Press releases from MANTRA or DAMAC Group, financial news reports

MANTRA and DAMAC Group to Tokenize $1 Billion in UAE Real Estate, Hospitality, and Data Centers Starting Early 2025

Jan 9, 2025, 03:37 PM

MANTRA, a blockchain platform focused on real-world assets (RWAs), has entered into a $1 billion deal with Dubai-based property conglomerate DAMAC Group to tokenize at least $1 billion of the firm's assets in the UAE. The agreement aims to enable token-based financing for DAMAC's portfolio companies, which span across real estate, hospitality, and data centers. This partnership is set to enhance investment accessibility and streamline processes, with the tokenization of these assets expected to begin in early 2025, marking a significant step in the adoption of blockchain technology in the UAE's real estate sector.