MAG Group Expands into the Tokenization Market with a $3 Billion Deal with MultiBank Group

UAE conglomerate MAG, a real estate developer, which had previously signed a $500 million deal with Mantra Chain, has now signed an even bigger tokenization deal.

MultiBank Group, a financial derivatives institution in Dubai and Blockchain tokenization infrastructure provider Mavryk are partnering to integrate a $3 billion portfolio of high-value real estate assets from MAG onto MultiBank.io’s RWA marketplace.

The partnership will bring MAG’s high-value real estate developments, such as The Ritz-Carlton Residences, Dubai, Creekside, part of the Keturah Resort, and Keturah Reserve, onto the blockchain.

Once launched, the RWA assets will be available to global investors via MultiBank.io’s fully regulated RWA marketplace.

Holders of the RWA assets will also be able to earn yield, which will be distributed daily on the MultiBank.io platform.

The $MBG token will power access, staking, fee payments, and platform engagement, positioning it as the infrastructure layer behind institutional-grade digital asset offerings.

Mavryk will deliver the layer 1 blockchain infrastructure that will enable the seamless integration of MAG’s illiquid properties into tradable digital assets.

MultiBank Group will handle regulatory compliance, secondary market liquidity, and platform governance.

“At MAG, we are constantly driven by excellence and a passion for shaping the property landscape of tomorrow. Partnering with MultiBank Group marks a significant milestone as we strive to broaden access to our high-value developments and liquidity via blockchain technology,” said Talal Moafaq Al Gaddah, Senior Executive Vice Chairman of MAG.

“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. We are excited to work with Mavryk to launch these assets in Q4 2024,” said Zak Taher, Founder and CEO of MultiBank.io.

Earlier this year, rumors had circulated that MultiBank was planning to launch its own BChain token, aiming to attract new users to its platform.

In July 2024, Mantra and UAE-based MAG Group Holding announced plans to tokenize $500 million worth of real estate assets.

Announced via a joint statement, the partnership will also see the launch of a new yield product for Mantra Chain’s ecosystem.

The announcement noted that Mantra Chain would tokenize real estate assets in several tranches, while investors would earn yields through stablecoin and OM Tokens.

The first tranche would include a residential project, Keturah Reserve, which is being built by MAG in Meydan, Dubai. The tranche will also package a $75 million mega-mansion at “The Ritz-Carlton Residences, Dubai, Creekside” development.

Investors will earn yield through stablecoins and Mantra’s OM token.

Given that the new announcement with MultiBank discusses the same properties mentioned previously in their announcement with Mantra Chain, it appears MAG has dropped its agreement with Mantra Chain and has decided to tokenize all its properties with MultiBank.