Latest news with #RealEstateTokenisation
Gulf Business
16-07-2025
- Business
- Gulf Business
Ripple and Ctrl Alt partner on Dubai's real estate tokenisation project
Image: Supplied Ripple, a global leader in digital asset infrastructure for financial institutions, has announced a strategic partnership with Ctrl Alt, a UAE-based tokenisation infrastructure platform. The partnership will see Ctrl Alt adopt Ripple's institutional-grade digital asset custody technology to support the Dubai Land Department's (DLD) pioneering Real Estate Tokenisation Project. Under the initiative, Dubai's property title deeds will be tokenised and issued on the XRP Ledger (XRPL), with Ripple's custody solution providing secure and scalable storage for the digital assets. Ctrl Alt, which revealed its involvement in the DLD initiative last month, is Ripple's first major custody partner in the UAE — a milestone that reflects the growing regional demand for compliant digital asset infrastructure. Ripple's global custody network now spans clients across EMEA, APAC, and Latin America. 'The 'This is the first time a government real estate registration authority in the Middle East has tokenised property title deeds on a public blockchain. That the DLD has chosen the XRPL for this is really exciting and reinforces the XRPL's credentials as the blockchain of choice for serious financial use cases. We're delighted that Ctrl Alt has chosen our institutional-grade digital asset custody technology to support the delivery of this project.' Read: Ctrl Alt also recently became the first Virtual Asset Service Provider (VASP) in Dubai to be licensed for issuer-related services by the Virtual Assets Regulatory Authority (VARA). The license enables Ctrl Alt to handle the end-to-end tokenisation process — from issuance and custody to on-chain settlement and asset lifecycle management — in a fully compliant manner. 'As the tokenisation infrastructure provider for the DLD Project, Ctrl Alt brings deep expertise in financial engineering and digital asset infrastructure, so it makes sense for us to partner with Ripple to use their custody technology to support this initiative,' said Matt Ong, CEO and founder of Ctrl Alt. 'Partnering with Ripple allows us to leverage proven and trusted technology that meets the highest security and operational standards. We're excited to work with them and bring Dubai real estate investment opportunities to a wider audience.' Digital real estate transformation The DLD's tokenisation project is seen as a major milestone in digital real estate transformation. By enabling fractional ownership of property, the initiative opens doors for broader investor participation and a more inclusive, transparent, and efficient real estate market. It also reflects Dubai's ambition to remain a global innovation hub by adopting cutting-edge blockchain infrastructure. Ripple has been rapidly gaining traction in the UAE. Earlier this year, it became the first blockchain-enabled payments provider to be licensed by the Dubai Financial Services Authority (DFSA). Since then, it has secured partnerships with Zand Bank — another stakeholder in the DLD tokenisation initiative — and Mamo, which is leveraging Ripple's blockchain for cross-border payments. In June, Ripple's RLUSD stablecoin was approved by the DFSA for use within the Dubai International Financial Centre (DIFC), adding to the company's growing compliance and product suite in the region. With over 60 regulatory licenses and a decade of experience in digital assets, Ripple is increasingly being recognised for offering robust and compliant infrastructure to store, exchange, and transfer digital assets — positioning it as a trusted partner for tokenisation efforts worldwide.
