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Real Estate Tokenization
in Indonesia

Indonesia is moving fast: OJK now supervises digital financial assets, has placed property tokens in its sandbox, and is preparing a 2025 regulatory framework for securities/utility tokens that explicitly covers tokenized real estate

  • OJK oversight + sandbox for property tokenization (POJK 3/2024)

  • First live DIRE tokenization pilot (BTN × Reliance MI × D3 Labs)

  • VAT removed on crypto transfers (from Aug 2025)

  • Strong capital-markets base (REIT/DIRE regime under POJK 64/2017)

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  • OJK oversight + sandbox for property tokenization (POJK 3/2024)

  • First live DIRE tokenization pilot (BTN × Reliance MI × D3 Labs)

  • VAT removed on crypto transfers (from Aug 2025)

  • Strong capital-markets base (REIT/DIRE regime under POJK 64/2017)

About

Why Indonesia is Attractive for Tokenization

Regulatory clarity emerging

Crypto/digital assets moved to OJK (2025). New rulebook in progress, with RWA tokenization explicitly included

Sandbox support

Property-benefit tokens admitted into OJK’s ITSK sandbox

Capital-markets backbone

DIRE REIT framework provides a compliant fund for institutional property tokenization

Tax reset

VAT on crypto trades abolished (Aug 2025) → parity with securities treatment

Massive real-estate demand

A fast-urbanizing, 270m+ population market with growing interest from retail and institutional investors

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Tokenization Routes

Possible Routes for Tokenizing Property
in Indonesia

Sandbox Property-Benefit Tokens

Securities Crowdfunding with DLT

DIRE (REIT)

Offshore Issuer + Local SPV

  • Sandbox Property-Benefit Tokens

    When: Pilot-stage models offering revenue shares or usage rights.
    How: Apply to OJK sandbox (POJK 3/2024); operate under caps, disclosures, AML/KYC.
    Live example: GORO (PT Teknologi Gotong Royong / PT Properti Gotong Royong).

  • Securities Crowdfunding with DLT

    When: Smaller ticket raises (equity/debt in property SPVs).
    How: Offer via licensed SCF platform (POJK 57/2020, 16/2021); tokens can mirror shares/notes but remain securities.

  • DIRE (REIT)

    How: Form a DIRE KIK under POJK 64/2017; appoint OJK-licensed IM + custodian; tokenize units for transferability.
    Live precedent: BTN × Reliance MI × D3 Labs pilot (2024).

  • Offshore Issuer + Local SPV

    When: Focus on foreign investors.
    How: Offshore issuer (e.g. Singapore, BVI) + Indonesian SPV/DIRE. No marketing “into” Indonesia without OJK approvals.

Real cases

Implemented Market Examples

  • TanahToken (Bali land pilot)

    One of Indonesia’s first pilots for land-backed tokens, focused on fractional investment into Bali land plots. Structured via local SPV, tokens represent economic rights (not direct land title, as foreign ownership is restricted). Distributed through a controlled investor pool.

  • IDX Digital Asset Sandbox

    The Indonesia Stock Exchange (IDX), together with OJK (Financial Services Authority), has tested tokenized securities and real-estate-backed instruments under its regulatory sandbox. Early-stage programs are preparing infrastructure for compliant property tokenization.

  • Crypto-enabled property transactions (practice)

    Several property developers in Bali and Jakarta now accept cryptocurrency (BTC, USDT) for property sales. While not tokenization, this reflects growing acceptance of digital assets in the real estate sector and paves the way for full tokenized offerings.

Considering tokenization in Indonesia?
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Scale into Southeast Asia’s largest and fastest-growing economy

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Solution

The Solution with Tokenizer.Estate

Funding in Weeks, Not Months

Launch token offerings in 1–2 weeks instead of waiting 6–12 months with banks

Global Investor Pool

Reach thousands of international investors with fractional entry points starting at $100

Dynamic Pricing & Incentives

Stage token prices across development phases to maximize returns and reward early backers

Compliance Built-In

Legal frameworks aligned with EU (MiFID II), UAE (VARA), and other jurisdictions

Full Control

Manage token supply, smart contracts, and investor data from a single dashboard

Use cases

Solutions Designed for Your Success

We support everyone from Real estate owner to Sovereign Funds

FAQ

Frequently asked questions

  • Is property tokenization legal in Indonesia?

    Yes—under DIRE rules, sandbox pilots, and OJK’s DFA framework. Full securities-token rules are expected in 2025.

  • Is there tax on property tokens?

    From August 1, 2025, VAT is eliminated on crypto/DFA transfers; income tax applies per MoF Reg. 50/2025.

  • Do tokens represent land titles?

    No. Titles remain registered with ATR/BPN. Tokens represent REIT units, SPV securities, or contractual benefits.

  • Are crypto payments allowed?

    No. Only Rupiah is legal tender. Subscriptions/redemptions must use IDR rails.

See our full FAQ page for more details

Adopted for

Global Jurisdictional Coverage

Every market has its own rules. We’ve already built the structures to make tokenization work — from Europe to Asia to the Middle East. Launch with confidence, wherever your investors are

Last updated: 2025-10-01

The information on this page is for general informational purposes only and does not constitute legal, financial, investment, or tax advice.
Tokenizer.Estate provides a platform for real estate tokenization and connects you with licensed local partners, but we do not provide legal or regulatory guidance.
Please consult qualified professionals in your jurisdiction before making any investment or tokenization decisions.

Sources & References

  1. OJK (Financial Services Authority): https://www.ojk.go.id/
  2. Government Regulation PP 49/2024 (oversight transfer): https://docs.paralegal.id/
  3. MoF Regulation 50/2025 (tax): https://www.ahp.id/
  4. ATR/BPN (land law): https://www.atrbpn.go.id/
  5. detikFinance (BTN pilot): https://finance.detik.com/
  6. PR Newswire (DIRE tokenization pilot): https://www.prnewswire.com/
  7. Fintech Singapore (Digital Rupiah): https://fintechnews.sg/

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