RedSwan, based in Houston, Texas, continues its advancement in the real estate tokenization sector. On September 21st, 2023, the company secured an assignment to onboard and distribute a $4 billion real estate portfolio onto the blockchain. This portfolio, managed by Dubai-based WhiteRocks Holding, includes 36 mixed-use properties in the Middle East Gulf States region. RedSwan’s tokenized fund structure is designed to manage a digital capitalization table and attract new global investors while managing risk for wealth management and individual investors.
Details of the Tokenized Portfolio
The portfolio, composed of 80% stabilized properties across office, multi-family, retail, and industrial sectors, and 20% prime development sites, was appraised by global commercial real estate industry leader Cushman and Wakefield. This marks one of the largest private client deals in the region using tokenization.
Growth Projection for the Middle East Gulf States Real Estate Market
The Middle East Gulf States real estate market, known for its stability, is projected by CBRE to grow at a rate of 5.70% from 2023 to 2028. The current development pipeline in the region is valued at $1.4 trillion.