Phase Two allows the resale of 7.8 million property tokens under a regulated pilot framework.
Dubai: The emirate’s drive to digitise property ownership has entered its next phase with the launch of regulated resale trading for tokenised real estate assets, transitioning from pilot testing to active market operations.
The Dubai Land Department and tokenisation platform Ctrl Alt confirmed the launch of Phase Two of the Real Estate Tokenisation Project Pilot, allowing previously issued property ownership tokens to be traded on a regulated secondary market.
In the first phase, ten properties worth over $5 million were tokenised, with around 7.8 million tokens now eligible for resale under the new phase.
From issuance to active trading
The secondary trading phase marks the move from proof-of-concept to real-market operations, emphasizing liquidity, transparency, and operational readiness within a carefully regulated framework.
All transactions will be conducted on approved distribution platforms and fully integrated with official land registry procedures, ensuring ownership records remain accurate and secure.
The platform continues to run on blockchain infrastructure, with all transactions recorded on the XRP Ledger and protected through regulated custody solutions.
Strengthening digital ownership infrastructure
Ctrl Alt, the project’s tokenisation infrastructure partner, developed the framework that allows property title deeds to be issued, managed, and transferred digitally while staying fully synchronized with government registries.
The company will also roll out asset-referenced management tokens to facilitate regulated resale, creating a unified digital record of ownership and transaction history.
“We are proud to collaborate with the Dubai Land Department and VARA on Phase Two of the project, showcasing what is possible when governments and institutional-grade innovation come together to build market-leading digital infrastructure,” said Robert Farquhar, CEO for MENA at Ctrl Alt. “Native tokenisation only reaches its full potential when assets can move efficiently after issuance, and secondary market trading is essential to that outcome.”
He added that the initiative sets a global benchmark for digital real estate systems.
“By creating robust tokenisation infrastructure that enables the regulated transfer of tokenised land title deeds, Dubai is establishing a worldwide reference point for how assets can be issued, traded, and managed on-chain.”
The secondary trading phase is designed to evaluate market efficiency, investor behaviour, and regulatory safeguards, all under strict oversight during the pilot stage.
“Our goal was to create secondary market infrastructure that is efficient for the entire ecosystem while maintaining the controls and governance required by the DLD and VARA,” said Matt Acheson, Chief Product Officer at Ctrl Alt. “To achieve this, Ctrl Alt developed a sophisticated technical framework to enable the seamless on-chain operation of both ARVA management tokens and ownership tokens.”
He added that the platform also streamlines distribution for partners.
“We handle the underlying complexity of tokenisation technology so that distribution platforms like PRYPCO and others can provide smooth fractional real estate experiences to their users, without needing to build or manage the tokenisation infrastructure themselves.”
The rollout underscores Dubai’s wider strategy to integrate regulated digital infrastructure into property markets while expanding investment access through fractional ownership models that remain fully aligned with official land registration systems.
