Tokyo-based real estate investment firm GATES Inc. has announced plans to tokenize $75 million worth of commercial properties in central Tokyo. The initiative will use the Oasys blockchain, aiming to make property investments more accessible to international investors.
The move is part of a broader effort to lower entry barriers in Japan's real estate market, which often presents regulatory, financial, and language challenges for foreign buyers.
GATES plans to expand beyond the initial $75 million project. The company has outlined ambitions to tokenize over $200 billion in assets—roughly 1% of Japan’s $20.5 trillion real estate market.
Globally, tokenization of real-world assets (RWAs), including property, is gaining interest. Markets such as Dubai are forecasting tokenized real estate to reach $16 billion by 2033. According to projections by BCG and Ripple, tokenized asset markets across asset classes could grow to $18 trillion by that time.
Founded in 2012, GATES Inc. offers end-to-end services in property investment and reported $145 million in revenue in 2024. The firm has filed preliminary documents for a potential Nasdaq listing.
By using blockchain for ownership records, the company hopes to streamline property transactions, particularly for overseas investors. These investors would be able to buy and sell real estate tokens on decentralized platforms without relying on local intermediaries.
To ensure regulatory compliance, GATES plans to issue the tokens through a special-purpose vehicle based outside Japan.
The project is being developed in collaboration with Oasys, a layer-1 blockchain initially created for the gaming sector. In recent months, Oasys has started shifting toward real-world asset tokenization to explore broader applications in finance and property.
“Japanese content, including intellectual property, holds strong global value,” said Ryo Matsubara, Representative Director of Oasys. “Tokenizing these assets as RWAs aligns with our strengths and direction.”
Following the Tokyo rollout, GATES intends to expand its tokenized property model to the U.S., Southeast Asia, and Europe. Future initiatives may also include tokenization of Japanese intellectual property rights, allowing global investors to gain exposure to media and cultural assets.
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By Ravi Kumar