Tax-free crypto transactions coming to UAE in November to push digital ambition (Oct. 26· 2min read)
The United Arab Emirates (UAE) has exempted crypto transactions from the country’s 5% value-added tax (VAT).

This exemption is part of an amendment to the Executive Regulation of the Federal Decree Law on VAT. Read More

Earn 10% ROI Through Passive Property Investment With 971Properties (Oct. 09· 2min read)
971Properties is an Emirati administrative real estate broker that offers up to 10% ROI on Dubai Binghatti properties by providing a secure and reliable avenue for individuals globally to generate passive income by renting our available properties from anywhere, eliminating the hassle of paperwork and hefty down payments.

These returns stem from real live rental income on Binghatti Amber, Binghatti Orchid, and Binghatti Onyx properties which is seamlessly distributed to your rental wallet. Read More

Dubai’s office rents climb 22.4% in H1 (Oct. 02· 3min read)
Rising demand and limited supply had propelled average office lease rates in Dubai’s key submarkets by 22.4 per cent in the first half of 2024.

With Dubai Grade A office occupancy levels currently exceeding 90 per cent, there has been a demand surge and limited supply across the city’s top office submarkets, according to global property consultant Knight Frank. Read More

UAE Real Estate Boom Spreading Beyond Property (Sep. 23· 2min read)
The real estate boom in Dubai is spreading rapidly to other sectors as well, as a number of industries gain with rising demand.

In this regard, Mystic Advertising, a major player in the UAE’s marketing and advertising sector, is experiencing strong growth and success in real estate marketing. Read More

Tether expands fiat portfolio with new UAE Dirham stablecoin (Sep. 02· 2min read)
USDT issuer Tether plans to launch a new stablecoin pegged to the United Arab Emirates Dirham (AED) in collaboration with the Phoenix Group and Green Acorn, according to an Aug. 21 statement shared with CryptoSlate.

This new asset will be a digital representation of the UAE Dirham... Read More

UAE’s Zand Bank to Offer Crypto Services (Jul. 30· 1min read)
Zand Bank, the UAE’s first digital bank, has entered into a strategic partnership with Taurus SA, a global leader in digital asset technology for banks.
This partnership will cover all aspects of Zand’s digital asset infrastructure, including custody, tokenization, and blockchain connectivity. Read More

Dubai: Top areas with highest and lowest rent increases since Covid-19 (Jun. 24· 4min read)
Palm Jumeirah, Dubai Marina, and Downtown have seen the highest rental growth in the apartment category in Dubai following the outbreak of the pandemic.

According to data shared by real estate consultancy Asteco, these areas were Read More

Why more tenants will move out from rented properties in the coming months (Jun. 06· 5min read)
Dubai's real estate market is expected to see a rise in tenants moving out of their rented properties in the coming months. This trend is driven by several factors, including Read More

Reasons to Invest in Dubai Real Estate 2024 (May. 14· 2min read)
Renowned for its iconic skyline, world-class amenities, and breathtaking landmarks, 971Properties Dubai has also built its reputation as a top real estate hub, which is certainly no surprise at all considering it ranked in the top 10 Global Passive Property Investing worldwide (GPPI) in 2024.

As we consistently break records, cementing our position as one of the most appealing passive opportunities and Read More

Video: Uniswap Receives Wells Notice From the SEC; State of Crypto Regulation in Dubai (May. 06· 2min read)
“CoinDesk Daily” host Jennifer Sanasie breaks down the biggest headlines impacting the crypto industry today, as decentralized crypto exchange Uniswap received an enforcement notice from the U.S. Securities and Exchange Commission (SEC). Plus, Grayscale’s bitcoin ETF saw a record-low daily outflow of $18 million ... Read More

Passive Property Investment Dubai: How Cryptocurrency is Changing the Real Estate Game (Mar. 22· 4min read)
The use of cryptocurrency in the real estate market has increased significantly in recent years, with many investors and buyers... Read More

Crypto Lender Nexo Secures First Regulatory Victory in Dubai (Mar. 09· 2min read)
Nexo, a company offering digital asset services, has won initial approval as a licensed entity in Dubai from the region’s Virtual Assets Regulatory Authority (VARA), it announced Tuesday. Read More

