• Damac Properties accepts cryptocurrency.
• With and, you can start selling crypto properties.
• Commentary from Damac’s general manager for operations

Damac Properties, a leading Dubai real estate developer, has made it clear that it accepts cryptocurrency as payment for properties. The announcement came in a tweet on Damac’s official Twitter (NYSE:) page.

Real estate’s future is changing! #DAMACProperties has become one of the few developers that accepts #Bitcoin as a payment medium to purchase property. This is great news for the digital economy.

To read more:https://t.co/j0AVJMPYMV pic.twitter.com/rVQe10Xhux

— DAMAC Properties (@DAMACOfficial) April 27, 2022

The company claims that it wants to change the way real estate is managed by accepting Bitcoin and Ethereum payments. The decision comes from the company’s vision of “leveraging technology to provide innovative solutions to evolved customers.”

Damac was one of the pioneers in the field of real estate development, opening the way to new investment levels in crypto- and real-estate. Ali Sajwani, General Manager of Operations at Damac and lead of the organization’s digital transformation initiatives, commented

Damac Properties is always at the forefront in innovation, from creating luxury homes to unique experiences. Damac is aiming to encourage customers who hold cryptocurrency as a way of accelerating our new economy, both for future generations and our industry.

“It is crucial for global businesses like ours to stay at the top of evolution. Offering yet another transactional mode is exciting and we are glad to recognise the value this technology brings to our customers.” Sajwani added.

As this big news happened on the real estate front, major crypto exchanges are now shifting their base to Dubai following the government’s decision of issuing virtual asset licenses under the Dubai Virtual Assets Regulatory Authority (VARA).

It is clear that the UAE wants to be a key player in developing crypto industries. The UAE also sets an example for other countries on how to create a hub. With that being said, Damac Properties are clearly determined on fuelling the nation’s ambition by implementing new technology, starting with Bitcoin and Ethereum payments.

Disclaimer: The views and opinions expressed in this article are solely the author’s and do not necessarily reflect the views of CoinQuora. The information contained in this article shouldn’t be taken as advice. CoinQuora urges users to conduct their own research prior to investing in cryptocurrency.

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