Patrick

United

MANTRA

Reserve

Real-World asset tokenization protocol Mantra partnered with United Arab Emirates (UAE) real-estate developer MAG to tokenize $500 million of its portfolio. 
According to a July 3 Mantra announcement, MAG’s total real estate portfolio is currently valued at over five $5 billion and the firm is starting its tokenization from <a href="https://keturahreserve.ae/">Keturah Reserve</a> — a luxury residential development in Meydan, Dubai. Talal Moafaq Al Gaddah, CEO of MAG Lifestyle Development, said: 
"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." 
Mantra is a layer-1 protocol specifically developed for real-world asset tokenization, meant to comply with regulatory burdens. The <a href="https://www.mantrachain.io/">project’s website</a> describes the blockchain in question as a “permissionless chain for permissioned applications.” 
The tokens that will be launched as a result of the collaboration are going to be released in tranches. Investors will earn yield in stablecoins and OM tokens, with the announcement promising an “approximate expected return” of 8% annual percentage yield from stablecoins alone. 
The initial investment vault will be over-collateralized by the $75 million-valued mansion at the Ritz-Carlton Residences in Dubai and backstopped by MAG’s corporate credit. Mantra founder and CEO John Patrick Mullin said: 
<blockquote> 
 "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> 
Mag is seemingly an rapidly-growing real-estate enterprise. Back in late January <a href="https://www.investmentmonitor.ai/news/mag-to-open-new-residential-project-in-switzerland/">the firm announced plans</a> to invest $212.62 million to develop a new residential project in Stabio, Switzerland. 
This is also far from being Mantra’s news of this kind. Back in late March, the <a href="https://www.coindesk.com/business/2024/03/19/mantra-chain-raises-11m-for-rwa-tokenization-with-middle-east-tint/">protocol raised $11 million</a> for a real-world asset tokenization project in the Middle East. 
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

$500M of UAE real estate tokenized in MAG & Mantra partnership

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