Dubai Real Estate Tokenization on the XRP Ledger

Each property issued onto the XRP Ledger is split into multiple tranches representing different ownership classes and treasury slices. The token count above reflects the full series; the active count is the subset currently held by investor wallets.

In May 2025 the Dubai Land Department launched the MENA region's first government-backed real estate tokenization platform on the XRP Ledger. The initiative is operated through three layers:

• Dubai Land Department (DLD) — the government registrar that records title deeds and stamps each tokenized property as an official record.
• Ctrl Alt Solutions DMCC — the regulated tokenization issuer (Dubai VARA license VL/25/05/002, FCA-licensed in the UK) that mints the title deed tokens directly on the XRPL.
• PRYPCO Mint — the consumer-facing platform where retail investors can browse and buy fractional shares of Dubai properties starting at AED 2,000 (~$545).

The project is targeting an AED 60 billion (~$16 billion) tokenized real estate market by 2033, equivalent to ~7% of Dubai's annual property transaction volume. Phase Two introduced a secondary market enabling token-to-token resale of property positions.

The XRPL was selected over other chains for several technical reasons that matter specifically to regulated real-world assets:

• Decade of zero-downtime — XRPL has run continuously since 2012 without a chain halt, a critical requirement for a national land registry.
• Native trust line authorization — the issuer can require explicit approval before any wallet receives a token, enforcing KYC at the protocol level.
• XLS-39 Trust Line Clawback — the clawback amendment lets a regulated issuer revoke tokens from a wallet (e.g. on a court order or sanction event) without compromising the rest of the ledger. The Ctrl Alt issuer wallet has this flag enabled.
• Sub-second settlement, fee burn — no gas fees, no MEV, transactions cost a fraction of a cent.
• Ripple custody — the underlying property assets are held by Ripple as custodian under a partnership agreement with DLD.

The Ctrl Alt issuer wallet is publicly identifiable via xrpscan.com's authoritative directory:

• Verified name: Ctrl Alt
• Domain: ctrl-alt.co
• Twitter: @CtrlAltCo
• Account inception: May 2025 (matches the public DLD launch announcement)
• Settings: requireAuthorization: true, defaultRipple: true, allowTrustLineClawback: true

Always cross-check the issuer wallet address before trustlining a token claiming to be PRYPCO real estate. Several scam wallets have used vanity addresses (e.g. rQUANTUM…) to mint fake "Dubai Real Estate" tokens that have nothing to do with the official project. XRPL.to flags these as Scam.