, while property tax estimates were included on Redfin and a number of other apps on this list. How it stacks up Listings : 5 out of 5 (more than 135 million homes) : 5 out of 5 (more than 135 million homes) Photos : 5 out of 5 : 5 out of 5 Map : 5 out of 5 : 5 out of 5 Calculator : 5 out of 5 : 5 out of 5 Historical information : 2 out of 5 (no public tax history on many listings) : 2 out of 5 (no public tax history on many listings) Future forecast: 1 out of 5 (Zillow's Zestimate tool is a helpful tracker on market value trending patterns, but there is no data about climate-related issues) ... Show more Photo Gallery 1/1 Best for understanding noise levels Home isn't just where the heart is: It's also where you sleep. noise map feature will help you get a sense of whether your family will need earplugs. It's a unique tool that sets this apart from most of the other homebuying apps on our list ( has a 'Sound Score' tool but not a map). app also includes a flood risk tool similar to part of Redfin's report, although it's not as robust. One big selling point of is a combination of three different property value estimates, which provides a holistic look at how different providers view fair market value. How it stacks up Listings : 5 out of 5 (no data available on overall database size, but performs well in urban areas) : 5 out of 5 (no data available on overall database size, but performs well in urban areas) Photos : 5 out of 5 : 5 out of 5 Map : 5 out of 5 : 5 out of 5 Calculator : 3 out of 5 ('What can you buy?' takes you to a web-based lender inquiry) : 3 out of 5 ('What can you buy?' takes you to a web-based lender inquiry) Historical information : 4 out of 5 : 4 out of 5 Future forecast: 4 out of 5 ... Show more Photo Gallery 1/1 Best for getting to know the neighborhood Trulia Most homebuying apps include some data on how easy it is to access public transit and how walkable/bikeable a neighborhood is, but Trulia takes that local expertise to a new level. How dog-friendly is the area? Are the streets well-lit? Will you feel safe walking alone after dark? Do people decorate for the holidays? These are just a few of the questions you'll know based on other Trulia users' feedback. If part of your home search involves knowing how friendly your neighbors are, this is a good place to start. How it stacks up Listings : 5 out of 5 (Trulia is owned by Zillow, so the database should be identical) : 5 out of 5 (Trulia is owned by Zillow, so the database should be identical) Photos : 5 out of 5 : 5 out of 5 Map : 5 out of 5 (also links to a 'shop and eat' map that displays retail and dining in the area) : 5 out of 5 (also links to a 'shop and eat' map that displays retail and dining in the area) Calculator : 5 out of 5 : 5 out of 5 Historical information : 3 out of 5 : 3 out of 5 Future forecast: 1 out of 5 ... Show more Photo Gallery 1/1 Best for behind-the-scenes information has a mile-long list of details about the property and its history. Listings include deed history and mortgage history (what a current owner still owes and the rate they're paying). There's also a combination of information about schools in the area from Niche and GreatSchools that helps you understand how much teachers earn, where most high school graduates go on to college and more. One note: If you're an Android user, you're likely better off with another option on this list. While we found the iOs experience good (minus the lack of pictures), Android users have shared a lot of complaints about the app. How it stacks up Listings : 5 out of 5 : 5 out of 5 Photos : 5 out of 5 (just swipe or click; there isn't a call-out on the number of photos that you'll see on other apps, which can make you assume there is only one image) : 5 out of 5 (just swipe or click; there isn't a call-out on the number of photos that you'll see on other apps, which can make you assume there is only one image) Map : 5 out of 5 : 5 out of 5 Calculator : 3 out of 5 (some other apps have a simple bar to adjust your down payment and other variables, but this app requires specific inputs) : 3 out of 5 (some other apps have a simple bar to adjust your down payment and other variables, but this app requires specific inputs) Historical information : 5 out of 5 : 5 out of 5 Future forecast: 1 out of 5 ... Show more Photo Gallery 1/1 Best for finding fixer-uppers foreclosure listings. While they won't all be in rough shape, it's safe to assume that someone who stopped paying the mortgage also stopped caring for the home the way they should. app is solely geared toward helping you find upcoming auctions so you can add them to your calendar. There's also a remote bid tool if you create an account (you can start to browse listings without sharing any of your data, which we think is a big perk). If you're interested in turning the property into a rental for some passive income, the app offers rental estimates, too. How it stacks up Listings/database size : N/A (More than 15,000 auctions per year in all 50 states) : N/A (More than 15,000 auctions per year in all 50 states) Photos : 2 out of 5 (although, it's important to note that most distressed property listings don't have many photos) : 2 out of 5 (although, it's important to note that most distressed property listings don't have many photos) Map : 5 out of 5 : 5 out of 5 Calculator : N/A (most listings are cash only) : N/A (most listings are cash only) Historical information : 5 out of 5 : 5 out of 5 Future forecast: 5 out of 5 (includes rental estimates) ... Show more Photo Gallery 1/1 Best for collaborating with your agent Zenlist Zenlist doesn't have the mass brand awareness of Zillow