Dubai Real Estate Giant To Accept Bitcoin As Payment
DAMAC will soon begin accepting bitcoin as payment in its property sales as the UAE seeks to become a cryptocurrency hub.Dubai, United Arab Emirates-based luxury real estate developer DAMAC Properties will soon begin accepting Bitcoin payments for the sale of property in the region, the company said in a Wednesday statement.“DAMAC Properties has always been at the forefront of innovations from developing luxury homes to creating unique experiences,” said ALi Sajwani, general manager of operations at the company and lead of its digital transformations initiatives. “This move towards....
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Damac Properties, a prominent real estate developer based in Dubai, United Arab Emirates, announced Wednesday that it would begin taking Bitcoin and Ether payments for its luxury properties. Damac stated that enabling the acquisition of premier real estate via bitcoin and other cryptocurrencies will transform the future of global property development. Damac has also announced […]
James Snodgrass is proud to announce Forsyth Real Estate's decision to accept Bitcoin as a payment method. Sometimes it seems the whole world is trying to bring Bitcoin down. Bad news has caused a downward trend. To change this, the Bitcoin world should start putting focus on positive things. In all the negativity Bitcoin witnessed in the past months, one country stood out with lots of good news coming from it. Today, our friends down under bring us another Bitcoin first for their country. Client's interest above all. Forsyth Real Estate, one of Australia's most successful and respected....
According to an executive with the Dubai-based DAMAC Properties, the real estate development “company has already succeeded in concluding real estate deals worth $50 million via cryptocurrencies since the beginning of this year.” The executive, however, says his company is facing challenges convincing the older generation decision-makers to buy into the metaverse, non-fungible tokens, and cryptocurrencies.
Using a Trusted Intermediary
The Dubai-based real estate developer, DAMAC Properties, has since the beginning of the year completed cryptocurrency deals worth....
The real estate industry is in urgent need of an organized, structured, secure and efficient data management system that would enable investors and brokers worldwide to rely on a comprehensive real-time database. Propy, a California-based Blockchain startup, intends to simplify real estate sales for both brokers and consumers using Blockchain. Propy is currently available in Dubai, New York, San Francisco, Los Angeles, Miami and Moscow. In these cities, consumers can purchase real estate properties by establishing a connection with a real estate broker on a Blockchain-based platform.....
The United Arab Emirates (UAE) has said it now requires real estate agents, brokers, and law firms to report to the Financial Intelligence Unit real estate transactions in which virtual currency is used as payment. Similarly, real estate purchases or sales where “the funds used in the transaction are derived from a virtual asset” must also be reported.
Identification Documents of Parties to the Transaction Must Be Recorded
The United Arab Emirates (UAE) government has said it is introducing new reporting requirements for real estate transactions wherein virtual....