"We can use initially our own financial resources, but then [in the] second phase we can use [a] third party's money," Sajwani said of the planned investment.

P resident-elect Donald Trump announced that Dubai-based real estate firm Damac plans to invest $20 billion into building data centers in the US. The announcement was made at Trum

The deal will allow token-based financing of DAMAC's wide range of portfolio companies that includes real estate development, hospitality and data centers.

Mantra, a blockchain built for tokenized real-world assets (RWAs), signed a $1 billion agreement with Damac Group, an investment conglomerate, to enable token-based finance in the Middle East.

Tokenized real-world assets platform MANTRA has struck a notable $1 billion agreement with DAMAC Group, a top investment conglomerate in the Middle East. On Jan. 9, the L1 blockchain announced that it had sealed the $1 billion deal in a collaboration that will see the partners tokenize assets in the region.