UAE developer inks world's largest real estate tokenisation deal
The partnership will bring MAG's high-value real estate developments — The Ritz-Carlton Residences, Dubai, Creekside, which is part of the Keturah Resort, and Keturah Reserve — onto the blockchain, making them available to global investors via MultiBank.io's fully regulated RWA marketplace. Once launched, holders of the RWA assets will be able to earn yield distributed daily on the MultiBank.io platform.
On March 19, the Dubai Land Department (DLD) launched the pilot phase of the Real Estate Tokenisation Project, which seeks to diversify property ownership by allowing multiple investors to co-own a single property through tokenised real estate assets.
Real estate tokenisation transforms real estate assets into digital tokens using blockchain technology. Each asset is divided into shares based on an investor's budget and financial strategy, enabling fractional property ownership.
The initiative highlights the imminent launch of $MBG, the utility token at the core of MultiBank's next-generation digital finance ecosystem. The $MBG token will power access, staking, fee payments, and platform engagement, positioning it as the infrastructure layer behind institutional-grade digital asset offerings.
The initial tokenisation of $3 billion is just the beginning. The platform is built to scale up to $10 billion in assets, setting the stage for a new era of programmable ownership and compliant digital investing — with $MBG at its foundation.
As part of the agreement, MAG will provide its premium real estate inventory for tokenisation, while Mavryk will deliver the blockchain infrastructure to support on-chain asset issuance and DeFi integrations. MultiBank Group will oversee regulatory compliance, secondary market liquidity, and platform governance — all reinforced by the $MBG token's multi-layered utility.
Talal Moafaq Al Gaddah, Senior Executive Vice Chairman of MAG, said: '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, while preserving uncompromising standards of transparency and stakeholder protection.'
'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 tokenised property, MultiBank becomes the bridge between regulated finance and next-generation investment infrastructure. This is how we make Web3 real.' said Zak Taher, Founder and CEO of MultiBank.io.
Alex Davis, Founder and CEO of Mavryk, said: 'This collaboration represents a paradigm shift in how real-world assets are accessed and traded. By leveraging our advanced tokenisation and DeFi infrastructure, we are transforming landmark developments into borderless, liquid investment opportunities. Together with MAG and MultiBank Group, we are laying the technological foundation for a transparent, scalable future where institutional-grade assets are available at the click of a button.'
With a buyback-and-burn model tied to platform revenues, and staking rewards designed to incentivise long-term engagement, MultiBank Group provides tangible value for both retail and institutional users. From discounted fees and VIP tiers to launchpad access and real-world asset exposure, the $MBG token is engineered to reward participation and drive ecosystem demand.
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