TL;DR
- MANTRA and MAG Group are collaborating to tokenize real estate assets valued at $500 million. Aiming to democratize access to premium properties using blockchain technology.
- MANTRA will provide a secure institutional-grade blockchain platform, while MAG Group will contribute its extensive experience in the UAE real estate market.
- The project will kick off with Keturah Reserve in Dubai, offering investors attractive returns and security through blockchain-backed tokenization.
MANTRA and MAG Group have announced they will work together to tokenize real estate assets valued at approximately $500 million. The ambitious project’s primary goal is to democratize access to premium properties through blockchain technology.
MANTRA, recognized for its institutional-grade blockchain infrastructure, will provide the secure and transparent platform necessary for tokenization. Meanwhile, MAG Group will bring its extensive portfolio and experience in the real estate market of the United Arab Emirates (UAE). Both firms are committed to developing luxury projects that redefine living standards.
🔥 UAE Real Estate Giant #MAG Partners with #MANTRA to Tokenize $500 Million in Real Estate Assets
✅ MANTRA and MAG will collaborate to democratize access to luxury UAE real estate using secure, yield-bearing vault products backed by MANTRA’s L1 technology.
This collaboration… pic.twitter.com/eVrwOUUa9H
— MANTRA – Tokenizing RWAs (@MANTRA_Chain) July 3, 2024
The initial focus of the collaboration will be on Keturah Reserve, an exclusive residential development located in Dubai’s Meydan district. Interested investors can participate in this initiative through a secure vault product backed by blockchain technology. It promises attractive returns and a robust security structure for investors.
MANTRA Sets New Standards in RWA Tokenization
Talal Moafaq Al Gaddah, CEO of MAG Lifestyle Development, stated that integrating blockchain technology will enhance the value and accessibility of their real estate offerings. The collaboration consolidates a project aimed at innovating real estate financing. Another key point is to set new standards in the tokenization of real estate assets in the Middle Eastern market.
In addition to Keturah Reserve, the project will include the tokenization of a $75 million mansion within ‘The Ritz-Carlton Residences, Dubai, Creekside’ development. The initiative offers attractive investment opportunities and provides a high level of security through initial over-collateralization and MAG’s corporate creditworthiness.
Tokenization of real-world assets (RWA) is gaining ground as a new tool in decentralized finance and the digital economy. MANTRA and MAG Group aim to capitalize on the interest in this new market and the existing trust in blockchain technology to transform traditional sectors.
