Saudi Arabia Accelerates Real Estate Tokenisation with SettleMint Partnership

Saudi Arabia’s push to bring real estate on-chain is gathering real momentum. This month, global digital asset infrastructure provider SettleMint confirmed it is continuing its role in supporting the Kingdom’s national property tokenisation platform, working alongside four PropTech players, Sahl, Madek, Ghanem and Jozo, as they plug into key national systems including Yakeen and Sadad.

If you’ve been following this space with us at Arageek, you’ll know that real estate tokenisation has often felt like one of those ideas that sounds spot on in theory but becomes a bit of a faff in practice. That said, Saudi Arabia seems determined to make it work at scale.

The groundwork was laid back in November 2025 during Cityscape, when the Real Estate General Authority (REGA) announced the rollout of what was described as the world’s first national blockchain-based tokenisation infrastructure for property registries. In simple terms, the system is designed to record property titles, enable fractional ownership, and connect to digital marketplaces, all powered by blockchain technology.

SettleMint’s role comes through its Digital Asset Lifecycle Platform, known as DALP. The company provides the underlying infrastructure that allows real-world assets, in this case, property, to be securely represented and managed on-chain while remaining compliant with regulations. I reckon that compliance angle is what will make or break similar projects elsewhere. Without regulatory clarity, tokenisation risks becoming just another buzzword.

Progress has moved quickly. At the end of January 2026, during the Real Estate Future Forum, the four selected PropTech firms carried out live tokenisation transactions in a controlled environment. These transactions were executed on the Real Estate Registry (RER) blockchain infrastructure, with integrations into Yakeen, Saudi Arabia’s digital identity verification system, and Sadad, the national electronic bill presentment and payment platform.

The Yakeen link allows instant verification of citizens, residents and visitors through official ID, Iqama or visa numbers. Meanwhile, Sadad connects payments to the process, meaning transactions can tie directly into the country’s established financial rails. It’s not just about flashy blockchain announcements; it’s about fitting into the systems people already use. And believe it or not, that’s often the hardest bit.

Adam Popat, CEO of SettleMint, said the implementation has progressed significantly, with PropTechs now using secure integration interfaces to complete what he described as the first fully tokenised real estate transactions in the Kingdom. He added that the initiative is advancing under the guidance of the Minister of Municipalities and Housing, Majid bin Abdullah Al Hogail, along with the leadership of REGA and RER.

The broader ambition is to create a next-generation property marketplace infrastructure. The technology stack combines blockchain-based title management, automated valuation models (AVMs), escrow-linked payment verification and fractional ownership capabilities. In theory, that could open the door to new forms of property investment and financing, allowing smaller investors to own slices of assets that would otherwise be out of reach.

Now REGA has launched the second edition of the initiative. PropTech startups will operate under several tracks, including fractional ownership, moving through four phases: application, readiness assessment, a testing period lasting between six and 24 months based on set performance indicators, and finally an exit phase. Applications are open until 30 April.

On the flip side, large-scale infrastructure projects are rarely smooth sailing, especially when they touch something as sensitive as property rights. But from what we’re seeing, Saudi Arabia is not dipping its toes in; it’s going all in. For founders across MENA watching this unfold, there’s a clear signal: regulators are not just tolerating innovation in real estate, they’re actively shaping it.

And well, for a region that has sometimes been cautious with disruptive models, that shift feels signifcant.

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