UAE Mag group to tokenize $500 million of real estate assets with Mantra Blockchain

UAE Mag group to tokenize $500 million of real estate assets with Mantra Blockchain

UAE based MAG Group Holding a multinational consolidation of different companies and sectors, the group’s portfolio includes real estate, contracting & engineering, industrial & commercial trading, freight services, and hospitality will tokenize $500 million worth of real estate assets with UAE based Mantra a Blockchain Layer 1 RWA ( Real world assets) tokenization platform.

As per a press release, Mantra will tokenize real estate assets in several tranches, while investors will earn yields through stablecoin and OM Tokens. The first tranche will include a residential project, Keturah Reserve, which is being built by MAG in Meydan, Dubai.

The tranche will also package a $75 million mega-mansion at ‘The Ritz-Carlton Residences, Dubai, Creekside’ development.
Investors will earn yield through stablecoins and Mantra’s OM token.

They are expected to have receive yields of 8% from the stablecoins and be granted additional OM tokens.

In June, Zand Bank PJSC, the digital bank licensed by the Central Bank of the UAE, and MANTRA, signed a Memorandum of Understanding (MOU) to streamline the process of real-world asset tokenization, including the identification, listing and distribution of RWAs.

UAE regulated Laser Digital, Nomura’s digital asset subsidiary strategically invested in MANTRA Chain, and prior to that Mantra raised $11 million for real-world tokenization. While the firm is said to be in the final stages of securing licenses from Dubai’s crypto regulator VARA.

KSA based Tokenizerly to tokenize real estate in Turkey

KSA based Tokenizerly to tokenize real estate in Turkey

KSA based Tokenizerly, a Blockchain enabled fintech startup in asset tokenization, has partnered with Funding Turkey, a leader in real estate marketing and development to revolutionize the fund and real estate market through blockchain technology. As per the agreement tokenizerly will integrate its advance tokenization platform with Funding Turkey’s extensive real estate portfolio, creating a new paradigm in property investment and ownership.

As per the press release, Tokenizerly will provide its state-of-the-art tokenization technology and technical expertise to tokenize Funding Turkey’s fund and real estate assets.

Both parties will work to obtain the necessary licenses for issuing security tokens for funding real estate units not only in Turkey but across Funding Turkey’s global operations.

Haiyan Alsaiyed stated, “We are thrilled to partner with Funding Turkey, a company that shares our vision for innovation in real estate investment. Our technology will enable investors to engage with fund and real estate like never before, making investments more fractional, accessible, and efficient.”

Serkan Topktas remarked, “This partnership with Tokenizerly marks a significant milestone in our mission to embrace emerging technologies. By tokenizing our assets, we’re not just transforming the way people invest in fund and real estate but also ensuring a more secure and accessible market for investors worldwide.”

This is the second partnership Tokenizerly signs within the month of May. The first was with ParisAline, a global leader in invisible orthodontic treatments. The collaboration aims to revolutionize funding mechanisms in the healthcare sector through the use of advanced blockchain technologies.

Dubai’s RTA to build Blockchain NFT platform for real estate

Dubai’s RTA to build Blockchain NFT platform for real estate

Dubai’s Roads and Transport Authority (RTA) has signed an MOU with SmartCrowd Holding Ltd, the parent company of SmartCrowd Ltd., licensed by the Dubai Financial Services Authority (DFSA), a digital platform specializing in real estate investment and crowdfunding across the Middle East and North Africa.

The MoU aims to develop a Blockchain NFT ( non-fungible token) digital platform, to attract investments for real estate and public facilities that RTA plans to establish and implement in the Emirate of Dubai in the future, such as rest areas, which include retail stores and various service centers with continuous investment returns.

The official signing event was held at RTA’s Head Office, with Ahmed Hashim Bahrozyan, CEO of RTA’s Public Transport Agency, representing RTA, and Siddiq Farid, Founder and CEO of SmartCrowd.

