Mantra to Tokenize $500M Real Estate Assets for UAE Builder MAG Group
Summary
Mantra Chain is set to tokenize $500 million worth of assets belonging to Dubai-based real estate developer MAG Group. The tokenization will occur in multiple tranches, with the first including a residential project, Keturah Reserve, and a $75 million mansion at 'The Ritz-Carlton Residences, Dubai, Creekside' development. Investors will earn yield through stablecoins and Mantra's OM token, with expected yields of 8% from the stablecoins and additional OM tokens. The specifics of the yield are still under discussion. Mantra Chain previously raised $11 million for real-world tokenization and is in the final stages of securing licensures from Dubai’s crypto regulator VARA.
