MANTRA- DAMAC Partnership Highlights Growing Trend of RWA Tokenization

Blockchain platform MANTRA has signed a landmark agreement with Dubai-based developer DAMAC Group to tokenize real-world assets (RWAs) in the Middle East worth at least $1 billion. The initiative highlights the growing trend of asset tokenization, which transforms ownership or rights to physical assets into digital tokens on a blockchain, enabling online trading and ownership.

DAMAC, a leading developer with extensive real estate and data center holdings, has been expanding its global data center investments. In a recent announcement, DAMAC Chairman Hussain Sajwani revealed a $20 billion investment plan for U.S. data centers in collaboration with U.S. President-elect Donald Trump.

Amira Sajwani, Managing Director of Sales & Development at DAMAC, emphasized the company’s focus on innovation: “Partnering with MANTRA is a natural extension of our commitment to forward-thinking solutions and enhancing our product offerings.” The tokenized assets will be available on the MANTRA chain early this year, opening new opportunities for investment and trade.

This is not MANTRA’s first foray into real estate tokenization in Dubai. Last year, the platform collaborated with MAG Property Development to tokenize $500 million worth of real estate, starting with a residential project in the city, which serves as a major hub for tourism and business in the Gulf.

Dubai has emerged as a global leader in the digital asset space, actively working to attract key players in the crypto and blockchain industries. The United Arab Emirates has also been developing a comprehensive framework for virtual asset regulation. Notably, the Dubai Land Department launched its blockchain platform in 2017 to digitize real estate contracts, leases, and registrations, linking them to utility and telecom accounts.

With this latest partnership, DAMAC and MANTRA are poised to further Dubai’s ambitions of becoming a global center for digital assets and blockchain innovation.