Press Release

Dubai, UAE – February 20, 2026 – Ctrl Alt, a leading tokenization infrastructure provider, and the Dubai Land Department (DLD) announced today the launch of Phase Two of Dubai’s Real Estate Tokenization Project Pilot, introducing controlled secondary market trading capabilities for tokenized real estate assets.

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Phase Two builds on the successful pilot stage, during which ten properties were tokenized, representing more than $5 million (AED 18.5 million) in real estate value. Approximately 7.8 million tokens issued during the pilot will now be eligible for resale within a controlled secondary market environment, expanding access and liquidity across Dubai’s real estate market.

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The secondary trading phase is designed to evaluate market efficiency and operational readiness while strengthening transparency, governance, and investor protections. Trading will take place within a regulated pilot framework on the project’s distribution platform to ensure transaction integrity and alignment with existing land registry processes. All on-chain transactions in this phase will continue to be executed on the XRP Ledger (XRPL) and secured by Ripple Custody.

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As the tokenization infrastructure partner for the project, Ctrl Alt minted and issued the original title deed ownership tokens during Phase One and will now help deploy secondary market functionality for Phase Two. Ctrl Alt is directly integrated with the DLD systems, allowing property title deeds to be issued, managed, and transferred on-chain. All secondary market transactions in this phase are executed through the Ctrl Alt tokenization engine, ensuring ownership records remain accurate and fully aligned with official registries.

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For Phase Two, Ctrl Alt will issue Asset-Referenced Virtual Asset (ARVA) management tokens to facilitate regulated secondary-market transfers. Both ownership and management tokens will be recorded on-chain, creating a single, immutable record of ownership. This infrastructure is underpinned by Ctrl Alt’s role as a licensed Virtual Asset Service Provider (VASP), the first firm to receive an Issuer license from VARA, and a holder of a Broker-Dealer license.

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Robert Farquhar, CEO, MENA at Ctrl Alt said:

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“We’re proud to work with the Dubai Land Department and VARA on Phase Two of the project, demonstrating what is possible when governments and institutional-grade innovation come together to build market-leading digital rails. Native tokenization only reaches its full potential when assets can move efficiently post-issuance, and secondary market trading is essential to that outcome. By establishing robust tokenization infrastructure that supports the regulated transfer of tokenized land title deeds, Dubai is setting a global benchmark for how assets can be issued, traded, and managed on-chain.”

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Matt Acheson, CPO at Ctrl Alt, said:

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“Our goal was to build a secondary market infrastructure that is efficient for the entire ecosystem while maintaining the controls and governance required by the DLD and VARA. To achieve this, Ctrl Alt engineered a sophisticated technical framework to facilitate the dual operation of ARVA management tokens and ownership tokens seamlessly on-chain. We manage the underlying complexity of this tokenization technology so that distribution platforms like PRYPCO and others can deliver smooth, fractional real estate experiences to their end users, without the requirement of building and managing the tokenization infrastructure themselves.”

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This move further strengthens Dubai’s leadership in real estate innovation and digital assets, demonstrating how government collaboration, regulatory clarity, and technology can reshape ownership models and expand investor participation for real estate.

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About Ctrl Alt

Ctrl Alt is a leading tokenization provider, designing and operating the on-chain infrastructure that powers digital capital markets globally, partnering with major financial institutions and governments. The firm combines blockchain technology with expert financial engineering to deliver tailored, end-to-end and compliant solutions in the alternative assets space. As of February 2026, Ctrl Alt has tokenized over $850 million in assets, spanning real estate, private credit, funds, commodities and more. 

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Ctrl Alt Solutions DMCC is licensed by the Dubai Virtual Assets Regulatory Authority (reference: VL/25/05/002) as a Broker-Dealer and as an Issuer. Our principal office is located at Level No 11, Uptown Tower, Dubai, UAE. 

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Ctrl Alt Solutions DMCC is a wholly owned subsidiary of Alt Ltd. Alt Ltd (FRN 974321) is an Appointed Representative of Infinity Asset Management LLP (FRN: 464315), which is authorised and regulated by the Financial Conduct Authority.

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Virtual Assets may lose their value in full or in part, and are subject to extreme volatility. Investors in Virtual Assets can lose all their money and do not benefit from any form of financial protection.