A recent analysis of RWA.XYZ, the leading data platform for tokenized RWA, published its latest tokenized data analysis with the addition of a new asset class: real estate. The UAE leads in the number of tokenized real estate assets, and the US leads in the value of tokenized real estate assets.
The platform’s analysis shows that tokenized real estate, including direct ownership, funds, REITs, and mortgage-backed bonds, is currently worth $356.2 million (in the past 30 days), with more than 10,000 holders owning 57 tokenized assets in 10 countries.
Countries that have tokenized real estate projects include Canada, Mexico, the United States, Romania, Italy, Spain, Greece, and the UAE.
But the two countries that stand out are the UAE and the US. The UAE has tokenized 23 assets worth $129 million, while the US has tokenized 10 assets worth $145 million, indicating the UAE’s lead in the number of real estate assets tokenized.
UAE-regulated Mantra Chain Tokenizes Most Real Estate Assets
When it comes to blockchain networks, Mantra Chain, a regulated tokenization network in the UAE, holds the largest share in terms of network. Mantra Chain has tokenized real estate assets worth $117.7 million, followed by Base with $81.5 million worth and Stellar with $71.7 million worth.
Meanwhile, the Ctrl Alt tokenization platform came out on top in terms of the most real estate tokenized assets, with a total of $124 million.
Source: RWA.XYZ
In terms of tokenized real estate, World Islands in the UAE has tokenized the most real estate. DAMAC City Tower was tokenized, as well as Dubai Marina Hotel, which was tokenized on the XRP Ledger with Ctrl Alt. Other UAE properties included Kensington Waters and Sober Creeks.
The real estate tokenization market size is still small.
Although the real estate tokenization market size is still small compared to other tokenized assets such as stablecoins ($293 billion) and U.S. Treasuries ($10 billion), it is catching up with stocks, which currently have a market capitalization of $942 million.
As for the future outlook, industry analysis, including forecasts from Deloitte, suggests that the tokenized real estate market could grow from less than $300 billion in 2024 to more than $4 trillion by 2035, at a compound annual growth rate (CAGR) of approximately 27%.
Tokenized real estate bonds are predicted to have the highest share of the market, potentially reaching $2.39 trillion by 2035, followed by private real estate funds at $1 trillion.
In MENA, the UAE currently leads in this field, but Saudi Arabia’s recent foray into real estate tokenization could soon lead it there as well. The Real Estate Registry, part of Saudi Arabia’s REGA, has developed a tokenized registry of Saudi real estate built by SettleMint, and nine Proptechs are currently building applications in its sandbox.
