DAMAC partners with MANTRA to tokenise $1bn in real-world assets

DAMAC Group has entered into a strategic partnership with blockchain firm MANTRA to tokenise real-world assets (RWAs) in the Middle East.

This alliance marks a significant step in driving the adoption of blockchain technology to enable fractional ownership and tokenised real estate investment opportunities.

With the real estate market in the Middle East continuing to grow, this collaboration aims to open up new avenues for investors to access previously untapped segments of the market, particularly by overcoming traditional barriers in real estate investment.

Key move for the DAMAC Group

The partnership will focus on token-based financing for a range of assets, spanning real estate, hospitality, data centres, and other critical sectors. The initiative targets assets with a minimum value of $1bn, leveraging DAMAC’s broad portfolio of companies.

Amira Sajwani, MD of Sales and Development at DAMAC Group, said, “We are 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.

“Tokenising our assets will provide investors with a secure, transparent, and convenient way to access a wide range of investment opportunities.”

This strategic move aligns with DAMAC’s goal of opening up real estate investment opportunities in the Middle East, making it more accessible to a global pool of investors, and enabling fractional ownership for individuals who may have previously been excluded from high-value assets.

Tokenisation and blockchain technology to enhance investor access

The group’s assets will be available on MANTRA Chain in early 2025, exclusively through the blockchain platform.

This marks a critical development in integrating blockchain technology to enhance the transparency, security, and accessibility of DAMAC Group’s diverse assets.

The partnership is expected to be a game-changer in the way real estate is financed and invested in the region.

John Patrick Mullin, CEO and co-founder of MANTRA, highlighted the significance of the collaboration, stating, “This partnership with DAMAC Group is an endorsement for the RWA industry.

“We’re thrilled to partner with such a prestigious group of leaders that share our ambitions and see the incredible opportunities of bringing traditional financing opportunities onchain.”