Entities in Dubai and the Maldives are progressing with high-value tokenized real estate projects. The Dubai Land Department recently revealed plans to enhance their tokenization pilot program, following the successful tokenization of real estate valued around $5 million. This allowed for about 7.8 million tokens to be traded.

The pilot program is supported by Ctrl Alt, a Virtual Asset Service Provider licensed in Dubai, which aims to issue “Asset-Referenced Virtual Asset management tokens” for operational efficiency in secondary markets. Transactions for these real estate tokens will be documented on the XRP Ledger and safeguarded by Ripple Custody.

Similarly, a hotel project linked to Donald Trump in the Maldives is also entering the tokenization phase. DarGlobal has partnered with World Liberty Financial, and they plan to tokenize a Trump-branded resort, partnering with financial tech firm Securitize.

Ziad El Chaar, CEO of DarGlobal, noted:

“[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.”

Moreover, significant attendees at the launch included major figures from traditional finance and crypto sectors, such as Goldman Sachs CEO David Solomon and Coinbase CEO Brian Armstrong.