Dubai, United Arab Emirates, 1 May 2025:
MAG, the leading real estate developer in the UAE has signed a historic $3 billion tokenization agreement with MultiBank Group, the world’s largest financial derivatives institution based in Dubai, and Mavryk, a leading blockchain innovator — marking the largest real-world asset (RWA) tokenization initiative globally to date. The initiative highlights the imminent launch of $MBG, the utility token at the core of MultiBank’s next-generation digital finance ecosystem.
The partnership will bring MAG’s high-value real estate developments — The Ritz-Carlton Residences, Dubai, Creekside, 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.
The $MBG token will power access, staking, fee payments, and platform engagement, positioning it as the infrastructure layer behind institutional-grade digital asset offerings.
As part of the agreement, MAG will provide its premium real estate inventory for tokenization, 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.
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.”
“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.” said Zak Taher, Founder and CEO of MultiBank.io.
The initial tokenization 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.
Legal Disclaimer
The Ritz-Carlton Residences, Dubai, Creekside, are not owned, developed, or sold by The Ritz-Carlton Hotel Company, LLC or its affiliates (“Ritz-Carlton”). MAG of Life FZ-LLC uses The Ritz-Carlton marks under a license from Ritz-Carlton, which has not confirmed the accuracy of any of the statements or representations made herein.
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