SettleMint's Digital Asset Lifecycle Platform (DALP) provides the production-grade technology backbone for the Kingdom of Saudi Arabia’s pioneering national real estate tokenization infrastructure — the first of its kind anywhere in the world.
Saudi Arabia has taken a decisive step toward the future of property markets. Four PropTechs (Sahl, Madak, Ghanem, and Jozo) have completed the first fully tokenised real estate transactions in the Kingdom, built on infrastructure designed and powered by SettleMint. It marks a milestone not just for the region, but for the global real estate industry: the first time a sovereign nation has deployed blockchain-based property tokenization at a national scale.
In November 2025, at CityScape, Saudi Arabia's Real Estate General Authority (REGA) announced the deployment of the world's first national-scale blockchain infrastructure for real estate registration. The ambition was clear: modernise how property is recorded, transferred, fractionalized, and invested in across the Kingdom. SettleMint was selected to design and deliver the underlying technology platform.
By January 2026, less than three months later, that ambition became an operational reality. During the Real Estate Future Forum, the four selected PropTechs conducted live tokenization transactions in a controlled environment on the RER (Real Estate Registry) blockchain infrastructure. Real estate assets were tokenised, transferred, and settled on-chain, with full integration into Saudi Arabia's national identity verification service (Yakeen) and its electronic bill presentment and payment system (Sadad).
The speed of this transition (from announcement to live transactions) speaks to the maturity of the underlying technology. National infrastructure projects of this complexity typically take years. SettleMint's platform made it possible in less than three months.
Building a national-scale tokenization infrastructure is fundamentally different from running a proof of concept. It demands production-grade technology that handles the full asset lifecycle end to end: from the moment a property is tokenised, to every transaction, compliance check, and servicing event that follows.
This is exactly what SettleMint's DALP was built to do. Rather than stitching together point solutions from multiple vendors — one for issuance, another for compliance, another for custody — DALP provides the entire lifecycle as a single, unified platform.
For the RER infrastructure, this means:
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Real estate assets are tokenised using configurable templates that encode ownership structures and the regulatory requirements of Saudi property law. Each asset type, whether a full property title, a fractional ownership share, or a fund structure, is modelled with its own lifecycle logic, rather than forced into a generic token format. This configurability enables four distinct PropTechs, each with its own business model, to operate on the same infrastructure without compromising the specifics of their use cases.
In a national property registry, legal certainty is non-negotiable. DALP's compliance framework is designed to validate transactions against regulatory policy before execution, ensuring that transfers, fractional sales, and ownership changes are checked against applicable rules at the point they occur, creating an auditable compliance trail that regulators and participants can trust.
Property transactions have historically suffered from fragmented settlement processes, with title transfers, payment verification, and registration updates happening across disconnected systems with days or weeks of lag. On the RER infrastructure, DALP enables tightly coupled settlement workflows where ownership transfer and payment verification are linked, significantly reducing the window for counterparty risk and removing much of the reconciliation burden that adds cost and delay to traditional property transactions.
A tokenization platform operating in isolation has limited value. What makes the RER deployment significant is its integration within Saudi Arabia's existing national infrastructure. Yakeen integration means that every participant in a transaction is verified against official government identity records of citizens, residents, and visitors alike. Sadad integration means that payment flows follow established national rails, giving both buyers and sellers the confidence of a system they already know and trust. DALP was designed to connect with exactly these kinds of institutional systems, bridging blockchain-based asset management with the traditional infrastructure that governments and financial institutions rely on.
Most tokenization platforms focus on the moment of issuance: simply creating the token. But a property's lifecycle doesn't end at creation. Ownership changes hands. Fractional shares generate distributions. Regulatory requirements evolve. Valuations update. DALP provides the tooling to manage these operations programmatically — from fractional ownership management to distribution processing — reducing the manual overhead that typically scales with portfolio size. As the RER ecosystem grows, this operational capability is what prevents the back office from becoming a bottleneck.
What distinguishes this initiative from the many tokenization experiments happening globally is its scope and institutional backing. This is a national infrastructure programme, operating under the guidance of Saudi Arabia's Minister of Municipalities and Housing, Mr. Majid bin Abdullah Al Hogail, and led by REGA and RER. It is integrated with sovereign identity and payment systems. It is designed to support an entire ecosystem of PropTechs, investors, and property owners — not a single use case.
SettleMint's platform was selected because it operates at this level. DALP is multi-tenant by design, allowing multiple PropTechs to operate independently on shared infrastructure while maintaining strict data isolation and compliance boundaries. It supports multiple asset types simultaneously, so the same infrastructure that handles full property titles today can accommodate fractional ownership, real estate funds, and new structures tomorrow, without requiring a platform rebuild.
As more PropTechs join, as new asset structures emerge, and as transaction volumes grow, the underlying SettleMint infrastructure scales with them. New participants are onboarded onto the same platform with their own configurations, compliance rules, and business logic — without adding architectural complexity.
Saudi Arabia's RER initiative is being watched closely by governments, regulators, and financial institutions around the world. It represents the clearest proof point yet that tokenized real estate can move beyond experimentation and into national-scale production, with real regulatory integration, and with real transactions.
SettleMint is proud to be the technology partner making it happen.
"The implementation has progressed significantly, where today PropTechs are utilizing secure integration interfaces to complete the first fully tokenised real estate transactions in the Kingdom," said Adam Popat, CEO of SettleMint. "We are proud that SettleMint's infrastructure is making this possible. The initiative is moving ahead quickly under the guidance of Minister of Municipalities and Housing, Mr. Majid bin Abdullah Al Hogail, and the leadership of REGA and RER."
Adam Popat, SettleMint CEO
SettleMint makes regulated, production-grade digital asset tokenization compliant, secure, and scalable for financial institutions, market infrastructure providers, and governments. Through our Digital Asset Lifecycle Platform (DALP), we enable institutions to design, launch, and operate digital asset solutions across major asset classes and blockchain networks — with the governance, compliance, and reliability required for real-world deployment.
Learn more at settlemint.com or book a call with our team.