Dubai Property Developer Completes $50M Real Estate Deals in Cryptocurrency

06 Jun 2022

In an interview with Al Roeya newspaper, DAMAC properties COO, Ali Sajwani, revealed that the property giant has completed cryptocurrency deals worth $50 million since the beginning of the year.


Sajwani commented that by accepting either bitcoin or ethereum as payment, DAMAC has shown the extent to which his company will go in order for it to benefit from the most advanced technology solutions.


“The payment process is made through a trusted financial intermediary approved by the Abu Dhabi Global Market, where the customer pays the value of the property in bitcoin or ethereum, as they are among the most traded digital currencies in terms of safety and trust, and then the financial intermediary transfers the amount to our digital wallet in dirhams or dollars.”