Dubai Land Department Advances Real Estate Tokenization with Secondary Market Pilot

Dubai's Land Department (DLD) has initiated Phase II of its Real Estate Tokenization Project, launching a controlled secondary market for approximately 7.8 million property tokens. The pilot aims to evaluate market efficiency, operational readiness, and governance frameworks while protecting investor rights.

The MOVE follows Phase I's collaboration with Prypco Mint, which introduced tokenized deeds under Dubai’s Virtual Assets Regulatory Authority (VARA). DLD projects tokenized assets will represent 7% of Dubai’s real estate market by 2033—a $16 billion valuation—with Prypco Mint positioned as a key infrastructure provider.

In May 2025, Prypco Mint became the region’s first licensed tokenization platform, issuing blockchain-based property ownership certificates via Ctrl Alt’s technology. The platform recently facilitated funding for Park Ridge Tower, marking another milestone in MENA’s digitized real estate sector.