Khaleej Times
10-06-2025
- Business
- Khaleej Times
Tokenised property in Dubai: Who can invest, fees, ROI; 20 questions answered
Dubai launched the pilot phase of the ' Real Estate Tokenisation Project ' last month, with the first property recording an immense demand from small investors. With just Dh2,000, UAE residents can invest in the property market through the Prypco Mint platform, which was launched by Prypco in partnership with the Dubai Land Department (DLD), the Virtual Assets Regulatory Authority (VARA), and Zand. Here is what UAE investors need to know about this new investment opportunity in Dubai's red-hot property market. 1. What is the tokenisation of the property market? Tokenisation converts real estate assets into digital tokens recorded on blockchain technology. This allows fractional ownership in premium properties. Stay up to date with the latest news. Follow KT on WhatsApp Channels. 2. What is the platform to invest? Launched by Prypco in partnership with the Dubai Land Department (DLD), licensed by the Virtual Assets Regulatory Authority (Vara), Zand Bank, Prypco Mint is the platform for investors in the pilot phase. 3. What is the minimum investment? Investors can invest from Dh2,000 onwards. 4. Who can invest? Can foreign investors invest in tokenised property? Only UAE residents holding Emirates ID cards and aged 18 and above can invest. 5. How is the token value calculated? The value of each token depends on the size and price of the property. Prypco Mint breaks down every square meter of a property into 10,000 tokens. So, a 130 sqm property is split into 1.3 million tokens. The value of a token is then calculated by dividing the purchase price of the property by the total number of tokens. So a property worth Dh2.6 million costs Dh2 per token. 6. How many tokens can one buy? A maximum of 20 per cent of the total tokens in a single property can be bought. 7. How can one buy tokens? UAE residents can invest through bank transfers or debit/credit cards. Bitcoin and other cryptocurrencies are not accepted. 8. Is there a lock-in period? If you purchased a token through Prypco Mint, no lock-in period applies. 9. What are the benefits? Some of the key benefits are low investment entry, reduced fees compared to traditional real estate transactions, diversification of portfolio with fractional investments in multiple properties and monthly rental income as well as capital appreciation of the token. 10. Do investors need to register with Prypco Mint? Yes. UAE residents are required to provide documents to register with the platform. Prypco Mint is the only platform in Dubai for such investment opportunities. More platforms are likely to be rolled out later. 11. Is there a fee for investing? According to Prypco Mint, a two per cent fee is applicable on the investment and one per cent exit fee on exiting the investment, whether it's when you sell your tokens or when the property is sold. There is also a 0.5 per cent annual management fee. On the sale of the property, a capital appreciation fee ranging up to 15 per cent is applied, based on the property's value increase, according to Prypco Mint. 12. Is there a DLD fee also? There is a two per cent DLD fee for registering the tokenised title deed in your name, which is 50 per cent lower than the standard DLD fee. 13. How can investors exit their investment? Investors have two options for exiting their investment: 1. Selling their tokens on the Prypco Mint Marketplace once the lock-in period expires. They can withdraw the proceeds to their bank account. 2. If the majority of investors vote to sell the property, it will be sold. The proceeds, after relevant costs are deducted, will be distributed to investors based on their ownership share, and they can withdraw their share of the proceeds to their bank account. 14. How much return should investors expect? According to Prypco Mint, return on investment could range between 8 to 12 per cent per year. 15. Will the owner receive monthly rental income? Yes. Buyers will receive monthly income if the property is rented out. But if the token is sold before the monthly income is distributed, investors will not receive the income. 16. Who will pay for damages or major changes? If there's a material change, like the need for major repairs that could affect the property's value or returns, Prypco will notify all investors. They will then have the opportunity to vote on how to handle the situation. A decision requires a majority vote of 51 per cent of the investors. 17. Is it secure to invest in tokenised property? It is a highly secure and safe investment as all the owners are registered on the blockchain technology. 18. How many tokenised properties have been listed and fully funded? The first tokenised property listed on Prypco Mint was fully funded within a day. It was a Damac Properties unit, priced at Dh2.4 million compared to the market price of Dh3 million. The second property will be listed on June 11, 2025. 19. What is the growth potential? It is estimated that Dubai's real estate tokenisation sector is projected to reach Dh60 billion by 2033, accounting for 7 per cent of the total real estate transactions. This shows that there is a strong growth potential. 20. Why did Dubai introduce tokenisation of the property market? The objective is to attract global technology firms and open new investment opportunities for the investor market. It seeks to diversify property ownership by allowing multiple investors to co-own a single property through tokenised real estate assets.
