Multi-billion greenback Dubai-primarily based serious estate developer DAMAC Qualities has began accepting Bitcoin (BTC) and Ether (ETH) payments for its luxurious abodes.

DAMAC Qualities was established by colourful billionaire Hussain Sajwani in 2002, and the company has performed enterprise all over the middle east, Canada and the United Kingdom. It also owns substantial-end fashion and jewelry models Roberto Cavalli and De-Grisgono.

Sajwani is known for extravagant advertising and marketing techniques this kind of as supplying away absolutely free Lamborghinis to home consumers. He also teamed up with Donald Trump in 2013 to start several Trump-branded golf classes in Dubai.

The organization, valued at approximately $2.1 billion, may perhaps be hunting at crypto as a way to catch the attention of some attention after a pair of underwhelming yrs. DAMAC reportedly posted net revenues of $816 million in 2021 but overall observed a net reduction of $144.6 million amid a calendar year plagued by the global pandemic. The year prior, the firm’s losses also tallied $176 million.

In accordance to a Wednesday announcement, together with accepting payments in BTC and ETH, the business will also facilitate the conversion to fiat for the seller if necessary. DAMAC’s general manager of operations Ali Sajwani famous that the company is paying out particular emphasis to evolve technologies these as crypto:

“It is important for international companies like ours to stay at the top of evolution. Presenting nevertheless yet another transactional method is enjoyable, and we are glad to acknowledge the price this engineering provides to our buyers.”

DAMAC also highlighted that Dubai is “becoming a crypto hub” thanks to the government’s crypto-welcoming rules and digital asset licenses, with top rated exchanges these types of as Bybit, Binance and FTX Europe all just lately placing up shop there. Kraken also acquired a license earlier this 7 days.

The agency mentioned that it is keen on “fueling” Dubai’s ambitions by rolling out more crypto initiatives.

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Sajwani also famous in February that the corporation holds ambitious plans to start its personal NFT-backed Metaverse system.

“So, even though most use the expression Metaverse loosely we think it is considerably far more and we have occur up with a solution exactly where we bridge the actual physical and digital belongings to permit for cross-utilization.”

“We have formulated a resolution to integrate the different platforms underneath DAMAC, no matter if real estate, manner, jewellery bringing all onto the metaverse,” he added.