Saudi Proptech Sandbox begins second cohort with tokenization at helm
Saudi Arabian Real Estate General Authority (REGA) has announced that it has launched the second cohort for real estate regulatory PropTech sandbox as part of its innovation initiatives for the property sector in the country. This comes months after Saudi Arabia announced its national real estate tokenization platform being built using SettleMint the blockchain and tokenization infrastructure, through its Digital Asset Lifecycle Platform Provider (DALP).
REGA noted that this Proptech real estate sandbox is open to technology companies, businesses, startups, under the regulatory guidance of REGA. Proptechs can test their solutions within a limited client base, to ensure innovation balanced with regulatory guidelines.
REGA also noted that Proptechs in the sandbox will pass through four stages, application, evaluation, testing which last anywhere between 6-24 months, and then exit where they can launch their offering into the market after meeting regulatory requirements.
The authority also noted that the sandbox will include several tracks such as fractional property ownership utilizing property tokenization, which will offer investment and funding solutions which will help to grow and improve the efficiency of the real estate sector in the country.
Finally the Saudi authority noted that the first batch of participants in the sandbox, nine in total, included digital platforms that focused on fractional ownership in regulated environment. The platforms have already started operating and they are: Sahel, Jozo, Ghanem, Madak, Droub, Noula, Haseeltak, Gamma assets, and Hustak.
For those interested in participating in the second cohort, they need to apply before April 30th 2026.
