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Saudi Arabia today unveiled pilot that lets every citizen buy blockchain tokens in a luxury Riyadh tower for as little as 1 Saudi Riyal. Run by Web3 firm droppRWA with developer RAFAL, the scheme is the Kingdom’s first regulated test of fractional real-estate ownership and opened at 13:12 CEST with instant online sign-ups.
Tokens give holders a slice of rent and any sale profit and can be traded inside a sandbox exchange approved by the Capital Market Authority. droppRWA said the minimum buy-in of about US$0.27 “removes the old wealth barrier”, while RAFAL will tokenize more buildings if the three-month feasibility study proves secure. The plan was detailed press release shared with regional outlets.
“This move lets young Saudis co-own prime assets the same way they buy coffee,” stated Elias Abusamra, CEO of RAFAL, calling it “a real step toward Vision 2030’s wider financial inclusion.”
Tokenization turns bricks into tiny digital shares kept on a blockchain. Because deals clear in seconds and paperwork is coded, costs fall and small investors get access once reserved for big funds. Riyadh’s trial follows Dubai’s 2025 fractional deeds program and Singapore’s commercial-office sandbox launched yesterday, showing Gulf and Asian regulators racing to test on-chain property.
If secondary trading stays liquid, officials hint the next phase could allow foreigners to join, bringing new capital to the Kingdom’s US$700 billion real-estate market while keeping real assets inside national oversight.
