Latest news with #RealEstateTokenisationProject
Arabian Post
4 days ago
- Business
- Arabian Post
Ripple Partners Ctrl Alt for Dubai Tokenisation Drive
Ripple has formalised a partnership with UAE-based tokenisation platform Ctrl Alt to deliver institutional-grade digital asset custody services as part of a landmark initiative by the Dubai Land Department to digitise property ownership using blockchain infrastructure. The agreement will enable Ctrl Alt to leverage Ripple's custody solution to store and manage tokenised property title deeds on the XRP Ledger, as Dubai intensifies its push to integrate advanced digital frameworks into its real estate sector. The project marks a significant stride in DLD's broader strategy to streamline property transactions and increase market transparency by replacing conventional title documentation with blockchain-native digital representations. Ripple's institutional custody platform, designed for banks and financial institutions, will play a central role in securing and scaling the digital assets underlying Dubai's real estate tokenisation programme. Ripple's solution will ensure regulatory compliance, operational efficiency, and asset security as property titles are issued and exchanged through blockchain mechanisms. ADVERTISEMENT The announcement positions Ripple as a key player in the UAE's drive toward regulated digital asset ecosystems. The partnership also represents Ripple's first custody deployment in the UAE, expanding its global digital asset custody network into the Middle East and further solidifying its presence across EMEA, Asia Pacific, and Latin America. Ctrl Alt, which had disclosed its participation in the DLD project earlier, is building tokenisation infrastructure tailored for real-world assets such as real estate. The firm will integrate Ripple's technology to facilitate the issuance, transfer, and management of tokenised property deeds while ensuring institutional-grade security standards. The Real Estate Tokenisation Project aims to transform Dubai's property registry system by offering a fully digital framework that eliminates physical documentation and manual recordkeeping. Through the initiative, the DLD intends to increase efficiency in property ownership transfers, reduce fraud risks, and create a foundation for smart contract-enabled real estate solutions. By leveraging the XRP Ledger's speed and cost efficiency, the project also seeks to attract global investors and developers to participate in tokenised real estate offerings governed by transparent, immutable ledger protocols. Ripple's expansion into the UAE's digital asset space follows its broader global strategy to deliver enterprise-grade blockchain tools tailored to financial infrastructure, a focus that has intensified as global regulators and institutions begin adopting tokenisation at scale. Ripple's digital custody division — established through its acquisition of Metaco in 2023 — has emerged as a core offering, providing secure storage infrastructure for tokenised assets in both public and permissioned blockchain environments. Metaco's digital asset custody platform, which now underpins Ripple's institutional offering, was originally designed to meet the requirements of global banks and has been adopted by several financial institutions in Europe and Asia. Its integration with Ripple's payment and liquidity tools enables a seamless experience for enterprises managing digital asset portfolios alongside tokenisation and cross-border payment rails. ADVERTISEMENT Ripple's custodial framework offers support for a wide range of tokenised assets, including stablecoins, real-world assets, and CBDCs. It provides multi-tier security, granular permission controls, and compliance features needed for institutional applications. The company's leadership has highlighted tokenisation as a core theme in the evolution of financial infrastructure, predicting that trillions of dollars worth of real-world assets will migrate to blockchain ecosystems in the coming decade. Ctrl Alt's involvement in the DLD-led project comes as Dubai cements its role as a global testbed for blockchain innovation, with a supportive regulatory regime, ambitious smart city initiatives, and a growing appetite for Web3 integration. The company has built its platform to allow regulators, issuers, and investors to interact within a compliant digital asset ecosystem. Its participation in the project is expected to open the door for additional applications of tokenisation beyond real estate, including commodities, equities, and infrastructure. Dubai's real estate market, historically characterised by high-value transactions and global investor interest, is seen as an ideal candidate for tokenisation. By converting ownership documents into digital tokens recorded on a blockchain, authorities aim to offer fractional ownership models, enhance liquidity, and enable secondary market trading. The shift could also reduce costs and settlement times, while allowing retail and institutional investors to access real estate markets with lower capital thresholds. Ripple's role in the project is expected to be pivotal in meeting security, governance, and compliance requirements for digital custody. The partnership strengthens Ripple's position as a go-to infrastructure provider for tokenisation use cases and reflects its strategic intent to deepen engagement in jurisdictions with progressive digital asset frameworks.