Bahrozyan commended SmartCrowd for spearheading evolution in real estate investing by leveraging regulations and smart applications of the latest technologies, such as blockchain. This MoU was signed on the back of SmartCrowd’s efforts to pilot a blockchain-based platform in Pakistan in 2022, aligning with RTA’s commitment to adopt trending technologies across its applications and services.

“The signing of this MoU is a significant step that marks RTA’s entry into the realm of investment in digital and non-fungible assets for public facilities and real estate. The move is expected to open new opportunities for RTA to increase and diversify its revenues and enable a wider segment of the community to enter in these investments, which do not require large capital,” Bahrozyan said.

“This initiative forms an integral part of RTA’s partnership with the private sector and is poised to enhance Dubai’s profile as a regional economic powerhouse in the landscape of a global economy. It will also develop RTA’s ambition to achieve financial sustainability as a key strategic goal and foster partnerships with the private sector, known for its innovative and creative potential, especially in the digital economy.”

Siddiq Farid, Founder and CEO of SmartCrowd stated, “This partnership validates our futuristic thinking as we keep up with fast-evolving technology. SmartCrowd has consistently been at the forefront of innovation, establishing the region’s first digital real estate platform from both regulatory and technological standpoints. Looking ahead, we are strategically leveraging emerging technologies to take our initiatives to the next level.

“We feel blessed to be in a country where innovation is not only fostered but championed. Partnering with a government entity that shares the same vision is especially exciting, as it allows us to deliver unique opportunities for everyone to be a part of this city’s tremendous growth.”

RTA is not the first governmental transportation entity to utilize blockchain, Oman Transport Ministry is also piloting a blockchain solution.

Blockchain AI real estate DAO sets up in UAE

Blockchain AI real estate DAO sets up in UAE

BrickLayer DAO a tokenized RWA platform built on Blockchain, and AI, for real estate has set up in the UAE and is seeking a license from FSRA in ADGM (Abu Dhabi Global Market) as well as a license in VARA (Dubai’s virtual asset regulatory Authority).

According to their website, Bricklayer platform is fueled by AI and virtual assets, providing a decentralized Blockchain access to institutional grade real estate. It also offers over-leverage crypto holders with access to institutional real estate without sacrificing the speculative gains, providing consistent change to real yield dividends in ‘$MORTAR’.

As per their website and linkedIn post, Bricklayer DAO is in the process of being regulating under FRSA, VARA and UAE common law, giving a legal layer of protection to investors.

Nick Prescott one of the founders who was a former executive at Amazon and now the co-founder of BrickLayer explored blockchain but faced uncertainty in picking genuine projects. Nick’s frustration with corporate hierarchies fueleda quest for a blended solution—a platform combining blockchain’s speculative nature with REIT’s stability, all while giving investors a voice.

Nick delved into DAOs, decentralized environments where everyone’s voice matters. After completing a cryptocurrency course at MIT, he left Amazon and founded Bricklayer. This real estate fund, powered by Ethereum blockchain, adopted a decentralized strategy influenced by $BRICKS token holders. It offered a unique blend of speculation, hedged with one of the safest of asset classes.

Bricklayer is now incorporated the UAE. Bricklayer aspires to become the Robinhood of real estate, reshaping the traditional landlord-occupier dynamic. As stated, “We’re committed to increasing leasehold flexibility and reducing occupational costs, forging partnerships with occupiers to create a more equitable and flexible real estate ecosystem. Bricklayer is dedicated to advancing blockchain adoption within the real estate industry. We’re on a mission to persuade vendors to embrace virtual assets as a valid form of exchange in real estate transactions, ushering in a new era of efficiency and transparency.”

Tokenization of real estate in UAE is picking up with recent Desert Pearl project.

UAE luxury real estate Group BENMARG to offer crypto payments with UBITQUITY

UAE luxury real estate Group BENMARG to offer crypto payments with UBITQUITY

UBITQUITY, a blockchain and real estate technology company for Real World Assets for web3 is thrilled has partnered with BENMARG Group, a luxury real estate agency based in Dubai, UAE. This to enhance the luxury real estate market by showcasing BENMARG Group’s exquisite property listings on CryptoListing, a prominent platform for real estate transactions using cryptocurrencies as well as enabled cryptocurrency transactions for these luxury properties through UBITQUITY’s innovative UbitquityPay service.

