DMCC, REIT Development to build Crypto Tower in Dubai’s JLT

DMCC, Dubai’s leading international business district, and REIT Development have announced the launch of the highly anticipated ‘Crypto Tower’ in Jumeirah Lakes Towers (JLT), a new 17-storey project designed to support the rapidly growing community of blockchain, decentralised finance (DeFi), and Web3 companies in Dubai. The development aims to strengthen DMCC’s position as a global hub for innovation and advanced technologies.

Crypto Tower will feature over 150,000 square feet of leasable space, including nine floors dedicated to advanced office spaces for crypto startups and established firms.

Additionally, three floors will house blockchain incubators, venture capital firms, and investment companies, while another floor will be devoted to artificial intelligence (AI) innovation, powered by Chatoshi.ai.

The building’s infrastructure will integrate cutting-edge AI solutions and state-of-the-art facilities to enhance business operations.

Blockchain tech at the foundation

Blockchain technology will play a key role in streamlining tenant interactions and transactions through on-chain voting, smart contracts, and other automated services. This integration aims to reduce administrative burdens, increase transparency, and set a new standard in community decision-making and management.

Ahmed Bin Sulayem, executive chairman and CEO of DMCC, commented: “The Crypto Tower is a pioneering development that sits at the interface of blockchain, Web3, and real estate. With over 150,000 square feet of leasable space, including nine office floors, three dedicated floors for blockchain incubators, an AI innovation floor, a crypto club, gold bullion shop, and vault storage area, the tower will provide a range of cutting-edge facilities and services for the benefit of our members.

“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.”

Key offerings of the Crypto Tower

The Crypto Tower will also feature a 10,000-square-foot indoor event space, complemented by a 3,500-square-foot outdoor area for crypto and blockchain-related events. On the top three floors, the tower will house a 30,000-square-foot exclusive crypto club, designed to provide premium networking and leisure amenities for high-level collaboration within the blockchain community.

In addition to its core offerings, the tower will integrate high-end features such as an NFT art gallery, a gold bullion shop, an exotic car dealership, and a 5,000-square-foot vault storage area designed to securely store valuables including gold, cash, and cold wallets.

This multifunctional development aims to redefine the integration of technology, finance, and lifestyle in a single space, creating a secure and seamless environment for the world’s leading crypto players.

Brenda Stratton, communications director at REIT Development, added: “By combining blockchain technology with real-world construction in Dubai’s DMCC, we’re creating a physical tower that serves as a central hub for the crypto community. Every expense is on-chain, setting a new standard for transparency in the industry.”

The project, led by REIT Development, is known for its emphasis on incorporating advanced technology and sustainability into real estate developments.

Construction to be complete in 2027

Construction of the Crypto Tower is expected to be completed by Q1 2027, with full operations commencing shortly after.

Once finished, the Crypto Tower will serve as a key component of DMCC’s growing ecosystem, complementing the existing DMCC Crypto Centre headquarters in Uptown Tower and further solidifying Dubai’s status as a global leader in blockchain and advanced technologies.

Read: Dubai’s JLT to get its first service station