{"id":99528,"date":"2025-01-10T00:00:00","date_gmt":"2025-01-10T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/uae\/mantra-to-tokenize-usd-1-bn-damac-group-assets-in-the-middle-east\/"},"modified":"2025-01-10T00:00:00","modified_gmt":"2025-01-10T00:00:00","slug":"mantra-to-tokenize-usd-1-bn-damac-group-assets-in-the-middle-east","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/uae\/2025\/01\/10\/mantra-to-tokenize-usd-1-bn-damac-group-assets-in-the-middle-east\/","title":{"rendered":"Mantra to tokenize USD 1 bn Damac Group assets in the Middle East"},"content":{"rendered":"

Damac token assets to debut on Mantra:<\/strong> Blockchain startup Mantra<\/a> will tokenize at least USD 1 bn of Dubai developer Damac Group\u2019s assets in the Middle East under a new partnership agreement, according to a statement<\/a>. Damac\u2019s tokenized assets \u2014 including real estate, hospitality, and data centers \u2014 will be available on the Mantra chain early this year.<\/p>\n

Sound smart:<\/strong> Asset tokenization allows rights or ownership of assets to be converted into digital tokens on a blockchain, which can then be owned and traded online. The concept is picking up steam in the UAE, where regulators are paving the way for more mainstream use of blockchain and tokenization, and where the real estate sector attracts large amounts of investments every year. <\/p>\n

Damac is on an asset expansion roll:<\/strong> Earlier this week, the company announced a USD 20 bn investment<\/a> in US data centers. \u201cTokenizing our assets will provide investors with a secure, transparent, and convenient way to access a wide range of investment opportunities,\u201d Amira Sajwani, Damac\u2019s managing director of sales and development, said.<\/p>\n

Mantra <\/strong>\u2764\ufe0f the UAE:<\/strong> Mantra partnered with MAG Property Development in July last year to tokenize USD 500 mn<\/a> worth of real estate assets, starting with a residential project in Dubai. The Hong Kong-based blockchain also signed an MoU with digital bank Zand Bank<\/a> to facilitate the tokenization of real-world assets in June<\/a>.<\/p>\n

Remember: <\/strong>The Dubai Land Department launched a blockchain platform in 2017<\/a> to record real estate contracts and integrate them with utilities and telecom accounts. The initiative aims to position the emirate as a global hub for digital assets, including crypto, and attract leading firms.<\/p>\n","protected":false},"excerpt":{"rendered":"

The tokenized assets will be available on the Mantra chain early this year<\/p>\n","protected":false},"author":1,"featured_media":99529,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1565],"tags":[1992,7,98,1341],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-99528","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-real-estate","tag-damac-group","tag-enterpriseam-uae","tag-real-estate","tag-tech","wpautop","entry"],"acf":{"mongo_id":"72cf02a1-753f-4c05-9273-a075e08195cb","order":"7","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/10\/1036.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Mantra to tokenize USD 1 bn Damac Group assets in the Middle East","related_issue":[99517],"teaser":"The tokenized assets will be available on the Mantra chain early this year","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2025\/1\/.679fc107-e576-40b7-8e20-2871c08d05fa.mp3"},"yoast_head":"\nMantra to tokenize USD 1 bn Damac Group assets in the Middle East - 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