UAE Central Bank Completes First Cross-Border Digital Dirham Transfer Using mBridge CBDC Platform (Feb. 02· 2min read)
The first cross-border digital dirham payment was completed by Sheikh Mansour Bin Zayed Al Nahyan, Chairman of the Board of the Central Bank of the UAE, using the Mbridge platform, a central bank digital currency (CBDC) liquidity and interconnection tool. The settlement involved sending 50 million dirhams ($13.6 million) directly to China. Read More

Abu Dhabi Global Market partners with Solana Foundation to drive web3 adoption in UAE (Jan. 26· 2min read)
The partnership aims broaden ADGM's blockchain and Web3 ecosystem in Abu Dhabi by exploring joint initiatives and projects.

The Abu Dhabi Global Market (ADGM) has signed a Memorandum of Understanding (MOU) with the Solana Foundation to drive the adoption of Distributed Ledger Technology (DLT) solutions and propel blockchain innovation. Read More

Real Estate Dubai: Cybersecurity council warns of fraud in cryptocurrencies (Jan. 26· 2min read)
The Cyber Security Council of the UAE government warned the residents of the dangers of fraud in cryptocurrencies, as they constitute a cross-border threat that requires vigilance from dealers. Read More

Binghatti expands its land bank in Business Bay (Jan. 12· 2min read)
Leading UAE property development brand Binghatti Properties has grown its land bank in Business Bay with the purchase of a new plot exceeding a transaction value of Dh365 million.

Strategically located in the heart of Dubai’s bustling metropolis, Business Bay is regarded as one of the most prestigious destinations in Dubai. Read More

UAE’s new anti-money laundering regulations incorporate the FATF travel rule (Jan. 03· 2min read)
The United Arab Emirates’ Financial Services Regulatory Authority (FSRA) has updated its Anti-Money Laundering (AML) and sanctions rules by adding new provisions concerning digital assets, according to a press release.

The revisions — effective immediately — are set to enforce the Financial Action Task Force’s (FATF) Travel Rule on digital assets, Read More

Binance reevaluates MENA strategy, retracts Dubai fund management bid (Dec. 14· 2min read)
The major cryptocurrency exchange Binance withdrew an application for certain operations in Abu Dhabi, according to a recently updated filing.

The Abu Dhabi Global Market (ADGM) is the regulator responsible for the request, which took effect on Nov. 15, 2022, and was withdrawn on Nov. 7, 2023. Read More

Here's why Dubai property prices will continue to rise in 2024 (Dec. 04· 4min read)
Property prices rally in Dubai will continue next year, but the pace will slow down compared to 2023, with a growth rate of up to 10 percent projected on the back of strong demand from residents, investors, and high-net-worth individuals. Read More

Paxos Secures Approvals for Stablecoin Issuance in Dubai (Dec. 01· 2min read)
According to the latest report, Paxos gained pivotal pre-approval this week to offer USD-pegged stablecoins and associated crypto services in Abu Dhabi. This follows its parallel progress in Singapore.

The company announced its in-principle authorizations from the Financial Services Regulatory Authority (FSRA) located in the Abu Dhabi Global Market (ADGM). Read More

Dubai Regulator Grants Preliminary VASP License To Crypto.com (Nov. 19· 2min read)
Crypto.com has secured a Virtual Assets Service Provider (VASP) license from the Dubai Virtual Assets Regulatory Authority (VARA).

The exchange, through its entity CRO DAX Middle East FZE, announced the partial VASP license granting permission for specific virtual asset services. Read More

Over 11% of UAE residents have invested in cryptocurrencies (Oct 31· 2min read)
Around 11.4 per cent of UAE residents have invested in cryptocurrencies, according to the Telecommunications and Digital Government Regulatory Authority (TDRA). This means one out of 10 people in the UAE have exposure to cryptocurrencies, ranking the country 10th globally in terms of investments in cryptocurrencies, according to TDRA’s “Digital Lifestyle” 2022 report. Read More

