Dubai Developer Explores Asset Tokenisation for Real-World Assets
Dubai-based real estate developer DAMAC Group has entered into a $1 billion partnership with blockchain platform MANTRA to tokenise real-world assets (RWAs) across the Middle East. The collaboration highlights Dubai’s continued push to become a global hub for digital assets and blockchain innovation.
What Is Asset Tokenisation?
Asset tokenisation converts ownership rights to real-world assets, such as real estate or data centres, into digital tokens stored on a blockchain. These tokens can then be traded securely and transparently online, offering a modern approach to property investment and management.
DAMAC’s Commitment to Innovation
DAMAC, one of the largest developers in Dubai, has a diverse portfolio that includes real estate properties and global data centres. This new partnership with MANTRA will make DAMAC’s assets in the Middle East available on the MANTRA blockchain by early 2025.
Amira Sajwani
DAMAC’s Managing Director of Sales & Development
Amira Sajwani, emphasized:
“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.”
Broader Impact and UAE’s Blockchain Vision
- Investments in Data Centres: DAMAC is also making significant investments in U.S. data centres, with plans to invest $20 billion in the coming years.
- Expanding Blockchain Use: The United Arab Emirates continues to position itself as a leader in blockchain and virtual asset development. The Dubai Land Department launched a blockchain platform in 2017, streamlining property records and contracts.
- Regional Collaborations: This is not the first foray into blockchain for MANTRA, which previously partnered with MAG Property Development to tokenise $500 million worth of real estate assets.
With DAMAC and MANTRA’s agreement, Dubai further solidifies its standing as a key player in global blockchain and digital asset markets.
