Dubai Land Department and Ctrl Alt launch secondary market for real estate tokenization
ChainCatcher News, according to official sources, tokenization infrastructure provider Ctrl Alt has announced the launch of the second phase of its Dubai real estate tokenization project pilot in collaboration with the Dubai Land Department, which introduces controlled secondary market trading functionality for tokenized real estate assets.
During the pilot phase, a total of ten properties were tokenized, with a combined value exceeding $5 million. Approximately 7.8 million tokens issued during the pilot phase can now be resold in a controlled secondary market environment, thereby expanding access and liquidity in the Dubai real estate market.
The secondary trading phase aims to assess market efficiency and operational readiness, while also enhancing transparency, governance, and investor protection. Transactions will be conducted within the regulatory pilot framework of the project distribution platform to ensure transaction integrity and alignment with existing land registration processes. All on-chain transactions during this phase will continue to be executed on XRPL and secured by Ripple Custody.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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