Khaleej Times
20-05-2025
- Business
- Khaleej Times
UAE developer inks world's largest real estate tokenisation deal
In the world's largest real-world asset (RWA) tokenisation initiative to date, MAG, a leading real estate developer in the UAE, has signed a $3 billion tokenisation agreement with MultiBank Group, the world's largest financial derivatives institution based in Dubai, and Mavryk, a leading blockchain innovator. The partnership will bring MAG's high-value real estate developments — The Ritz-Carlton Residences, Dubai, Creekside, which is part of the Keturah Resort, and Keturah Reserve — onto the blockchain, making them available to global investors via fully regulated RWA marketplace. Once launched, holders of the RWA assets will be able to earn yield distributed daily on the platform. On March 19, the Dubai Land Department (DLD) launched the pilot phase of the Real Estate Tokenisation Project, which seeks to diversify property ownership by allowing multiple investors to co-own a single property through tokenised real estate assets. Real estate tokenisation transforms real estate assets into digital tokens using blockchain technology. Each asset is divided into shares based on an investor's budget and financial strategy, enabling fractional property ownership. The initiative highlights the imminent launch of $MBG, the utility token at the core of MultiBank's next-generation digital finance ecosystem. The $MBG token will power access, staking, fee payments, and platform engagement, positioning it as the infrastructure layer behind institutional-grade digital asset offerings. The initial tokenisation of $3 billion is just the beginning. The platform is built to scale up to $10 billion in assets, setting the stage for a new era of programmable ownership and compliant digital investing — with $MBG at its foundation. As part of the agreement, MAG will provide its premium real estate inventory for tokenisation, while Mavryk will deliver the blockchain infrastructure to support on-chain asset issuance and DeFi integrations. MultiBank Group will oversee regulatory compliance, secondary market liquidity, and platform governance — all reinforced by the $MBG token's multi-layered utility. Talal Moafaq Al Gaddah, Senior Executive Vice Chairman of MAG, said: 'At MAG, we have always been driven by excellence and a passion for shaping the property landscape of tomorrow. Partnering with MultiBank Group marks a milestone in broadening access to high-value developments and unlocking liquidity via blockchain, while preserving uncompromising standards of transparency and stakeholder protection.' 'This isn't just a real estate deal — it is a flagship use case for the $MBG token. By enabling seamless access to $3B in tokenised property, MultiBank becomes the bridge between regulated finance and next-generation investment infrastructure. This is how we make Web3 real.' said Zak Taher, Founder and CEO of Alex Davis, Founder and CEO of Mavryk, said: 'This collaboration represents a paradigm shift in how real-world assets are accessed and traded. By leveraging our advanced tokenisation and DeFi infrastructure, we are transforming landmark developments into borderless, liquid investment opportunities. Together with MAG and MultiBank Group, we are laying the technological foundation for a transparent, scalable future where institutional-grade assets are available at the click of a button.' With a buyback-and-burn model tied to platform revenues, and staking rewards designed to incentivise long-term engagement, MultiBank Group provides tangible value for both retail and institutional users. From discounted fees and VIP tiers to launchpad access and real-world asset exposure, the $MBG token is engineered to reward participation and drive ecosystem demand.
Arabian Post
24-04-2025
- Business
- Arabian Post
Dubai Enforces Stricter Oversight on Property Tokenisation Amidst $16 Billion Market Projection
Dubai's Virtual Assets Regulatory Authority and the Land Department have jointly issued a warning against unauthorised promotion of the Real Estate Tokenisation Project pilot, cautioning that entities not approved by both agencies could face fines and market bans for illegal virtual asset activities. The initiative, launched under the Real Estate Innovation Initiative , aims to transform property ownership by converting real estate assets into digital tokens recorded on blockchain technology. This approach allows for fractional ownership, enabling multiple investors to co-own a single property through tokenised real estate assets. The DLD anticipates that this groundbreaking initiative will drive significant growth in the real estate tokenisation sector, with its market value projected to reach AED 60 billion by 2033, representing 7% of Dubai's total real estate transactions. The pilot phase is being implemented in collaboration with VARA and the Dubai Future Foundation through SandBox Real Estate. As part of this initiative, the DLD organised a specialised workshop on 'Real Estate Tokenization,' bringing together leading proptech companies, including top global firms specialising in real estate asset tokenisation. Eng. Marwan Ahmed Bin Ghalita, Director General of the DLD, emphasised that real estate tokenisation is a revolutionary tool driving fundamental change in the real estate sector. 'By converting real estate assets into digital tokens recorded on blockchain technology, tokenisation simplifies and enhances buying, selling, and investment processes,' he stated. This aligns with the DLD's vision to achieve global leadership in real estate investment, leverage technology to develop innovative real estate products, and foster an ecosystem that supports real estate innovation. See also UAE Emerges as Global Leader in Cryptocurrency Adoption The Real Estate Tokenisation Project aims 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. Additionally, the project strengthens Dubai's position as a regional and global hub for virtual assets, enhancing its competitiveness on both local and international levels. The DLD's initiative reflects a broader trend of integrating blockchain into traditional markets, placing real-world assets like bonds, funds, and credit on crypto rails. The digital token versions of real-world assets can be fractionally owned and transferred on the blockchain, lowering the entry barriers for investors and increasing market liquidity. Unlike crowdfunding, which pools investor funds for property purchases, tokenisation provides a more structured ownership model. Arabian Post – Crypto News Network
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.