Fluent Finance Partners With UAE to Develop Deposit Token Tech (Oct 19· 2min read)
Fluent Finance, a US-based startup that aims to bridge banking and Web3, has announced that it will partner with the Ministry of Economy of the United Arab Emirates (UAE) to develop deposit token-based tech. The company, which takes advantage of the Nextgen FDI growth program, will open operations in Abu Dhabi, planning to grow its headcount to over 100 jobs. Read More

Why Dubai Passive Real Estate Investing is the Ultimate Path to Financial Freedom and Independence (Oct 08· 3min read)
In today’s fast-paced world, it’s no surprise that many people are searching for investment strategies that require minimal effort yet offer substantial returns. We advise you today to enter into Dubai’s passive real estate investing, a powerful approach that allows you to generate income and build long-term wealth without the headaches of actively managing properties. Read More

Saudi Arabia looks to blockchain gaming and Web3 to diversify economy (Oct 02· 4min read)
Saudi Arabia has ramped up its economic diversification efforts driven by its ambitious Vision 2030.

In a bid to diversify its economy away from a dependence on oil, the kingdom has embraced emerging technologies, such as blockchain and artificial intelligence (AI), and tapped into booming markets like gaming. Read More

Dubai property market booms: New projects gain momentum as new buyers flock in (Sep 21· 2min read)
New project launches in Dubai are going strong as developers are increasingly looking to tap new buyers — both residents and foreigners. These new launches are coming up not just from the local property developers but also international developers foraying into the local market as Dubai strengthens its position as a mature and stable market with steady and high returns. Read More

Defying global trends Dubai Properties market thrives in Q2 (Sep 4· 2min read)
Dubai’s properties market continued to defy global down trends caused by economic uncertainty by recording an increase in demand for top-quality office space in the second quarter of 2023. The demand growth was driven by banking, fintech, media, and telecommunications sectors along with new international firms setting up operations in the emirate, according to market analysts.

971Properties, a global real estate services provider, noted in its report that Dubai attracted new companies, particularly from the US, Europe, and Asia, particularly India and China. Read More

Cryptos Are Back In Business — 971Properties News (Aug 30· 4min read)
Once again, cryptocurrencies or digital currencies have become a hot topic in the world of finance and technology as some of the leading units staged a strong recovery this year.

Bitcoin, which dominates the global crypto market with almost 50 percent of the total capital, led the chart with a significant price appreciation due to rising demand from investors. It remained resilient despite adversities and recorded an over 75 percent price increase to over $29,000 this year so far. Read More

Dubai to Subsidize Commercial Licenses for Web3 and AI Companies (Aug 21· 2min read)
Dubai will offer subsidized licenses for Web3 and artificial intelligence (AI) companies that want to enter the country. The Dubai International Financial Centre (DIFC) and its campus will subsidize 90% of the costs of these licenses to attract companies in this sector as part of its push to become a worldwide tech hub.

The Dubai International Financial Centre (DIFC) announced the issuance of special commercial licenses for Web3 and artificial intelligence (AI) companies wanting to set up operations in the emirate. 90% of the cost of each license will be subsidized to help companies in their initial stages. Read More

3 Main Benefits of going into Passive Property Investment in Dubai with 971Properties (Aug 14· 2min read)
Dubai has established itself as a global real estate hotspot. Moreover, the city’s strategic location at the crossroads of East and West, along with its reputation as a vibrant cosmopolitan hub, makes it an ideal destination for both investors and residents seeking to go into real estate property investment.

As Dubai continues to evolve and flourish in the real estate business, 971Properties has fully unlocked the entry barrier for investors by creating a borderless Read More

Dubai luxury property market to maintain the fastest growth rate in H2 (Aug 07· 4min read)
Demand for Dubai’s luxury properties will remain strong in the second half of 2023 and will be the fastest growing market among all the major cities around the world on the back of the continued inflow of millionaires, with the market facing a supply shortage of high-end units.

Following an 11.2 percent increase in capital value during the January-June period, industry analysts project another up to 10 percent Read More

Dubai expands crypto licenses, granting approval to Nomura (Aug 03· 1min read)
Dubai has granted a coveted full crypto license to a subsidiary of Japanese financial giant Nomura Holdings Inc., according to BNN Bloomberg.

