Jozo, the first Saudi company specialized in real estate tokenization, has announced the signing of a strategic memorandum of understanding with Liwan, the Saudi company specialized in developing mixed-use projects (residential, commercial, administrative, entertainment, and tourism), under the auspices of the General Real Estate Authority, represented by Mr. Ziad Al-Shammari, Chief Strategy and Partnerships Officer.
This memorandum aims to collaborate on designing and developing advanced digital solutions based on fractional ownership models for real estate assets and projects, enhancing the diversity of ownership options and expanding access to high-quality assets through digital tools grounded in transparency and reliability.
The Saudi real estate sector is witnessing notable development supported by an advanced regulatory environment and the adoption of PropTech, opening the door to new digital solutions that support accessibility and enhance market efficiency. Real estate tokenization is considered one of the most important digital models that facilitate ownership through secure digital shares backed by real assets.
Eng. Turki Khalid Al-Shlail, Founder and CEO of Jozo, said:
"This memorandum with Liwan represents an important step toward developing distinctive digital solutions in real estate tokenization and fractional ownership. At Jozo, we believe the future of the real estate sector is moving toward digitization, transparency, and accessibility, and with Liwan's expertise in mixed-use projects, we will work together to deliver advanced products that enhance the quality of the sector and keep pace with the aspirations of the next phase."
This memorandum forms a joint framework for developing new digital solutions, enhancing transparency, improving market efficiency, and offering modern, innovative ownership models suited to the needs of various segments in the real estate sector.
