Real Estate Tokenization Initiatives Progress in Maldives and Dubai
Details emerged this week regarding real estate tokenization plans from Dubai's Land Department and a Maldives hotel project connected to Trump.
Organizations operating in the archipelagic Maldives and Dubai are progressing with real estate development initiatives utilizing tokenization technology, representing a combined value of millions of dollars.
This past Friday saw an announcement from the Dubai Land Department regarding the launch of phase two in its real estate tokenization pilot initiative. This development comes after approximately $5 million in Dubai real estate underwent tokenization, which enabled the resale of roughly 7.8 million tokens.
Ctrl Alt, the tokenization infrastructure partner supporting the pilot initiative and holding a Virtual Asset Service Provider license in Dubai, will be responsible for issuing "Asset-Referenced Virtual Asset management tokens" designed to enable token transfers on secondary markets.
As stated by Ctrl Alt, the XRP Ledger will serve as the platform for recording all onchain transactions related to the real estate tokens, with Ripple Custody providing security measures.
In a May 2025 forecast, the Dubai Land Department estimated that the tokenization initiative could generate approximately $16 billion by 2033, representing roughly 7% of the jurisdiction's complete property transaction volume.
Industry specialists have noted that Dubai's combination of a thriving real estate market and cryptocurrency-friendly regulatory framework has positioned the emirate as a standout among global jurisdictions.
Maldives hotel development with Trump connections also pursuing tokenization
Several days prior to Ctrl Alt's announcement, real estate developer DarGlobal and World Liberty Financial, a cryptocurrency firm backed by US President Donald Trump alongside his sons, revealed their intentions to tokenize the development phase of a resort bearing the Trump brand in the Maldives.
Financial technology firm Securitize will participate as a partner in the tokenization agreement.
"We definitely see this as taking over the way other projects are being funded," DarGlobal CEO Ziad El Chaar told Cointelegraph, adding:
"[Tokenization] will open the door to many more investors, who would like to take part in investing in real estate but don't have access today."
The deal was unveiled by World Liberty during a cryptocurrency-focused event held at Trump's Mar-a-Lago residence on Wednesday.
The event's guest list featured traditional finance executives such as Goldman Sachs CEO David Solomon, representatives from the cryptocurrency sector including Coinbase CEO Brian Armstrong, along with Senators Ashley Moody and Bernie Moreno.