A project has launched in Spain that could redefine how real estate is financed. In the coastal town of Calella, Catalonia, construction has begun on a residential complex using, for the first time in the country, not a traditional bank mortgage, but an innovative tool— a tokenized loan. The deal is valued at one million euros, with nearly all funds already secured from private and institutional investors purchasing digital tokens.
Instead of the usual trip to the bank for a mortgage, the project’s organizers offered an alternative: anyone can invest by purchasing a token worth €1,000. The entry threshold is low, and an annual yield of 10% is promised. The investment term is just 12 months, with payment made in a single lump sum rather than monthly installments as in traditional mortgage schemes.
A new model
The core idea of the project is to make the real estate market more accessible and liquid. Tokenization breaks a mortgage into many digital shares, each with a unique identification code (ISIN). This opens up opportunities for a wider range of investors who previously couldn’t take part in such deals due to high entry barriers or complex procedures.
Organizers note that this approach not only speeds up the fundraising process but also makes it more transparent. Investors can monitor the status of their investments in real time, while the project itself becomes more flexible and resilient to market fluctuations. As a result, housing construction financing moves beyond banking monopolies and truly becomes a public initiative.
Benefits for Everyone
For the developer, this means being able to quickly secure the necessary funds without lengthy negotiations with banks or the need to provide extensive documentation. For investors, it’s an opportunity to diversify their portfolio by investing in the real sector of the economy, and not just in traditional financial instruments.
The project itself is an 18-apartment residential building with parking, a swimming pool, and shared recreational areas. Special attention is given to five penthouses with private terraces and pools. The complex is located just 20 meters from the beach, making it especially attractive for future residents and investors.
Technology and Market
Real estate tokenization is not just a buzzword, but a practical tool already being used in Spain. In addition to the current project, other examples are emerging in the market: companies are issuing tokenized bonds, and some firms are fully switching to a digital asset management model. This not only speeds up transactions but also reduces costs associated with intermediaries and paperwork.
In this case, the technical implementation is handled by the Alius Capital platform, a subsidiary of Token City. It is through this platform that investors purchase tokens and receive all necessary project updates. As of today, 881 out of 1,000 available tokens have already been sold, and less than a month remains until the end of the campaign.
The future of investment
Experts believe projects like these could set a new standard in the real estate market. The ability to quickly raise funds, ensure transparent operations, and make investing accessible to a broad audience makes tokenization attractive for both developers and investors. Amid growing competition and stricter banking regulations, such tools are becoming increasingly in demand.
Spain already has experience in issuing tokenized debt obligations, as well as companies that operate entirely on digital platforms. Financial and technology firms are actively exploring new opportunities related to the tokenization of various assets—from bank deposits to investment funds and stocks.
In case you didn’t know, OTESA, the developer behind the project in Calella, specializes in managing and executing residential complexes throughout Catalonia. Token City, one of Spain’s leading asset tokenization platforms, provides the technological backbone, while advisory support comes from JV20. Alius Capital, a subsidiary of Token City, handles the organization and sale of tokens. Together, these companies are actively integrating digital solutions into the traditional real estate market, opening up new opportunities for investors and developers.
