A Multi-Cloud Architecture for Tokenized Real Estate Property Sales with Focus on Saudi Arabia

The global real estate market changes its format and evolves to the next level. Tokenization of real estate assets occurs due to the rise in fractional ownership of tangible property assets, represented using blockchain technology. This study will concentrate on how multi-cloud architecture can be used to support tokenization of real estate assets in Saudi Arabia. Its rapidly developing regulation and technological environment make Saudi Arabia attractive for tokenization of real estate assets. Tokenization is a process that needs capabilities that no single cloud can have. In order to conduct tokenization, one should be able to deploy a blockchain infrastructure, custody services, ensure data residency in compliance with local laws, and integrate the solution with the existing property registry. A single cloud service provider introduces a high concentration risk, since it results in vendor lock-in and restricts the choice of the most appropriate blockchain platform. A conscious approach of using a multi-cloud strategy allows addressing all these concerns. The sources that were used in this research include reports from seven different countries, including Saudi Arabia, UAE, Qatar, Oman, India, UK, and US. Also, public sources concerning market performance, regulations, and architectural design were utilized. It is important to note that priority was given to publications prepared by regulatory agencies, such as Real Estate General Authority of Saudi Arabia and Dubai Land Department. The following key points should be mentioned. First, the global market size of tokenization within the field under investigation is estimated to reach USD 3.5 billion in 2024 and USD 19.4 billion in 2033, with a compound annual growth rate (CAGR) of 21%.[1] Moreover, the cumulative market size in the GCC region is forecasted to equal to USD 1.2 billion.[3] Second, Saudi Arabia demonstrates the best results: it has already issued nine technology platforms for tokenization and performed its first tokenization transaction.[11] It was also the first country to develop and publish a national regulatory standard for real estate tokenization.[12] Finally, Saudi Arabia's cloud computing market is forecasted to reach USD 14.55 billion in 2024 and USD 38.23 billion in 2033.[4] According to the suggested solution, the load will be shared between AWS (token execution and custody services), Microsoft Azure (identity and access management and compliance logging as well as integration layer), and Google Cloud (big data analytics). Cross-chain interoperability is achieved using open-source cross-chain bridge protocols. Also, it is assumed that tokenization regulations will be issued in June 2026. This research is valuable to the literature review because it highlights interrelationships between blockchain and cloud technologies that were traditionally studied separately. One should not discuss tokenization and regulation issues of Saudi Arabia market without considering the above topics together.