This license represents further progress in Dubai’s ongoing pledge to position itself as a dominant hub within the crypto landscape, coming days after Binance received an MVP Operational permit from Dubai. Read More

Binance secures first operational license in Dubai amid regulatory hurdles in Europe. (Aug 03· 2min read)
Following multiple setbacks with European regulators, Binance has become the first digital asset exchange to receive an Operational Minimum Viable Product (MVP) license from Dubai’s Virtual Assets Regulatory Authority (VARA).

The news comes as the exchange faces regulatory challenges in several European territories, including Germany, the Netherlands, and the U.K. Read More

Crypto Exchanger “Bitget” Opens Dubai Office (Jul 22· 1min read)
Crypto exchanger/trading platform Bitget plans to expand into the Middle East and hire up to 60 new members of staff, the company said on Thursday. Read More

Dubai’s virtual assets regulator suspends critical license for crypto exchange BitOasis citing regulatory non-compliance (Jul 11· 2min read)
Dubai’s Virtual Assets Regulatory Authority (VARA) issued a market alert on July 10 concerning the local crypto exchange BitOasis.

The notice indicates that BitOasis’ conditional MVP Licence has been suspended as it has failed to meet the related requirements. Read More

Julius Baer Eyes Expansion to Dubai for Crypto Services: Bloomberg (Jul 05· 1min read)
Swiss private bank Julius Baer (BAER) is expanding its crypto services to Dubai, Bloomberg reported.

The Zurich-based bank will apply for a “digital assets license variation” to supplement its existing regulatory permissions in the emirate. Read More

Floating villas: Another game changer in Dubai real estate (Jun 22· 2min read)
The first of the floating villas is expected to be open by the end of this year. What could these types of properties mean for the market here in Dubai?

The introduction of floating villas in Dubai’s real estate market could have several implications which will change the impression of Dubai real estate entirely. Read More

Qatar slammed for not taking enough action against crypto companies (Jun 22· 2min read)
A financial watchdog has raised concerns that Qatar is not doing enough to address loopholes in cryptocurrency that can be exploited by terrorist groups for financing.

The Paris-based Financial Action Task Force (FATF) urged the Qatar Central Bank (QCB) to ramp up efforts to identify and sanction virtual asset service providers (VASPs) that violate the Gulf state's 2019 crypto prohibition.

“Qatar has not demonstrated that the competent authorities proactively identify and take enforcement Read More

Emaar announces Dh73 billion project; (Jun 19· 3min read)
Spread over a total land area of more than 100 million square feet or 9.4 million square meters, it will be one of the largest developments in Dubai, providing 7,000 residential units focusing on large mansions and villas with spacious plots, providing residents with views of water canals, lakes, and parks.

The project was launched in the presence of Bollywood superstar Shah Rukh Khan. Read More

UAE leads in crypto ownership as Over 33% of UAE residents have invested in cryptocurrencies. (Jun 13· 2min read)
One month, after Dubai adopted new laws governing virtual assets, 33+ per cent of UAE residents say they have invested in cryptocurrencies, a survey, has shown.

According to a Gemini survey, the UAE is the Read More

India, UAE Collaborate to Boost CBDCs Transactions. (Jun 13· 2min read)
India’s central bank, the Reserve Bank of India (RBI), and the Central Bank of the United Arab Emirates (UAE) have agreed to collaborate on cross-border central bank digital currency (CBDC) transactions of remittances and trade. The initiative is “expected to reduce costs, increase the efficiency of cross border transactions and further the economic ties between India and UAE,” India’s central bank explained. Read More

AML rules for Digital Assets to come into effect in UAE (Jun 09· 2min read)
Under new rules from the Central Bank of the United Arab Emirates (CBUAE), licensed financial institutions (LFIs) would be required to verify the identities of all customers. The update will come into effect “within a month” by the end of June.

On May 31, the CBUAE published guidance for LFIs on risks “related to virtual assets and virtual assets service providers.” A 44-page document specifies Read More

Dubai jobs: Crypto exchangers to recruit over 100+ people, opens global headquarters in UAE. (Jun 06· 2min read)
As Crypto plays a major role in UAE trade going forward, top crypto exchanges like Binance, ByBite, CoinBase, etc open global headquarters in UAE and plans to recruit 100+ people.

