The News
DAMAC Group is tokenizing $1 billion worth of assets in partnership with blockchain specialist MANTRA, the latest move from the Dubai developer that plays on trends that resonate with the incoming Donald Trump administration.
Investors will be able to trade digital tokens (equivalent to shares) in DAMAC’s real-world assets from early 2025, although neither side is yet saying what will be available.
DAMAC is best known as a residential real estate developer with a number of Trump-branded properties and other hotels, shopping malls, and data centers.
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The move comes just days after chief executive Hussain Sajwani announced, alongside Trump, plans to invest $20 billion in US data centers.
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