Patrick

United

Million

MANTRA

<a href="https://www.mantrachain.io/" target="_blank" rel="noopener noreferrer nofollow">MANTRA</a>, the Institutional-grade Layer 1 blockchain for tokenized RWAs, and <a href="https://mag.global/" target="_blank" rel="noopener noreferrer nofollow">MAG</a>, a top real estate developer in the United Arab Emirates, announced a major collaboration today that will lead to the tokenization of MAG’s real estate portfolio worth half a billion US dollars, marking an important milestone in the global tokenized real world asset sector.
With MAG’s entire real estate portfolio&nbsp;valued at over US$5 billion, the partnership with MANTRA seeks to transform real estate investing by using blockchain technology. Beginning with <a href="https://keturahreserve.ae/" target="_blank" rel="noopener noreferrer nofollow">Keturah Reserve</a>, a posh residential development&nbsp;in Meydan, Dubai, that provides transformative living via space design, the collaboration will launch a real estate financing&nbsp;vault on MANTRA’s specifically built, compliance-ready Layer 1 blockchain. This initial&nbsp;vault product is underpinned by the security of blockchain technology and offers investors an appealing yield&nbsp;from a different asset class.
With projects to be tokenized that are structured in numerous tranches and an aggregate transaction value of US$500 million, MANTRA and MAG will be well-positioned as market leaders in the Middle East’s tokenized real estate market.
Stablecoins and $OM tokens will produce yield for vault investors, with stablecoins providing an estimated 8% APY projected return, which will be further increased by $OM tokens.
In addition, the initial vault will be backed by MAG’s corporate credit and over-collateralized by a US$75 million mega mansion at the Keturah Resort’s “The Ritz-Carlton Residences, Dubai, Creekside” development. This will provide strong investor protection while also leading the way in tokenization-based real estate investment.
John Patrick Mullin, CEO and Founder of MANTRA, stated:
<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow">
 “Partnering with MAG represents a major milestone in our mission to bridge blockchain with tangible assets, with a special focus on the Middle East. This venture will set new standards in real estate tokenization, offering global investors access to premium real estate assets in the UAE.”
</blockquote>
Talal Moafaq Al Gaddah, CEO of MAG Lifestyle Development, commented:
<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow">
 “Working with MANTRA allows us to leverage cutting-edge blockchain technology to enhance the value and accessibility of our real estate offerings. This strategic collaboration is pivotal and forward-facing as we continue to innovate and lead in luxury real estate development.”
</blockquote>

MANTRA and MAG Collaborate to Tokenize $500 Million in UAE Real Estate

TheNewsCrypto

Інші статті, опубліковані 3 лип. 2024 р.

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