TechFlow reported on January 15 that, according to Emirates247, Dubai Multi Commodities Centre (DMCC) and REIT Development have announced the construction of a 17-story Crypto Tower in Dubai's JLT district. The project will serve as a significant expansion of the DMCC Crypto Centre beyond its headquarters at Uptown Tower, offering a total leasable area of 150,000 square feet, including nine floors of office space, three floors dedicated to blockchain incubators, and areas designated for venture capital firms.
The development will utilize blockchain technology for real estate and tenant management, enabling automated services through on-chain voting mechanisms, shared resources, and smart contracts, with completion expected in the first quarter of 2027.
Ahmed Bin Sulayem, Executive Chairman and CEO of DMCC, stated that the Crypto Tower will be an innovative project at the intersection of blockchain, Web3, and real estate, using blockchain technology to ensure transparency and ownership, further solidifying Dubai's position as a global hub for innovation.
