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 (licensed by Dubai's virtual assets regulator, VARA) 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:

• A long record — XRPL has run since 2012; its one notable stop, on 4 February 2025, lasted 64 minutes after ledger 93,927,174.
• 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.
• Settlement in seconds, fee burned — a ledger closes every 3–5 seconds, nobody can bid for a place in it, and a transaction costs a fraction of a cent.
• Ripple custody — Ctrl Alt stores the title-deed tokens with Ripple’s custody technology (Ripple, July 2025).

The Ctrl Alt issuer wallet is named in xrpscan.com's account directory:

• Issuer address: rDgoZHy4SLPs4jhJZqkyaXX4iEsEUkCAVp
• Name in the directory: Ctrl Alt; X: @CtrlAltCo
• Created: 19 May 2025 (the month of the public launch)
• Settings on the ledger now: Require Auth, Default Ripple, Allow Trust Line Clawback

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.