What opportunities does Dubai real estate offer to crypto investors?
Against the backdrop of slowing global economic growth and general political instability, buying real estate in Dubai remains one of the most profitable ways to save and multiply funds. This also applies to investments in cryptocurrency. The growth of its popularity in the emirate is facilitated by the government’s policy, which has made Dubai an attractive destination for crypto investors from all over the world.
Cryptocurrency has been gaining popularity in the Dubai real estate market in recent years. Some major real estate developers have been accepting payments in this format for several years now. For example, Nakheel Properties has been allowing property payments in Bitcoin and Ethereum since 2022 thanks to a partnership with the Hayvn platform. The artificial islands Palm Jebel Ali, Dubai Islands, Palm Jumeirah are among the most famous projects of the developer.
Another major real estate developer, Damac Properties, also accepts payments in Bitcoin and Ethereum. In 2023 alone, the company launched more than 20 new projects. Recent ones include Elo 2 Towers, the Altitude de Grisogono skyscraper, and Utopia, a neighbourhood with expensive villas.
Ellington Properties accepts payments in Bitcoin through the Bitcoin Suisse platform. The developer specialises in luxury properties with unique design and premium amenities. New projects include Art Bay, One River Point, UH, and Mercer House.
The developer MAG entered into an agreement with CoinMENA in late 2022 to accept payments in stablecoins, including USDT and USDC, via the company. The company is building The Ritz-Carlton Residences, an ultra-luxe complex with apartments and villas, Keturah Reserve, a unique eco-friendly community, as well as high-rise and
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