Beyond Dubai: 10 Real Tokenized Real Estate Projects Around the World
Saher Khatib-October 2025
Over the past few months, we’ve explored how the UAE is leading the tokenization wave — from legal frameworks to financing.
But this movement is not limited to Dubai. From Switzerland to the U.S., Singapore, and even Japan, the tokenization of real estate is becoming a global phenomenon.
In this issue, we’ll travel across continents and look at ten real projects already live or in pilot stages — each proving that tokenized ownership isn’t just theory anymore.
1. Aspen Digital Resort (United States)
One of the earliest and most famous examples. The luxury St. Regis Aspen Resort was tokenized via the Aspen Coin, allowing investors worldwide to own shares in the hotel’s income.
✅ Regulated offering
✅ Institutional participation
✅ Proof that tokenization works in hospitality
2. RealT (United States)
RealT allows investors to buy fractional tokens of U.S. rental homes, mainly in Detroit and Chicago.
Each token represents a share of a real LLC that owns the property.
Rental income is distributed weekly in stablecoins.
It’s one of the most active tokenized portfolios worldwide.
3. Mt Pelerin Bank (Switzerland)
Mt Pelerin pioneered the tokenization of Swiss real estate shares under clear FINMA regulation.
Their system allows both retail and institutional investors to hold compliant, transferable tokens that represent actual ownership.
Switzerland remains a global leader in digital securities regulation.
4. Brickken (Spain)
Brickken’s platform enables developers to tokenize commercial and residential properties across Europe.
By issuing digital securities, developers can raise funds faster while investors access vetted deals with full transparency.
5. ADDX (Singapore)
Singapore’s ADDX platform offers tokenized versions of institutional-grade real estate funds and private equity.
Backed by Temasek’s iSTOX initiative, it’s a powerful example of government-supported tokenization.
6. SDX – Swiss Digital Exchange (Switzerland)
Operated by the SIX Group (owner of Switzerland’s main stock exchange), SDX provides regulated trading of tokenized securities, including real estate funds.
It’s a bridge between traditional capital markets and blockchain.
7. Propchain (Luxembourg / Dubai)
Propchain connects Dubai and Europe through a unified ecosystem for tokenized real estate.
It’s focusing on blending Web3 design with regulated real-world asset offerings, aiming for cross-border investor access.
8. HoneyBricks (United States)
Focused on institutional-grade U.S. multifamily properties, HoneyBricks enables accredited investors to buy digital tokens and receive rental yield in stablecoins.
Their integrations with digital wallets make ownership seamless.
9. Tokeny & INX (Global)
Tokeny (Luxembourg) provides the tech infrastructure for compliant security token offerings, while INX (Gibraltar/U.S.) offers a regulated exchange where tokenized assets can trade — including real estate funds and REIT-like instruments.
10. UAE Government Pilots (Dubai)
The Dubai Land Department (DLD) has tested blockchain integration for property records since 2017.
Now, with VARA and ADGM, the UAE is moving toward fully compliant tokenized fund structures.
It’s not just theory — the foundation is already built.
Why These Projects Matter
Together, these projects represent the bridge between traditional finance and blockchain infrastructure.
Each one solves a different problem:
Aspen Coin proved regulation is possible.
RealT showed global accessibility.
ADDX and SDX proved institutions will join once frameworks are clear.
Dubai is showing that governments can lead, not follow.
Tokenization is no longer “coming soon.” It’s happening quietly everywhere.
What Comes Next
The next stage will focus on:
Cross-border interoperability: Allowing tokens from one jurisdiction to trade globally.
Integration with DeFi lending: Borrowing against real-world property tokens.
AI-assisted management: Automated valuation, rental optimization, and compliance.
By 2030, investors won’t think of “tokenized real estate” as a new asset class — just real estate.
Proof is everywhere. The revolution has already begun.