“We’re going to start hiring massively here in the UAE and the region. We’ve already talked to universities to host hackathons and provide internships for the local kids, said Read More

First look at the Bitcoin Tower in Dubai: Dev shares initial design (May 30· 3min read)
Real estate developer Salvatore Leggiero said the tower would have a virtual version in the metaverse.

The developer of the forthcoming Bitcoin Tower officially launched the project at an exclusive architecture-focused event by designer Simone Micheli. The private event was held at the Bella Restaurant Lounge in Dubai, United Arab Emirates. Read More

UAE (Real Estate) Property Rentals Now Accepts Crypto (May 30· 2min read)
Property Investment companies in the United Arab Emirates (BinGhatti), have announced that their clients can now pay for services with cryptocurrencies. Clients can pay with Bitcoin, Ethereum, Tether, and other digital assets.

UAE-based property investment brand 971properties now accept cryptocurrencies via its e-commerce platform, a report has said. According to the report, Read More

Binghatti launches the world’s first Bugatti Residences in Dubai (May 23. 2min read)
Global luxury automotive brand Bugatti has tied up with leading UAE real estate developer Binghatti to launch its first Bugatti Residences in Dubai.

Mate Rimac, Bugatti Rimac CEO, said: "We share a vision of what a Bugatti branded residence should be. Muhammad Binghatti has a profound appreciation for the world of automotive design and luxury as well as a talent for creating iconic architecture... Read More

Coinbase is considering UAE for its international hub (May 18. 2min read)
US-based crypto exchange Coinbase is considering using the United Arab Emirates as the hub for its international service in the Middle East and other nearby regions.

In a May 8 tweet, Coinbase’s VP of International & Business Development, Nana Murugesan, said the country has the potential to be a strategic hub for the exchange. Read More

Why invest in UAE real estate properties in 2023? (May 8· 2min read)
The Dubai Real Estate sector saw 3,050 real estate transactions worth AED10.4bn ($2.8bn) last week, according to the city Land Department.

Due to the absence of taxes, Dubai is an attractive location for investment, particularly in the real estate sector, where investors can benefit from high rental yields of 2–10% and an average return of 7.5%. Coastal areas are desirable, leading to high demand and liquidity in Dubai’s real estate market. Read More

Damac awards contract for its Lagoons project (Mar 9. 2min read)
Damac Properties has awarded a contract valued at more than Dh137 million contract to Proscape LLC for roads and infrastructure works for three clusters at the Damac Lagoons master community development in Dubailand.

The scope of work comprises construction, completion, testing, commissioning, and maintenance of the roads and infrastructure services of the Nice, Costa Brava, and Portofino clusters. Read More

Crypto to Play a Major Role in the UAE (Feb 20. 2min read)
The United Arab Emirates (UAE) minister of state for foreign trade says that cryptocurrency “will play a major role for UAE trade going forward.” He stressed: “The most important thing is that we ensure global governance when it comes to cryptocurrencies and crypto companies.”

"Crypto will play a major role for UAE trade going forward. The most important thing is that we ensure global governance when it comes to cryptocurrencies and crypto companies,” Al Zeyoudi described. Read More

The state of crypto adoption in Dubai — Groceries to luxury properties (Feb 17· 1min read)
The city of Dubai has been very welcoming to the crypto space, providing much-needed regulatory clarity to help the industry thrive. While this attracts native Web3 and crypto businesses to the emirate, even non-crypto businesses started integrating technologies into their operations, like cryptocurrencies, nonfungible tokens (NFTs), and even the metaverse. Read More

Dubai Set New Regulatory Rules, Instruct Crypto Companies To Get License (Feb 8· 2min read)
A new set of rulebooks from the Virtual Assets Regulatory Authority lays out requirements for crypto firms covering everything from issuance and exchange services to advertising.

Crypto firms must obtain authorization and relevant licenses to operate in Dubai, the jurisdiction’s new virtual asset rulebooks say.
The extensive rules published Tuesday detail requirements for companies from cybersecurity norms to compliance and risk-management standards. Read More

Dubai homes built on cryptos might be a legal trap (Jan 31· 1min read)
One of the top developers in Dubai confirmed that cryptos can be transferred to buy properties in Dubai and that many Indians have paid in cryptos to buy homes there.

