- Dubai real estate tokens enter regulated secondary trading phase
- Ripple executive confirms XRP Ledger property market expansion
- Dubai Land Department advances blockchain-based property ownership framework
Tokenized real estate in Dubai has officially moved into a new trading phase on the XRP Ledger, marking a significant step in the emirate’s structured rollout of blockchain-based property ownership. Reece Merrick, a senior executive at Ripple, disclosed the development in a recent post on X, where he outlined how the Dubai Land Department has progressed the real estate tokenization initiative into its second operational stage.
According to Merrick, phase two introduces controlled secondary market trading for tokenized property assets that were previously issued during the pilot program, thereby allowing eligible investors to resell fractional ownership stakes within a regulated and monitored framework. This transition shifts the initiative from a limited testing environment into a structured liquidity phase designed to expand participation while maintaining oversight.
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Pilot Results and Phase Two Secondary Trading
The project builds on an earlier pilot program that tokenized 10 properties with a combined valuation exceeding $5 million, creating a foundation for blockchain-based representation of tangible real estate assets within Dubai’s property market. During that pilot phase, approximately 7.8 million digital tokens were issued to represent fractional ownership interests in those properties, and these tokens are now cleared for resale under the newly introduced secondary trading structure.
According to details shared about the initiative, authorities structured the secondary market mechanism to test operational readiness in a live but controlled environment, while reinforcing governance standards, transparency requirements, and investor protection measures. By permitting resale within an approved framework, regulators can monitor transaction flows and evaluate compliance performance without opening unrestricted market activity.
Integration With Land Registry and Custody Infrastructure
Dubai launched the tokenization project in collaboration with Ripple Custody and Ctrl Alt, a tokenization infrastructure provider that integrated its engine directly into the emirate’s land registry processes, thereby linking blockchain records with official property documentation. Through this integration, title deeds can be issued, managed, and transferred on-chain via the XRP Ledger, ensuring that digital representations align with legally recognized ownership records.
All transactions connected to the project are recorded on the XRP Ledger and secured through Ripple Custody’s digital asset infrastructure, which supports asset protection and verifiable on-chain documentation. With the Dubai Land Department actively participating and infrastructure partners facilitating custody and token issuance, the initiative has progressed beyond its pilot stage into a monitored liquidity expansion phase.
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