BENMARG Group is renowned for curating an exclusive portfolio of luxury real estate offerings in Dubai and beyond. The company’s commitment to delivering exceptional properties that cater to the most discerning clientele aligns perfectly with the capabilities of CryptoListing and UbitquityPay.

CryptoListing, a bleeding-edge platform, provides a secure and transparent environment for the purchase and sale of real estate using cryptocurrencies. This collaboration will allow BENMARG Group to tap into the growing global market of cryptocurrency enthusiasts and investors who seek luxury properties as a store of value and investment.

UBITQUITY, LLC’s UbitquityPay service is designed to streamline cryptocurrency transactions for real estate, offering both buyers and sellers a simplified and efficient process. This service will enable BENMARG Group’s clients to seamlessly complete cryptocurrency transactions when purchasing these high-end properties.

“We are excited to collaborate with UBITQUITY, LLC, to bring our luxury real estate listings to the CryptoListing platform. This partnership allows us to cater to a tech-savvy and global audience while providing a secure and efficient way to transact in cryptocurrencies,” said George Gabriel of BENMARG Group.

“BENMARG Group’s commitment to excellence in luxury real estate aligns perfectly with our mission to bring innovation to the real estate industry. We look forward to enabling seamless cryptocurrency transactions for their prestigious properties through UbitquityPay,” said Nathan Wosnack, Founder & CEO of UBITQUITY.

Representatives from both BENMARG Group and UBITQUITY are currently at the Future Blockchain Summit in Dubai, UAE.

Concurrently UBITQUITY and Women in Blockchain Canada have joined Forces to Fundraise and Forge Enterprise Partnerships as well as bring its tech innovations to MENA at Future Blockchain Summit.

Bahrain EazyPay and Binance follow CoinMENA’s lead offering crypto payments in real estate

Bahrain EazyPay and Binance follow CoinMENA’s lead offering crypto payments in real estate

Bahrain real estate developer Bin Faqeeh Real estate Investment Company announced that clients can buy apartments or houses using cryptocurrencies. Bin Faqeeh will be offering crypto payment services with Bahrain financial service provider EazyPay POS terminals.

Binance Co-Founder and CEO, Changpeng Zhao tweeted about Bin Faqeeh Real Estate Company accepting Crypto Payments via Binance Pay through Eazy Financial Services. EazyPay and Binance had signed a partnership in Q4 2022 to offer crypto payment services to EazyPay’s 5000 plus POS terminals.

Prior to this Bahrain CoinMENA crypto broker partnered with Carlton Real Estate, a Bahrain-based real estate agency, allowing clients to buy real estate property using crypto assets. Under the partnership, Carlton real estate would accept stablecoins like USDT and USDC.

The UAE as well has been offering clients the ability to pay for real estate in cryptocurrencies. In May 2022 UAE Properties developer Nakheel and Abu Dhabi based crypto exchange Hayvn partnered to offer crypto payment options for Nakheel clients. Nakheel clients are able to pay for their rent, service fee, and real estate purchases in cryptocurrency.

Other real estate developers in UAE also are offering crypto payment services, such as DAMAC, SAMENA developers and more. In March UAE based Real estate and industry experts estimated that crypto payments for Dubai real estate increased by 300 percent in 2022. Majority of buyers are using stablecoins such as Tether, USDT as well as Bitcoin and Ethereum.

Even UAE Property Consultancy firm, Your place partnered with Utrust, a cryptocurrency payment solution designed to modernize the finance and payments industry offers clients the ability to pay for properties in Dubai UAE using cryptocurrencies. Recently Utrust is now enabling crypto payments for luxury hotels in the UAE. BM Hotels & Resorts luxury hotel chain is accepting digital currencies using Utrust.

