In 2025, luxury and commercial real estate tokenization is moving from pilot projects to billion-dollar deployments. By turning property shares into blockchain-based tokens, platforms unlock fractional ownership, enable cross-border participation, and add liquidity to traditionally illiquid assets. For investors and institutions alike, regulated real-world asset (RWA) infrastructure now offers a new channel to access prime property markets. Here are four projects leading this transformation: MultiBank Group, MANTRA Chain, Propy, and Hedera via RedSwan CRE.
1. Hedera and RedSwan CRE
Hedera, known for its enterprise-grade Hashgraph distributed ledger, supports real estate tokenization through its partnership with RedSwan CRE. RedSwan manages approximately $5 billion in commercial real estate and operates Token Studio on Hedera, enabling fractional ownership and secondary trading of digital securities. The company is at the forefront of innovation operating in the U.S. under full state security regulation.
The combination of Hedera’s energy-efficient, high-throughput architecture and RedSwan’s institutional portfolio creates a credible foundation for RWA tokenization. While luxury residential projects on Hedera have yet to match the billion-dollar scale seen in markets like Dubai, the ecosystem remains one of the most institution-ready in the space. Through Token Studio, RedSwan offers a seamless, end-to-end digital experience for fractional investing, helping transform real estate into a 24/7 global asset class.
2. MultiBank Group
In May 2025, Dubai-based MultiBank Group, the world’s largest financial derivatives institution, regulated across five continents by 17 of the most reputable financial authorities globally, partnered with MAG Lifestyle Development and blockchain firm Mavryk to launch the largest Real-World Asset tokenization initiative to date, valued at $3 billion.
MAG is contributing its premium property portfolio, including The Ritz-Carlton Residences, Dubai, Creekside (part of the Keturah Resort), and Keturah Reserve. These assets support the $MBG utility token, which offers staking, fee discounts, early access to listings, and operates under a deflationary buy-back model.
Mavryk, a purpose-built platform for such assets, delivers the blockchain rails required for compliant on-chain asset distribution. It also enables DeFi integrations that broaden utility and user access.
Beyond real estate, MultiBank Group brings institutional credibility with a derivatives business generating $362 million in 2024 revenue and custody solutions secured via Fireblocks. The company is already targeting a $10 billion tokenized asset pipeline, positioning $MBG utility Token as a core player in institutional-grade property tokenization.
3. MANTRA Chain
MANTRA Chain is a Cosmos-based Layer-1 blockchain purpose-built for compliant RWA tokenization. It combines integrated KYC/AML, a decentralized exchange, and interoperability through IBC to support tokenized assets such as real estate, art, bonds, and securities.
In early 2025, MANTRA signed a $1 billion deal with DAMAC Group to tokenize properties, data centers, and hospitality assets across the UAE. This followed a $500 million partnership with MAG Property, marking MANTRA as a central hub for institutional tokenization in the Gulf region.
Licensed under VARA as a virtual asset service provider, MANTRA has also launched a $108 million ecosystem fund to accelerate RWA adoption. Its chain is designed to become the “ledger of record” for tokenized assets, combining regulatory alignment with decentralized infrastructure.
4. Propy
Propy pioneered blockchain-based property transactions, facilitating the first US crypto real estate sales in 2022. The platform uses NFTs to represent property ownership, allowing for on-chain transfers and global investor access. Its native PRO token supports listings and settlement within this ecosystem.
In 2025, Propy continues to expand its international property database with RWA-enabled listings. While its deal volume does not yet match the billion-dollar tokenizations of MultiBank and MANTRA, the platform retains a strong position among early adopters seeking to buy residential real estate using cryptocurrency and NFTs.
Beyond digitizing real estate, Propy is also redefining how property is bought and sold in a borderless environment. By supporting NFT-based ownership transfers and crypto-backed mortgages, it offers investors greater speed, transparency, and efficiency in accessing global property markets.
Why it matters
The tokenization of luxury and commercial real estate is moving into a new phase.
MultiBank Group and MANTRA are executing billion-dollar projects under regulated frameworks, while Propy and Hedera demonstrate the technical and transactional infrastructure needed for global adoption.
For investors, the appeal is clear: fractional access to high-value property, increased liquidity, and blockchain-verified transparency. As 2025 unfolds, these projects exemplify how on-chain ownership can reshape the way prime real estate is bought, sold, and held.
