Trump-affiliated Dubai skyscraper to accept digital currency for apartment purchases, offering a crypto-friendly alternative in real estate market.
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The Trump Organization's upcoming $1 billion Dubai tower is about to shake things up in the world of real estate, as it's set to accept cryptocurrency for property purchases once it's construction is completed, roughly five years down the line.
This game-changing move is the brainchild of Eric Trump, Donald Trump's son, as reported by The National.
Trump's Double Whammy – Properties & Crypto
In an interview with The National, Trump pointed out how Dubai has turned into one of the hottest property markets globally. He further expressed his excitement about the billion-dollar venture as it allows him to blend the property and crypto sectors – a win-win situation, he called it!
Taking to Twitter, @trump announced their partnership with @dar_global for the Trump International Hotel & Tower in Dubai. Rising majestically 80 stories above Sheikh Zayed Road, this masterpiece combines luxury accommodations, elite residences, and an elite members-only club known as The Trump. Needless to say, it's going to be a sight to behold, with a swimming pool that'll be nothing short of airborne!
Redefining Luxury in the UAE Property Market
Comparing the Dubai development to a wealthy oasis, Trump predicted the UAE's property market would continue to flourish. In a bid to claim the throne of luxury real estate, Eric Trump aims to set new standards in value per square foot and the overall elegance of the residences in the UAE market.
The Trump Organization has already staked its claim in the Dubai property market through a collaboration with Damac for two golf developments. It has also teamed up with Dar Global to develop an extravagant resort hosting villas, a hotel, and a golf course. And if that wasn't enough, the organization is also working on a $533 million residential project in Jeddah, unveiled in December.
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- The upcoming $1 billion Dubai tower by The Trump Organization, once completed, will accept cryptocurrency for property purchases, marking a significant milestone in the realm of real-estate and finance.
- In a move to blend the property and crypto sectors, Eric Trump, Donald Trump's son, has proposed a new standard of luxury in the UAE property market, aiming to set new records in value per square foot.
- The Trump Organization has already entered the Dubai property market through collaborations with Damac for two golf developments and Dar Global to develop an extravagant resort.
- The organization's relationships in the UAE don't stop at real-estate, as it's also working on a $533 million residential project in Jeddah and has been linked to the Sony & Yoake 2nd NFT Edition, indicating a broader investment in the digital art market.
