Saudi Arabia tokenizes first property title deed with NHC
The Saudi Arabian Minister of Housing and Municipal Affairs Majed Al Hogail announced during his participation at CityScape 2025 that the first property title deed had been tokenized using blockchain technology and transferred between NHC ( The National Housing Company) and investors under the supervision of General Real Estate Authority.
The announcement was made during his opening speech where he also noted that tokenization of properties will enable quick review of property deeds and encrypted documentation in property databases which will increase transparency and decrease risk. He also added that the Ministry will reveal tokenization framework in early 2026.
Al Hogail noted as well that the property market makes up 13.8 of GDP in Saudi Arabia and 15.5% of employment.
In October Al Hogail also announced that stablecoins would be utilized in the Saudi Arabian property sector. Majid Al-Hogail mentioned the utilization of stablecoins as a payment tool for global investors in the property sector. He stated, ” We look forward to introducing stablecoins in the Kingdom soon, in partnership with the Capital Market Authority and the Saudi Central Bank.”
According to the Minister this step would open up the market to foreign investment on a wider front, noting that stablecoin market capital exceeded $300 billion one of the fastest growing of all digital currency assets globally. He also mentioned it makes up two thirds of all digital currency transactions on the blockchain.
He explained that any Saudi Arabian real estate developer would be able to ensure capital investments from anywhere across the globe in minutes while adhering to the financial laws and regulations in Saudi Arabia. He explained that with every Saudi Riyal backed stablecoin, or USD backed stablecoin, the Saudi regulators would be able to oversee and carry out necessary KYC and AML diligence.
Already the UAE has moved forward when it comes to tokenization of real estate with entities such as Prypco and others.
