Saudi Arabia’s Next Big Move: Stablecoins and Real Estate Growth

October 27, Riyadh, Saudi Arabia: Speaking at the World PropTech Summit 2025 in Riyadh, H.E. Majid Al-Hogail, Saudi Minister of Municipal, Rural Affairs and Housing, confirmed that the Kingdom is preparing to introduce stablecoins in partnership with the Capital Market Authority (CMA) and the Saudi Central Bank.

“We look forward to introducing stablecoins in the Kingdom soon, in partnership with the Capital Market Authority and the Central Bank,” Al-Hogail stated.

The Minister emphasized that stablecoins have emerged as a foundational element of the modern digital economy, with a global market capitalization now exceeding SAR 1.125 trillion (USD 300 billion)—accounting for nearly three-quarters of all blockchain-based transactions worldwide.

He noted that the world is witnessing a fundamental redefinition of financial infrastructure, with cryptocurrency and stablecoin transactions surpassing SAR 33.75 trillion (USD 9.0 trillion) over the past year alone, including SAR 4.5 trillion (USD 1.215 trillion) in September 2025. According to data from the Bank for International Settlements, this volume is nearly five times higher than PayPal’s global transactions and approaches Visa’s global settlement capacity.

Al-Hogail highlighted that leading global financial centers—Dubai, Singapore, New York, London, and Zurich—have already established regulatory frameworks supporting stablecoins, underpinned by transparency, low friction, and automated verification systems. Saudi Arabia, he said, aims to follow suit by building a secure and efficient digital financial settlement system.

“We also aim to expand participation in the regulatory sandbox to ensure the Saudi real estate market remains among the most innovative and competitive globally,” Al-Hogail added.

On the investment front, Mohammed Al-Kuwaiz, Chairman of the Capital Market Authority, revealed that the Kingdom’s real estate funds now approach SAR 300 billion (USD 81 billion) in size—making them the largest investment class within Saudi Arabia’s asset management sector, which has surpassed SAR 1.2 trillion (USD 324 billion) in total value.

These funds span diverse asset categories, including commercial, residential, office, and land investments, reflecting the ongoing diversification and maturity of the Saudi property market.

Al-Kuwaiz also pointed to the debt market’s growing role as a modern financing mechanism within the real estate sector. Debt issuances have now exceeded SAR 35 billion (USD 9.3 billion), outpacing equity financing. Meanwhile, venture capital activity continues to rise, with total managed assets reaching SAR 5 billion (USD 1.3 billion). However, investment in proptech—while growing—remains relatively modest at SAR 35 million (USD 9.3 million).

The integration of stablecoins and the strengthening of real estate investment vehicles mark another key step in Saudi Arabia’s Vision 2030 agenda, reinforcing its ambition to create a digitally empowered, investment-friendly economy capable of competing on a global scale.