MAG signs strategic partnership with Multibank Group to tokenise real estate assets

MAG, a prominent UAE-based real estate developer, has entered into a landmark $3 billion (AED 11.2 billion) tokenization agreement with MultiBank Group. This partnership aims to digitize MAG’s high-value real estate assets, including The Ritz-Carlton Residences, Dubai, Creekside, and Keturah Reserve, by leveraging blockchain technology.(Construction Week Online, UpperNews)

Key Highlights:

  • Tokenization of Real Estate Assets: The agreement will enable the conversion of MAG’s premium properties into digital tokens, allowing for fractional ownership and broader investor participation.
  • Utilization of Blockchain Infrastructure: The collaboration involves Mavryk, a blockchain tokenization infrastructure provider, to facilitate the on-chain issuance of assets and integration with decentralized finance (DeFi) platforms.(UpperNews)
  • Regulatory Compliance and Governance: MultiBank Group will oversee regulatory adherence, manage secondary market liquidity, and ensure robust platform governance to maintain investor confidence.(UpperNews)
  • Enhanced Investor Accessibility: Through MultiBank.io’s regulated Real World Asset (RWA) marketplace, global investors will have the opportunity to invest in MAG’s tokenized properties, receiving daily yield distributions.(UpperNews)
  • MultiBank signs $3 billion real estate tokenization deal with MAG

This strategic move signifies a significant advancement in integrating blockchain technology within the real estate sector, aiming to enhance liquidity, transparency, and accessibility for investors worldwide.