Dubai and Maldives Lead Tokenized Real Estate Charge

The concept of tokenized real estate is gaining traction in Dubai and the Maldives, as developers and regulators look to increase liquidity and investor access in property markets.

Dubai's Land Department has launched a second phase of its pilot program, which aims to tokenize $16 billion worth of property by 2033. The program uses a governance and settlement framework built by Ctrl Alt to issue Asset-Referenced Virtual Asset management tokens intended for secondary-market trading.

The use of blockchain technology and on-chain transactions provides a transparent and efficient way to record property transfers, reducing the need for intermediaries and increasing the speed of settlement. This could help to unlock liquidity in markets where property is often illiquid and access is constrained.