DMCC and REIT Development Companies plan build a “crypto tower” in Dubai for blockchain companies and fintech startups and thus support the industry.
The building is originally called Crypto Tower and will have a total floor area of 150 square feet, according to DMCC and REIT Development. The building will be divided into several levels, each of which will correspond to a specific Web000 segment.
In particular, nine floors in the crypto tower will be allocated for offices for cryptocurrency startups and crypto companies. Three floors will be allocated for blockchain incubators, venture funds and artificial intelligence firms. According to the project, the building will also have a crypto club and an art gallery NFT and a specialized storage facility for valuables.
Crypto Tower will use blockchain technologies, including on-chain voting and smart contracts, to host tenants and manage operations.
The Crypto Tower will feature venues for digital asset-themed events and luxury retail space, including a gold bullion store and an exotic car showroom.
DMCC Chairman Ahmed Bin Sulayem said the project was a revolutionary step at the intersection of technology and real estate. He believes the facility will fit into the overall style of the city and highlight Dubai's commitment to cutting-edge technology.
The "crypto tower" is expected to begin operating after construction is completed in 2027, attracting both startups and large corporations.
