“DAMAC” allows the purchase of real estate in change of payment in cryptocurrency

DAMAC Properties has announced that it will accept Bitcoin and Ethereum in the purchase of real estate, in a move aimed at facilitating the transition to cryptocurrencies.

DAMAC’s director of operations Ali Sajwani said this move towards clients who own cryptocurrencies is one of the company’s initiatives to accelerate the new economy for new generations and support the future of the real estate sector.

One studio global led by Toluna, a specialized company in digital market studies, on global market trends to invest in cryptocurrencies, including the UAE, concluded that the general expectations for investments in cryptocurrencies are much stronger in the UAE than in the world, with 78% net change for investors expecting an increase in the percentage allotted to asset investable in cryptocurrencies compared to 67% globally.

Through this step, DAMAC, which is one of the first real estate developers to agree to accept cryptocurrency, is preparing to contribute through the flexibility and various payment options provided by cryptocurrencies, to enhance the company’s efforts to provide solutions to its own. clients and to attract more real estate investors from around the world.

Sajwani added: “It has become imperative for international companies like Damac to keep up with the development in various aspects of the business. Consequently, providing a new choice of transactions will ensure additional value. Therefore, we are fully aware of the importance of this transformation to provide more benefits and options for our customers.

Interestingly, the UAE is developing laws related to digital currency trading, which has recently helped attract numerous international companies to the country, and major cryptocurrency exchanges are moving their headquarters and business to Dubai, following the government’s decision. to regulate virtual assets and issue legal licenses It is supervised by the Dubai Virtual Asset Regulatory Authority. The emirate is on its way to becoming a center for digital currencies and is also working to promote other virtual assets in presence of legal systems for these currencies. DAMAC Properties wants to support this trend by implementing new technologies and starting to accept payments in Bitcoin and Ethereum.

Read More About: Business News