Dubai Multi Commodities Centre (DMCC) and REIT Development have unveiled plans for the 'Crypto Tower,' a 17-storey building in Jumeirah Lakes Towers (JLT), Dubai, aimed at bolstering the city's blockchain, decentralized finance (DeFi), and Web3 sectors.
A conceptual rendering of DMCC's Crypto Tower, set to rise in Dubai's Jumeirah Lakes Towers and anticipated to be completed by early 2027. Image courtesy of DMCC.The tower will offer over 150,000 square feet of leasable space, featuring nine office floors for crypto startups and established firms. Additionally, it will include three floors dedicated to blockchain incubators, venture capital, and investment firms, along with a floor focused on artificial intelligence (AI) innovation, powered by Chatoshi.ai. The infrastructure will incorporate advanced AI solutions to optimize business operations.
Blockchain technology will be integral to the building's operations, facilitating tenant interactions through on-chain voting, smart contracts, and automated services. This approach aims to enhance transparency and streamline administrative processes.
Ahmed Bin Sulayem, executive chairman and CEO of DMCC, stated, "The Crypto Tower is a pioneering development that sits at the interface of blockchain, Web3, and real estate... The launch of Crypto Tower is both a real-world demonstration of the future of Web3, where transparency and ownership are ensured by blockchain technology, as well as a statement of our intent as we continue to consolidate Dubai’s position as the world’s leading innovation hub."
A 17-story landmark at the heart of @JLTbyDMCC , Crypto Tower by DMCC and REIT Development redefines blockchain, AI & Web3 innovation. With 150,000 sq. ft., it's home to blockchain incubators, AI breakthroughs, and a premier crypto club. The future of Web3 is here. https://t.co/EC6kuzJ3br
— DMCC Crypto Centre (@dmcccrypto) January 20, 2025
Additional amenities include a 10,000-square-foot indoor event space, a 3,500-square-foot outdoor area for crypto and blockchain events, and a 30,000-square-foot exclusive crypto club occupying the top three floors. The tower will also feature an NFT art gallery, a gold bullion shop, an exotic car dealership, and a 5,000-square-foot vault for secure storage of valuables such as gold, cash, and cold wallets.
Construction is slated for completion by the first quarter of 2027, with full operations commencing shortly thereafter. Upon completion, the Crypto Tower will complement the existing DMCC Crypto Centre in Uptown Tower, reinforcing Dubai's status as a global leader in blockchain and advanced technologies.
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