MAG & MultiBank Group Partner to Tokenize $3B in Real Estate
MAG, a prominent real estate developer in the United Arab Emirates (UAE), has entered into a significant $3 billion tokenization agreement with MultiBank Group, a leading global financial derivatives institution headquartered in Dubai, and Mavryk, a pioneering blockchain technology company. This collaboration represents a major step forward in the adoption of blockchain technology within the real estate sector, and is currently the largest real-world asset (RWA) tokenization initiative globally.
This strategic partnership is closely tied to the upcoming launch of MultiBank’s utility token, $MBG, which will serve as the core component of the institution’s next-generation digital finance ecosystem. The tokenization of MAG’s high-value real estate assets is a key use case designed to showcase the capabilities and potential of the $MBG token.
Tokenizing Premium Real Estate:
The agreement will involve bringing several of MAG’s prestigious real estate developments onto the blockchain. These include:
- The Ritz-Carlton Residences, Dubai, Creekside: A luxury residential development offering high-end amenities and waterfront views.
- Keturah Resort: A comprehensive lifestyle destination featuring residences, hospitality, and retail components.
- Keturah Reserve: Another upscale residential community within the Keturah development.
By tokenizing these properties, MAG aims to make these high-value assets accessible to a wider pool of global investors through MultiBank.io’s fully regulated RWA marketplace. This move is expected to increase liquidity and democratize access to prime real estate investments, which have traditionally been limited to institutional or high-net-worth individuals.
Yield Generation and the $MBG Token:
Once the tokenized real estate assets are launched on the MultiBank.io platform, holders of these assets will have the opportunity to earn yield, which will be distributed daily. This feature is designed to attract investors seeking both capital appreciation and regular income from their real estate holdings.
The $MBG token will play a central role in the MultiBank.io ecosystem, serving multiple functions:
- Access: Providing users with access to tokenized assets and various platform features.
- Staking: Enabling users to participate in the platform’s governance and potentially earn rewards.
- Fee Payments: Facilitating transactions and other activities within the ecosystem.
- Platform Engagement: Driving user interaction and participation in the MultiBank.io platform.
These functionalities position $MBG as the fundamental infrastructure layer supporting a range of institutional-grade digital asset offerings. MultiBank envisions $MBG becoming a key component of the future of digital finance.
Roles and Responsibilities:
The partnership outlines specific roles and responsibilities for each of the participating companies:
- MAG: Will provide its portfolio of premium real estate developments for tokenization, contributing the underlying assets to the initiative.
- Mavryk: Will be responsible for delivering the necessary blockchain infrastructure to support the on-chain issuance of the tokenized assets and their integration with decentralized finance (DeFi) protocols. This includes the technical architecture, smart contract development, and platform deployment.
- MultiBank Group: Will leverage its expertise in financial services and regulatory compliance to oversee the regulatory aspects of the tokenization process, ensure compliance with applicable laws, provide secondary market liquidity for the tokenized assets, and manage the overall governance of the MultiBank.io platform.
This division of responsibilities leverages the strengths of each company, combining MAG’s real estate expertise, Mavryk’s blockchain technology, and MultiBank Group’s financial and regulatory capabilities.
Expanding the Scope of Tokenization:
Talal Moafaq Al Gaddah, Senior Executive Vice Chairman of MAG, emphasized the company’s vision and the significance of the partnership: “At MAG, we have always been driven by excellence and a passion for shaping the property landscape of tomorrow. Partnering with MultiBank Group marks a milestone in broadening access to high-value developments and unlocking liquidity via blockchain.”
Zak Taher, Founder and CEO of MultiBank.io, highlighted the broader implications of the initiative for the $MBG token and the future of digital finance: “This isn’t just a real estate deal — it is a flagship use case for the $MBG token. By enabling seamless access to $3B in tokenized property, MultiBank becomes the bridge between regulated finance and next-generation investment infrastructure.”
The initial tokenization of $3 billion in real estate assets is just the first phase of a larger vision. The MultiBank.io platform is designed to be scalable, with the capacity to support up to $10 billion in assets. This scalability positions the platform to play a major role in the emerging landscape of programmable ownership and compliant digital investing, with the $MBG token serving as a foundational element.
This partnership between MAG, MultiBank Group, and Mavryk signifies a crucial step in bridging the gap between traditional real estate investment and the evolving world of digital assets. By leveraging blockchain technology, the initiative aims to increase transparency, efficiency, and accessibility in the real estate market, potentially attracting a new wave of global investors and paving the way for further innovation in the financial industry.