Gulf Insider
30-05-2025
- Business
- Gulf Insider
Dubai Takes Major Tokenised Real Estate Project
The Dubai real estate sector leading the world again as tokenised property sells out and new ownership certificate launched. Dubai Land Department has launched the world's first Property Token Ownership Certificate, following the successful sale of the first tokenised real estate project on the 'Prypco Mint' platform — licensed by VARA — within just one day of launch. This milestone further reinforces Dubai's position as a global leader in real estate innovation and digital transformation. The first project launched under the Real Estate Tokenisation Initiative attracted 224 investors, 70 per cent of whom entered Dubai's real estate market for the first time. This highlights strong investor confidence and the accessibility provided by flexible, low-cost digital solutions. Investors represented 44 nationalities, and the average individual investment amounted to AED10,714 ($2,917). As the region's first platform of its kind, the initiative continues to draw significant interest, with the waitlist exceeding 6,000 requests. This surge in demand reflects Dubai's growing appeal to new segments of global investors seeking innovative and accessible property ownership models. Dubai Land Department developed the Real Estate Tokenisation project in collaboration with the Virtual Assets Regulatory Authority (VARA) and the Central Bank of the United Arab Emirates and the Dubai Future Foundation (DFF) through the Real Estate Sandbox. It is being executed through Prypco Mint. The initiative aims to broaden the real estate investor base while enhancing transparency and accelerating transaction processes, aligning with the Dubai Real Estate Strategy 2033 goals and the Dubai Economic Agenda D33. Dubai Land Department is currently working to enable real estate developers to list their projects on the platform, further expanding the initiative's scope and unlocking new opportunities for digital property investment. Also read: Dubai Metro Blue Line Set To Ease Traffic Congestion In The City
Tahawul Tech
07-04-2025
- Business
- Tahawul Tech
DLD, VARA collaborate to boost leadership in realty and virtual assets regulation
Dubai — Following the launch of the pilot phase of the 'Real Estate Tokenisation,' one of the initiatives under the umbrella of the 'REES Real Estate Innovation Initiative,' Dubai Land Department (DLD) and the Dubai Virtual Assets Regulatory Authority (VARA) signed a collaboration agreement aimed at enhancing Dubai's global position as a leading hub for investment and innovation in the real estate sector. This agreement seeks to improve the regulatory environment related to virtual assets in real estate transactions In line with the strategic directives of the UAE and the vision of its wise leadership to position Dubai as a global hub for innovation and investment. This pioneering agreement, the first of its kind on a global scale in linking the real estate registry with property tokenisation through a governance system that enhances market liquidity and improves the efficiency of property management companies, was signed in the presence of His Excellency Marwan bin Ghalita, Director General of the Dubai Land Department, and His Excellency Helal Al Marri, Director General of the Dubai Department of Economy and Tourism. The agreement was also signed by Majid Al Marri, Executive Director of the Real Estate Registration Sector at DLD, and Matthew White, CEO of VARA. Empowering the Real Estate Sector and Virtual Asset Integration The agreement aims to enhance legal frameworks and regulations to keep pace with future developments, ensuring investor rights and compliance with evolving requirements in Dubai's investment and real estate landscape. Additionally, it focuses on increasing investment opportunities and streamlining access to Dubai's real estate market for small investors, thereby contributing to the growth and sustainability of the sector. This initiative aligns with Dubai's commitment to fostering an advanced investment environment, ensuring regulatory compliance, and safeguarding investor rights under DLD's jurisdiction in collaboration with VARA. First-of-its-kind signed agreement at a global level to link the property registry with property tokenisation through a governance system that enhances market liquidity and improves the efficiency of property management companies. The collaboration follows the launch of the pilot phase of the Real Estate Tokenisation Project by DLD, aimed at strengthening Dubai's position as a regional and global hub for virtual assets. Collaboration contributes to achieving Dubai's strategic goals for the real estate sector and supports the Dubai Economic Agenda (D33). Supporting Dubai's Strategic Goals and the D33 Agenda The collaboration is expected to play a significant role in achieving the objectives of Dubai's real estate strategy 2033 and the broader Dubai Economic Agenda (D33). The agreement aligns with D33's goal of doubling Dubai's GDP over the next decade, with the real estate sector contributing to reaching AED 1 trillion in transactions, growing by 70% in value. As Dubai experiences increasing demand for innovative real estate solutions, this agreement serves as a framework for coordinating efforts between DLD and VARA to strengthen Dubai's position as a premier investment destination. It will also facilitate pilot projects that assess and manage risks while enabling the integration of virtual assets into the real estate sector to maximise economic benefits. Advancing Digital Infrastructure and Investor Awareness The agreement also emphasises enhancing digital infrastructure in the real estate sector to meet investor needs. It includes initiatives to increase awareness and understanding of virtual asset regulations while ensuring alignment with global best practices for consumer protection and investment security. Additionally, the collaboration encourages cooperation with technology companies interested in contributing to the development of Dubai's real estate sector through virtual asset integration. Almarri said: 'This partnership reflects the future-focused innovation that is Dubai's DNA – guided by our leadership, it is engrained in the way regulatory and legislative policy makers enable the next stage of economic growth. Real Estate and Virtual Assets are key pillars of the D33 Economic Agenda D33 and by joining forces DLD and VARA will be creating the blueprint for RE 2.0 in a Decentralised Future Economy. This Collaboration Agreement seeks to champion a future-ready model that can allow for more inclusive economic participation, with legal safeguards to recognise fractionalized ownership rights. Beyond assuring market integrity, we see the provision of regulatory clarity as foundational to unlocking sustainable opportunities for GDP expansion – particularly leveraging virtual assets across the full spectrum of Real-World asset sectors.' The collaboration underscores Dubai's commitment to fostering a diverse and advanced investment ecosystem that enhances the competitiveness of the real estate sector. It also reinforces the emirate's leadership vision of building a knowledge-driven, technology-based future economy. 'This agreement marks a strategic step towards leveraging technological advancements to empower the real estate sector. By strengthening collaboration with technology companies, we aim to position Dubai as a global leader in real estate innovation. Our partnership with the Dubai Virtual Assets Regulatory Authority aligns with the objectives of the Dubai Real Estate Strategy 2033 and the Dubai Economic Agenda D33, which reinforce Dubai's global leadership in one of the most vital sectors. It also supports the priorities of this strategy, particularly in adopting the latest artificial intelligence technologies, enhancing data centralisation, and providing a seamless investment experience that meets the aspirations of investors and companies while contributing to sustainable economic growth,' added Eng. Ghalita.
Zawya
07-04-2025
- Business
- Zawya
Dubai Land Department and Dubai Virtual Assets Regulatory Authority collaborate
First-of-its-kind signed agreement at a global level to link the property registry with property tokenisation through a governance system that enhances market liquidity and improves the efficiency of property management companies. The collaboration follows the launch of the pilot phase of the Real Estate Tokenisation Project by DLD, aimed at strengthening Dubai's position as a regional and global hub for virtual assets. Collaboration contributes to achieving Dubai's strategic goals for the real estate sector and supports the Dubai Economic Agenda (D33). Dubai, United Arab Emirates – Following the launch of the pilot phase of the 'Real Estate Tokenisation,' one of the initiatives under the umbrella of the 'REES Real Estate Innovation Initiative,' Dubai Land Department (DLD) and the Dubai Virtual Assets Regulatory Authority (VARA) signed a collaboration agreement aimed at enhancing Dubai's global position as a leading hub for investment and innovation in the real estate sector. This agreement seeks to improve the regulatory environment related to virtual assets in real estate transactions In line with the strategic directives of the UAE and the vision of its wise leadership to position Dubai as a global hub for innovation and investment. This pioneering agreement, the first of its kind on a global scale