Dubai Launches Phase Two for Tokenized Property Trading
- Dubai starts curated secondary trading so tokenized deeds can move on XRPL rails.
- Some 7.8M Phase One tokens gain resale access under DLD and VARA governance rules.
- Ctrl Alt issues ARVA management tokens so on-chain records match official registries.
Dubai has moved into the next stage of its real estate tokenization strategy as Ctrl Alt and the Dubai Land Department launched Phase Two of the Real Estate Tokenization Project Pilot. The new phase enables controlled secondary-market trading of tokenized property assets within a regulated framework. It follows an initial pilot that tokenized ten properties valued at more than $5 million and issued 7.8 million tokens now eligible for resale.
Controlled Secondary Market Trading Begins
Ctrl Alt and the Dubai Land Department introduced secondary trading within a supervised pilot environment. The move allows holders of tokens from Phase One to resell them through the project’s official distribution platform. Trading operates under regulatory oversight to maintain alignment with land registry processes.
During Phase One, the partners tokenized ten properties representing AED 18.5 million in value. They issued approximately 7.8 million ownership tokens tied to those assets. Now, these tokens can move within a controlled resale environment.
The secondary trading phase seeks to test market efficiency and operational readiness. It also aims to strengthen transparency, governance, and investor protections. All transactions will continue to run on the XRP Ledger and remain secured by Ripple Custody.
Ctrl Alt serves as the tokenization infrastructure partner for the initiative. The company minted and issued the original title deed ownership tokens during the first stage. It now deploys the technical framework that supports secondary transfers.
On-Chain Integration and Regulatory Structure
Ctrl Alt integrates directly with Dubai Land Department systems. This integration allows property title deeds to move, transfer, and remain recorded on-chain. The system ensures that ownership records stay synchronized with official registries.
All secondary market transactions are executed through the Ctrl Alt tokenization engine. The company also plans to issue Asset-Referenced Virtual Asset management tokens to enable regulated transfers. Both ownership tokens and ARVA management tokens will remain recorded on-chain.
The structure creates a single and immutable ownership record. Ctrl Alt operates as a licensed Virtual Asset Service Provider. It holds the first issuer license from VARA and also maintains a broker-dealer license.
Robert Farquhar, CEO of MENA at Ctrl Alt, said the collaboration demonstrates what government and institutional innovation can achieve together. He stated that native tokenization reaches full potential when assets move efficiently after issuance. He added that regulated secondary trading supports that outcome and sets a benchmark for on-chain asset issuance and management.
Matt Acheson, Chief Product Officer at Ctrl Alt, explained that the team built a secondary infrastructure that serves the broader ecosystem while meeting DLD and VARA governance requirements. He said Ctrl Alt engineered a framework that enables dual operation of ARVA management tokens and ownership tokens on-chain. He noted that the company manages technical complexity so distribution platforms such as PRYPCO can deliver fractional real estate experiences without building their own tokenization infrastructure.
As Dubai advances this framework, one question arises: will regulated secondary trading accelerate broader adoption of tokenized real estate assets?
Related: Dubai Regulator Bans Privacy Coins in DIFC From Jan. 12
Broader Tokenization Developments
The initiative forms part of Dubai’s wider digital asset strategy. The collaboration between government bodies and licensed infrastructure providers reflects a coordinated regulatory approach. It also signals continued experimentation within a defined pilot structure.
In parallel developments, World Liberty Financial announced plans to tokenize loan revenue interests tied to Trump International Hotel & Resort in the Maldives. The firm will work with Securitize, Inc. and DarGlobal PLC on the project. The private placement will target verified accredited investors under U.S. securities exemptions.
The offering will provide fixed returns linked to loan-related income from the resort’s development. The project aligns with WLFI’s broader strategy to structure and distribute branded tokenized real-world asset products.
