Dar Global, a Saudi real estate developer, is set to tokenize up to 70% of its Trump-branded luxury resort in the Maldives, targeting U.S. retail investors as a primary financing strategy using blockchain technology. The project, valued at approximately $300 million, will feature around 80 luxury beach and overwater villas and is scheduled to open by the end of 2028.
Unlike typical real estate tokenization models focused on completed properties, this initiative allows investors to participate from the development phase, providing exposure from inception. Eric Trump, executive vice president of the Trump Organization, emphasized that this "will not only redefine luxury in the region but also set a new benchmark for innovation in real estate investment through tokenization."
Dar Global intends to retain a 30% to 40% ownership stake and is currently in discussions with the U.S. Securities and Exchange Commission (SEC) to address regulatory considerations, as the tokens may be classified as securities. The resort, located about 25 minutes by speedboat from Malé, represents a pioneering step in real-world asset (RWA) tokenization, potentially influencing future high-capital expenditure projects in hospitality and real estate.
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