MAG, a United Arab Emirates-based real estate developer, has signed a $3 billion tokenization agreement with MultiBank Group, the world’s largest financial derivatives institution based in Dubai, and Mavryk, a blockchain provider.
According to the companies, the agreement is 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.
In this initiative, MAG will provide its 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. The platform is built to scale up to $10 billion in assets.
The first properties to be tokenized are three of MAG’s Dubai-based real estate developments — The Ritz-Carlton Residences, Dubai; Creekside, part of the Keturah Resort; and Keturah Reserve — which will be 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.
“At MAG, we have always been driven by excellence and a passion for shaping the property landscape of tomorrow,” said Talal Moafaq Al Gaddah, senior executive vice chairman. “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, added, “This isn’t just a real estate deal — it is a flagship use case for the $MBG token. By enabling seamless access to $3 billion in tokenized property, MultiBank becomes the bridge between regulated finance and next-generation investment infrastructure.”
