Real estate evolves and updates! DAMAC Properties , a well-known luxury real estate developer in Dubai, announced on April 27 that it would enable Bitcoin (BTC) and Ethereum (ETH) payments . Listed on the stock exchange since 2015, DAMAC Properties is a luxury real estate development company domiciled in the United Arab Emirates.

Under these conditions, the company’s customers will be able to buy real estate with bitcoins or ether. DAMAC Properties also highlighted the fact that crypto to fiat conversions will be made possible. 

This is not a world first: the real estate developer Burj Khalifa , based in the United Arab Emirates, also announced in March that it would now accept Bitcoin (BTC) and Ethereum (ETH) payments. His company, known as Emaar , had indeed sent a circular to real estate agents in his sector to inform them of this development. 

Bitcoin and Ethereum accepted, DAMAC supports the digital economy

bitcoin ethereum crypto

Like many businesses from diverse backgrounds, adopting and using cryptos is a way to drive innovation , which will lead to innovative offerings and solutions for customers. 

At the same time, one can legitimately think that it is a “seduction operation” in order to bring in new customers, potentially seduced by the group’s initiative. This is exactly what is happening with professional football clubs investing and betting on cryptos to “attract new fans” – in their words .

On this subject, DAMAC Properties does not hide its ambitions . Indeed, in a press release, the company explains that the adoption of bitcoin and ether payments is a decision that was made “in accordance with the DAMAC group’s objective to use technology to bring innovative solutions to its customers”. .

Ali Sajwani, Chief Operating Officer , also responsible for digital transformation initiatives at DAMAC Properties, said: 

“DAMAC Properties has always been at the forefront of innovation, from developing luxury homes to creating unique experiences. This shift towards customer-owned cryptocurrencies is one of our initiatives at DAMAC to accelerate the new economy for new generations, and for the future of our industry.”

Ali Sajwani

He adds: 

“It’s crucial for global companies like ours to stay on top of the game. Offering an alternative mode of transaction is exciting and we are happy to recognize the value this technology brings to our customers.”

Ali Sajwani

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