United Arab Emirates, Dubai: 3 July 2024 — In a significant move in the global tokenized real world asset sector, MAG, a leading real estate developer in the UAE, announced a major partnership today with MANTRA, the Institutional-grade Layer 1 blockchain for tokenized RWAs, which will see the tokenization of half a billion US dollars’ worth of MAG’s real estate portfolio.
With MAG’s total real estate portfolio valued at over US$5bn, the collaboration with MANTRA aims to revolutionize real estate investment through the application of blockchain technology.Starting with Keturah projects – Keturah Reserve in Meydan, Dubai and Keturah Resort atDubai Creekside,the partnership will introduce a real estate financing vault on MANTRA’s purpose-built compliance-ready Layer 1 blockchain. This initial vault product provides investors with an attractive yield derived from an alternate asset class and is backed by the security of blockchain technology.