Japanese Fintech Blockchain firm and Al Fardan Ventures join hands to digitize real estate investment in MENA

Japanese Fintech Blockchain firm and Al Fardan Ventures join hands to digitize real estate investment in MENA

Japanese Fintech firm and UAE Al Fardan ventures have partnered to launch a blockchain real estate investment platform.  Japanese Fintech startup, Canaan Advisors and UAE Al Fardan Ventures have partnered to introduce Canaan Advisors’ Zenihub platform, a blockchain blockchain-based real estate investment platform that focuses on fractionalizing properties in emerging markets to the UAE. 

The venture will be led by Mr. Mohammed Ebrahim Al Fardan, a global technology leader from the Arab world with more than 33 years of experience, spanning from major multinational technology firms to investment firms, and with a strong and solid global network in gaming, artificial intelligence, Mixed Reality, FinTech, Blockchain, Internet-of-Things, and metaverse.

Tokumasa Yamashita, Founder of Canaan Advisors, stated, “There are lots of attractive real estate investment opportunities in the MENA region that are only accessible by a small group of extremely wealthy investors. We look forward to unlocking these investment opportunities and making them accessible to people of all income levels!” said Yamashita.

Yamashita adds, “Our vision is to make high-yielding real estate investment opportunities in emerging markets easily accessible to anyone. Our partnership with Mohammed E. Al Fardan enables us to enter the MENA market and expand our global footprint, and we are very excited about this opportunity

Said Mohammed E. Al Fardan explained, “Digitizing Real Estate assets has always been an important element in my plans, those who read my articles will remember that. It is time to make the MENA region a major global player in the industry. We will be revolutionizing the real estate investment market enabling everyone to invest in real estate project by digitizing the assets.”

UAE blockchain enterprise entity bags Pakistan New City deal

UAE blockchain enterprise entity bags Pakistan New City deal

UAE based Blockchain enterprise, Shaariq.com, an end-to-end real estate platform of Vision Tech has partnered with Pakistan-headquartered JK&S Developers, a real estate arm of the renowned Saif Group. to facilitate sales in JK&S Developers’ highly anticipated project D.I. Khan New City.

Shaariq.com will leverage its enterprise blockchain capabilities to ensure secure, transparent, and seamless transactions. Shaariq.com will also ensure D.I. Khan New City becomes an early mover in adopting blockchain at an enterprise level. Shaariq.com will create a digital twin of the project in the metaverse to enable efficient urban planning and optimize the delivery of public services such as healthcare and groceries. NFT linked transactions on the blockchain will bring greater security, transferability, and future readiness. D.I. Khan New City will also characterize AR-VR and AI applications on multiple fronts.

Dubbed the “Crown of Pakistan”, the D.I. Khan New City is a hybrid development in Saiduwali, Paharpur, an area with close proximity to Punjab, Khyber Pakhtunkhwa, Islamabad, and Balochistan. The development, which spans an expansive area of 4.1 million sq. m, is valued at a whopping $233 million U.S., making it one of the most ambitious projects of its kind in Pakistan.

Rajab Ali Virani, CEO of Vision Tech stated,  “Shaariq.com ventured into Pakistan with a grand vision: Enhancing transactional efficiency and reducing the trust deficit by leveraging cutting-edge technologies such as blockchain. D.I. Khan New City is the ideal avenue to turn that vision into reality. We are determined to make this project an archetype of Pakistan’s real estate excellence while reinforcing our competitive edge in tech-enabled services.”

 “The Saif Group has nearly a hundred years of multi-industrial pedigree in Pakistan. At every juncture, we have exemplified the latest innovations of the time. D.I. Khan New City is a totem of our future-proof strategy and a legacy of our people-centric worldview. The MoU with Shaariq.com complements both these priorities,” said Jehangir Saifullah Khan, Chairman, JK&S Developers. 

Vision Tech is planning an expansion into African countries, where, through Shaariq.com, it intends to digitalize land records with the support of local authorities.

