UAE DAMAC Group, with a portfolio of real estate developments, hospitality, data centers and more has signed an agreement with UAE based Mantra blockchain to tokenize the company’s asset for financing.

As per the press release, the collaboration between MANTRA and the DAMAC Group will enable token-based financing for a diverse range of assets within the group’s extensive portfolio of companies, with a minimum value of US$1 billion.

The DAMAC Group assets will be available in early 2025, exclusively on MANTRA Chain. DAMAC Group is leveraging blockchain technology to bring greater transparency, security, and accessibility to DAMAC Group’s wide-ranging assets.

“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,” said John Patrick Mullin, CEO of MANTRA.

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.”

This comes days after DAMAC Group announced investing $20 billion in datacenters in the USA.

Additionally this is not the first partnership for MANTRA. In November 2024, MANTRA, partnered with Libre Capital, a UAE-headquartered financial instruments tokenization and issuance platform, to provide investors with onchain access to a diverse range of attractive investment funds.

While in July 2024, UAE based MAG Group Holding a multinational consolidation of different companies and sectors, announced it would tokenize $500 million worth of real estate assets with UAE based Mantra Blockchain.