in linking the real estate registry with property tokenisation through a governance system that enhances market liquidity and improves the efficiency of property management companies, was signed in the presence of His Excellency Marwan bin Ghalita, Director General of the Dubai Land Department, and His Excellency Helal Al Marri, Director General of the Dubai Department of Economy and Tourism. The agreement was also signed by Majid Al Marri, Executive Director of the Real Estate Registration Sector at DLD, and Matthew White, CEO of VARA. Empowering the Real Estate Sector and Virtual Asset Integration The agreement aims to enhance legal frameworks and regulations to keep pace with future developments, ensuring investor rights and compliance with evolving requirements in Dubai's investment and real estate landscape. Additionally, it focuses on increasing investment opportunities and streamlining access to Dubai's real estate market for small investors, thereby contributing to the growth and sustainability of the sector. This initiative aligns with Dubai's commitment to fostering an advanced investment environment, ensuring regulatory compliance, and safeguarding investor rights under DLD's jurisdiction in collaboration with VARA. Supporting Dubai's Strategic Goals and the D33 Agenda The collaboration is expected to play a significant role in achieving the objectives of Dubai's real estate strategy 2033 and the broader Dubai Economic Agenda (D33). The agreement aligns with D33's goal of doubling Dubai's GDP over the next decade, with the real estate sector contributing to reaching AED 1 trillion in transactions, growing by 70% in value. As Dubai experiences increasing demand for innovative real estate solutions, this agreement serves as a framework for coordinating efforts between DLD and VARA to strengthen Dubai's position as a premier investment destination. It will also facilitate pilot projects that assess and manage risks while enabling the integration of virtual assets into the real estate sector to maximise economic benefits. Advancing Digital Infrastructure and Investor Awareness The agreement also emphasises enhancing digital infrastructure in the real estate sector to meet investor needs. It includes initiatives to increase awareness and understanding of virtual asset regulations while ensuring alignment with global best practices for consumer protection and investment security. Additionally, the collaboration encourages cooperation with technology companies interested in contributing to the development of Dubai's real estate sector through virtual asset integration. Leadership Insights HE Helal Almarri, DG of DET and DWTCA commented: 'This partnership reflects the future-focused innovation that is Dubai's DNA – guided by our leadership, it is engrained in the way regulatory and legislative policy makers enable the next stage of economic growth. Real Estate and Virtual Assets are key pillars of the D33 Economic Agenda D33 and by joining forces DLD and VARA will be creating the blueprint for RE 2.0 in a Decentralised Future Economy. This Collaboration Agreement seeks to champion a future-ready model that can allow for more inclusive economic participation, with legal safeguards to recognise fractionalized ownership rights. Beyond assuring market integrity, we see the provision of regulatory clarity as foundational to unlocking sustainable opportunities for GDP expansion – particularly leveraging virtual assets across the full spectrum of Real-World asset sectors.' His Excellency Eng. Marwan bin Ghalita, Director General of the Dubai Land Department, stated: 'This agreement marks a strategic step towards leveraging technological advancements to empower the real estate sector. By strengthening collaboration with technology companies, we aim to position Dubai as a global leader in real estate innovation.' He added: 'Our partnership with the Dubai Virtual Assets Regulatory Authority aligns with the objectives of the Dubai Real Estate Strategy 2033 and the Dubai Economic Agenda D33, which reinforce Dubai's global leadership in one of the most vital sectors. It also supports the priorities of this strategy, particularly in adopting the latest artificial intelligence technologies, enhancing data centralisation, and providing a seamless investment experience that meets the aspirations of investors and companies while contributing to sustainable economic growth.' Commitment to a Future-Ready Investment Environment The collaboration underscores Dubai's commitment to fostering a diverse and advanced investment ecosystem that enhances the competitiveness of the real estate sector. It also reinforces the emirate's leadership vision of building a knowledge-driven, technology-based future economy.
