Goldman Sachs has joined a group of financial and digital asset firms that have launched a tokenized real estate fund, adding another institutional-backed project to a market that has gained momentum across property investing.
Summary
- Goldman Sachs, Apex Group and Archax have launched a tokenized real estate fund using Goldman Sachs’ GS DAP blockchain platform.
- The fund issues blockchain-based real estate units while keeping traditional fund governance, administration and regulatory oversight in place.
- The launch comes as tokenized property gains traction, with Dubai reporting nearly $400 million in tokenized real estate sales and Blocksquare surpassing $200 million in tokenized assets.
According to a Thursday announcement, Goldman Sachs is working with Apex Group, Archax, Ownera, and real estate investment manager LRC Group on a blockchain-native fund that tokenizes ownership interests in real estate assets.
The initiative combines traditional fund structures with blockchain-based issuance, allowing fund units to be represented on-chain while remaining subject to existing governance and regulatory frameworks.
Fund shares are being issued through GS DAP, Goldman Sachs’ digital asset platform. LRC Group serves as the fund manager, while Archax acts as custodian for the regulated digital securities and has become the first distribution partner. Ownera is responsible for connecting market participants and distribution channels.
Within the structure, Apex Group is providing Alternative Investment Fund Manager services through Fundrock LIS. Apex Fund Services Luxembourg is also supplying fund administration and depositary services for assets other than financial instruments.
Mathew McDermott, Global Head of Digital Assets at Goldman Sachs, said issuing fund units through GS DAP allows investment in real estate assets with greater precision while creating a pathway for more seamless transferability in the future.
Real estate tokenization gains institutional backing
The launch arrives as tokenized real estate continues to attract attention from both traditional financial institutions and blockchain-focused companies.
Earlier this year, Ripple partnered with Dubai-based Ctrl Alt to support the tokenization of property title deeds issued by the Dubai Land Department. Under that arrangement, Ctrl Alt integrated Ripple’s custody technology to store and manage tokenized real estate assets issued on the XRP Ledger.
The partnership followed the rollout of Prypco Mint, a government-backed platform developed with Ctrl Alt that allows UAE residents to purchase fractional ownership stakes in real estate from as little as AED 2,000, or about $545. According to project details, the platform targets up to $16 billion in tokenized property by 2033 and currently operates within Dubai’s Real Estate Sandbox.
Regulatory support has also expanded in the emirate. In May, Dubai’s Virtual Asset Regulatory Authority updated its framework to formally include real-world asset tokenization, while the Dubai Land Department launched a tokenized property platform in collaboration with the Central Bank of the UAE and the Dubai Future Foundation.
Data released at the time showed that tokenized property sales in Dubai reached nearly $400 million during May 2025, representing 17.4% of all real estate transactions recorded that month.
Growth has not been limited to the Middle East. On July 11, real estate tokenization infrastructure provider Blocksquare said it had surpassed $200 million in tokenized property assets across 66 properties in 29 countries. The company stated that the milestone came as the total value locked in tokenized real-world assets exceeded $65 billion after an 800% increase during 2025.
Blocksquare Co-Founder and CEO Denis Petrovcic said the company’s latest milestone demonstrated that tokenized real estate was moving beyond experimentation and into practical adoption through compliant investment structures.
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