Damac Group has partnered with Mantra to tokenize its real-world assets (RWAs) in the Middle East, enabling token-based financing for a diverse range of assets, spanning real estate, hospitality, data centers, and other critical sectors.
Mantra aims to tokenize assets within Damac Group’s extensive portfolio of companies with a minimum value of $1 billion. The Damac Group assets will be available in early 2025, exclusively on Mantra Chain, leveraging blockchain technology to bring greater transparency, security, and accessibility to Damac Group’s wide-ranging assets.
Through this partnership, Mantra seeks to address traditional limitations in real estate investment and open up opportunities for investment in the Middle East’s property market while also establishing the company as a preferred ledger of record for real-world assets.
John Patrick Mullin, CEO & Co-Founder of Mantra stated: “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.”
Amira Sajwani, Managing Director of Sales & Development at Damac, said: “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. Tokenizing our assets will provide investors with a secure, transparent, and convenient way to access a wide range of investment opportunities.”