Many wealthy Indians are paying in cryptocurrencies to buy properties in Dubai, with leading realtors in the emirate accepting digital coins to cut deals. Read More

CoinMENA Now Accepts Crypto Purchases For Real Estate Dubai (Jan 13· 2min read)
United Arab Emirates (UAE) real estate developer MAG is set to facilitate real estate purchases using cryptocurrencies. The news comes as part of a partnership with a crypto asset service provider in the Middle East and North Africa, CoinMENA.
Under the agreement with CoinMENA, the developer MAG will begin accepting stablecoins, including USDT and USDC. The partnership also aims to accelerate the growth of Dubai’s new economy. Read More

Dubai Urges Crypto Companies to Set Up Shop (Dec 24· 2min read)
Dubai is actively seeking out cryptocurrency companies to set up shop, though the existing infrastructure in the Middle Eastern country doesn’t make things look feasible as yet. Uncertain regulations make it difficult to open even the most basic of bank accounts at the moment. Read More

Top Dubai Real Estate Developer Now Accepts XPR (Dec 24· 2min read)
XRP users can now use their assets to purchase Keturah Reserve homes. Last month, MAG, a top real estate developer in the UAE, announced the launch of Keturah Reserve, a United Arab Emirates Dirham (AED) 3 billion exclusive, a new luxury residential complex in Meydan, one of Dubai’s most sought-after residential areas. Read More

Dubai on becoming the world cryptocurrency capital (Dec 8· 12min read)
Dubai wants to become a cryptocurrency capital, but several challenges could keep the United Arab Emirates (UAE) city from achieving that goal. Detractors have warned that the Middle Eastern metropolis’ business-friendly approach could leave investors at risk of falling victim to scammers, adding to the millions already lost to laptop-wielding larcenists. Read More

Dubai Oil Producers Move Into Bitcoin Mining With Crusoe Energy Stakes (Nov 27· 3min read)
Crusoe Energy, the privately held U.S. company that pioneered bitcoin (BTC) mining by using wasted natural gas as a power source, is expanding in the Middle Eastern region with investments from Mubadala — the sovereign wealth fund (SWF) of Abu Dhabi — and the Oman Investment Authority (OIA). Read More

UAE to Clamp Down on Crypto Real Estate Money Laundering (Nov 15· 2min read)
The authorities want to trace payments made in bitcoin and ethereum as the country develops as a crypto hub.

Real estate agents will have to alert money laundering authorities of any illegal property sales paid for in crypto, the government of the United Arab Emirates (UAE) said in a statement on Monday.Read More

Is Cryptocurrency (Bitcoin) Legal In Dubai — UAE? (Nov 4· 2min read)
Financial regulators in the United Arab Emirates have reached an arrangement to officially allow and support cryptocurrency trading in an economicfree zone in Dubai.

The Dubai World Trade Centre Authority (DWTCA) announced Wednesday that it had signed an agreement with the UAE’s Securities and Commodities Authority (SCA) to support the regulation and trading of crypto assets within the DWTCA free zone. Read More

Dubai Real Estate Developer to Accept Crypto Payments (Nov 4· 2min read)
Damac will accept payments in bitcoin (BTC) and ethereum (ETH), the firm said in a Wednesday press release. The move aims to “accelerate the new economy for newer generations, and for the future of our industry,” said Ali Sajwani, who leads Damac’s digital transformation initiatives as the general manager of operations. Read More

Finance watchdog approves Bitcoin listing in Dubai (Nov 4· 2min read)
The Bitcoin Fund (QBTCu.TO), a closed-end investment vehicle based in Canada, has received regulatory approval from the Dubai Financial Services Authority (DFSA). The fund debuted on Nasdaq on June 23, 2021, and became the first listed digital asset fund in the Middle East. Read More

How To Buy Bitcoin in Dubai (Oct 31· 3min read)
Bitcoin (BTC) is the leading cryptocurrency on the market, with a market cap of $1.1 trillion. It has been available in the UAE since 2014, and its popularity increases daily. The Securities and Commodities Authority (SCA) monitors Bitcoin’s activity and regulation in the UAE. Buying, selling and holding Bitcoin in the UAE is legal. Read More