KSA Property developer issues NFTs for its Oman project

KSA Property developer issues NFTs for its Oman project

KSA’s Dar Al Arkan Real Estate Developer will drop a limited number of utility NFTs ( Non  fungible tokens) for its Oman AIDA project. The comments were made in an interview with AGBI media.

The $1.6 billion project AIDA, is the largest premium, mixed-use urban developments in Oman. It is a partnership between Dar Al Arkan and the Oman Tourism Development Company (OMRAN Group) to drive the development of the Gulf state’s property market and support the growth of Oman’s real estate sector as part of Oman Vision 2040.

Ziad El Chaar, vice chairman of Dar Al Arkan Real Estate Development, said in the interview, “We are dropping 500 NFTs in the middle of October, which are utility tokens for our project AIDA in Oman.  If you are a holder of that NFT, you have a priority in booking in any launch of the project. This has a lot of value.

He added that those who booked in Dar Al Arkan Pagani project in December made 25 percent profit as prices went up.

The NFT will also give holders other advantages in the development, such as priority booking at hotels or at the golf club.

Located in the Yiti area of Muscat, overlooking the Sea of Oman, the project will feature 3,500 residential units of medium-sized villas, townhouses and low-rise apartments, two hotels, a plaza filled with cafes and restaurants, and a gated promenade with luxury retail and other amenities.

The project will be developed in three stages, on an area of 3.5 million square metres, and marks Dar Al Arkan’s first entry into Oman.

El Chaar stressed that while tokens continue to attract hype and sell for large sums, they must have utility. He explained, “Most NFTs [are like] ‘I’m Snoop Dogg [and] I’m launching an NFT’, [or] you have some fashion brands that launched NFTs. Our NFT has a utility and it can be redeemed. And at any time if you say I don’t want this token anymore, you can put it as a down payment on an apartment or a villa. We will redeem it for you for a purchase.”

Stratez Capital and Newtek to develop tokenized commodity trading on the Blockchain

Stratez Capital and Newtek to develop tokenized commodity trading on the Blockchain

Singaporean, Stratez Capital with offices in UAE, a boutique firm that focuses on assisting enterprises who are planning to elevate to the next phase of growth, has partnered with NewTek Holdings to develop tokenized commodity trading and real-estate projects on the Blockchain.

As per the press release, the Middle East has been identified by NewTek as a priority market, and the company is initially looking to focus on major real estate projects in Dubai.  “This is an exciting partnership, and in line with the investment and strategy objectives of the company, and we feel we can add huge value with our expertise and investments. NewTek brings real asset value and a clear vision in one of the fastest growing areas where real world assets combine with future Web3 and blockchain technology,” said Vik Pillai, Managing Partner at Singapore-based Stratez, announcing the agreement today.

Qurashi, CEO of London-based NewTek, said: “I’ve been very impressed by the depth and variety that Stratez brings to this new partnership, and am thrilled to be working with them. NewTek sets out to integrate the technology behind blockchain, NFTs and Web3 into the world of real estate and commodity trading. We have clear objectives, and I’m confident that Stratez can play a key role in turning our vision into reality.”

NewTek is a newly-formed company set up by Safi Qurashi, a serial entrepreneur and property developer. Over the last 25 years, Qurashi has founded several successful startups, including one of the first internet cafes in London in 1996 and a successful real estate company in Dubai. Other ventures included an armoured vehicle manufacturing company and a facility management firm in the UAE. Qurashi is the co-owner of Great Britain Island in Dubai’s World Islands project.

Qurashi added, “This partnership connects us with some very impressive Stratez partners, and I’m looking forward to the opportunity to work with world-renowned luxury brands. We’ll be announcing more details about the new venture in the coming weeks. But basically we’re working to allow the fractionalization of exclusivity within the two safest real life asset classes, real estate and commodities.”

As per his linkedIn, Newtek is working on tokenizing commodities making them accessing to all. Nire is on of the first ventures of Newtek and now live and trading.