Dubai Property Developer to Accept Bitcoin and Ethereum Payments

Damac Properties, a major Dubai-based real estate developer, has announced that it will accept cryptocurrencies as payment for a property. Buy Property With Bitcoin and Ether According to the Khaleej Times, Damac announced it would accept Bitcoin and Ether as payment for any of its properties. Bitcoin and Ether are the two most valuable crypto assets by market capitalization. The company claims that allowing such payments will provide real estate investors with more options and will be more convenient. In addition, the Dubai-based property developer believes that allowing cryptocurrencies to be used to facilitate property acquisitions will transform the real estate sector. Damac was founded in 2002 and specializes in residential and commercial real estate in the United Arab Emirates (UAE), as well as Qatar, Lebanon, Jordan, Oman, Saudi Arabia, Iran, and the United Kingdom. Commenting on the company’s latest decision to adopt crypto, Damac’s general manager of operations, Ali Sajwani, said: “This move towards customers holding cryptocurrency is one of our initiatives to accelerate the new economy for newer generations, and for the future of 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 recognize the value this technology brings to our customers.” Damac Properties’ parent business, Damac Group, recently revealed...