or Redfin, and that's because it's not available to everyone. This is an invite-only app, so you'll need to be working with an agent who uses it first. If you do, though, this is a fantastic tool for someone who is a bit further along in the home search process. Instead of just browsing, you and your agent can trade notes in the app, and you can flag listings you really love. Plus, you'll be one of the first to know when a new home hits the market, as Zenlist's systems update every 2 minutes. The only drawback is that Zenlist is currently limited to just under 20 metro areas. So, if you're looking outside of those locations, this app probably isn't your best bet. How it stacks up This tool is unique due to its closed-door, invitation-only model. Given its limited availability, we are not evaluating it in comparison with other apps. However, those who use it rate it highly. ... Show more Photo Gallery 1/1 Best for buying without an agent Opendoor If you want to do more than browse for homes on your phone, your best bet is Opendoor. The company is an iBuyer, meaning it buys homes from sellers to resell them for a profit to individuals. 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What's the most important feature of a homebuying app? The adage 'a picture is worth a thousand words' rings true with homebuying apps: 85% of buyers say that photos are the most useful feature for browsing homes. It's the easiest way to tell if you should invest the time and energy to go see the property in person. Can I buy a house without seeing it in person? Yes. It's called buying a house 'sight unseen,' and it happens a lot when a market is especially competitive. According to Redfin , 63% of buyers made offers sight unseen in 2020. However, there are plenty of risks involved. Online photos can mask issues lurking beneath the surface. Make sure you hire a professional home inspector to take a look at the property. How many houses should I see before making an offer? There's no right or wrong answer when it comes to the number of homes you should see before submitting an offer to buy one. You might stumble upon your dream home with the first property you see, or you might browse online and attend dozens of open houses over multiple months. According to the most recent data from the National Association of Realtors , most buyers see five homes before buying one. How we test homebuying apps We used these apps just like you would as a prospective homebuyer. We scoured listings, scrolled through photos, zoomed in and out on their maps and crunched the numbers on their calculators to determine how helpful homebuying apps really can be. Since a lot of homebuying apps run together, we paid extra attention to unique features that set them apart for specific goals of gathering information about properties. We also considered reviews from customers on both the Apple and Google Play stores for mobile phone versions. It's important to note that some of these apps didn't fare that well for their tablet version, although you're likely better off using your phone anyway. 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Forward-Looking Statements This press release contains statements that constitute 'forward-looking statements' within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of present or historical fact included in this press release, regarding the Company's strategy, future operations, prospects, plans and objectives of management, are forward-looking statements. When used in this Form 8-K, the words 'could,' 'should,' 'will,' 'may,' 'believe,' 'anticipate,' 'intend,' 'estimate,' 'expect,' 'project,' 'initiatives,' 'continue,' the negative of such terms and other similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. These forward-looking statements are based on management's current expectations and assumptions about future events and are based on currently available information as to the outcome and timing of future events. The forward-looking statements speak only as of the date of this press release or as of the date they are made. The Company cautions you that these forward-looking statements are subject to numerous risks and uncertainties, most of which are difficult to predict and many of which are beyond the control of the Company. In addition, the Company cautions you that the forward-looking statements contained in this press release are subject to risks and uncertainties, including but not limited to, expectations related to the investigation of short selling or potential naked short selling, including the Company's analysis, its ability to take appropriate corrective action, or any potential investigations by regulators; any future findings from ongoing review of the Company's internal accounting controls; additional examination of the preliminary conclusions of such review; the Company's ability to secure additional capital resources; the Company's ability to continue as a going concern; the Company's ability to respond in a timely and satisfactory matter to the inquiries by Nasdaq; the Company's ability to regain compliance with the Bid Price Requirement; the Company's ability to regain compliance with Nasdaq Listing Rules; the Company's ability to become current with its SEC reports; and those additional risks and uncertainties discussed under the heading 'Risk Factors' in the Form 10-K/A filed by the Company with the SEC on April 22, 2025, and the other documents filed, or to be filed, by the Company with the SEC. 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CONTACT: For more information, please visit or contact our media relations team at press@