Major real estate companies in the UAE accept payments in cryptocurrencies
Real estate development and consulting companies in the UAE have started accepting payments in cryptocurrencies, in line with global companies announcing their acceptance of this form of payment.
According to reports from UAE-based Alroeya, the adoption of cryptocurrencies is gaining momentum in the UAE, coinciding with the growth of the digital economy and the continuous increase in blockchain technologies. The UAE has positioned itself as a global hub for financial technologies.
Nakheel, a real estate development company, announced that its customers can now pay their rents, service fees, and property purchases using cryptocurrencies, following an exclusive partnership with Haven, a digital currency platform.
Haven stated that this is the first time that solutions for purchasing real estate with cryptocurrencies have been activated by a major developer in the UAE. It emphasized, “This is the biggest change in the real estate sector in the UAE since the announcement of the Palm Jumeirah project, and working with Nakheel strengthens our leading position in the market.”
Damac revealed that it would begin accepting Bitcoin and Ethereum as payments for property purchases. Additionally, Samana announced it started accepting Dogecoin as one of the payment options for its project in Jumeira Village, stating that the use of cryptocurrency in real estate transactions contributes to attracting international investors.
