MANTRA Partners With Dubai’s DAMAC Group To Tokenize $1 Billion In Assets In the Middle East

MANTRA, a blockchain platform focused on real-world assets (RWAs), has announced a major partnership with Dubai’s DAMAC Group to tokenize assets worth at least $1 billion across the Middle East, the two companies revealed on Thursday.

The deal marked a significant step forward in the growing trend of asset tokenization, which allows rights or ownership of physical assets, including real estate and other RWAs, to be converted into digital tokens on a blockchain. These tokens can then be traded or owned online, offering new opportunities for liquidity and ownership in traditionally illiquid markets.

DAMAC, one of the largest and most prominent developers in Dubai, is known for its vast portfolio of real estate properties and data centres. The company has been particularly active in expanding its data centre footprint worldwide.

This came as DAMAC’s Chairman, Hussain Sajwani, and US President-elect Donald Trump recently announced plans to invest $20 billion in data centres across the United States in the coming years.

In a statement, Amira Sajwani, Managing Director of Sales & Development at DAMAC, emphasised the company’s commitment to innovation and forward-thinking solutions. “DAMAC is always exploring new technologies to enhance our product offerings. Partnering with MANTRA is a natural extension of our commitment to innovation and forward-thinking solutions,” she said.

As part of the agreement, DAMAC’s assets in the Middle East will be available on the MANTRA blockchain platform starting early this year. The move is expected to further integrate DAMAC’s real estate holdings into the rapidly growing digital asset ecosystem.

This collaboration builds on MANTRA’s previous deal with MAG Property Development, a partnership announced last year to tokenize $500 million in real estate assets, beginning with a residential project in Dubai.

The United Arab Emirates (UAE) and Dubai, in particular, are positioning themselves as global hubs for digital assets and blockchain innovation. Authorities are working to attract major players from the crypto and blockchain sectors while also developing comprehensive regulatory frameworks for virtual assets.

Dubai has been a pioneer in blockchain adoption, with the Dubai Land Department launching a blockchain platform in 2017 that records real estate contracts and links them to utility and telecom accounts. The city’s embrace of blockchain technology is part of its broader goal to become a leading global centre for digital assets.

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