Connect with us

Business

New rules for UAE real estate industry for property bought with cryptocurrency

Published

on

UAE-homes-crypto
Spread the love

The Ministry of Economy (MoE) and the Ministry of Justice (MoJ), in partnership with the UAE Financial Intelligence Unit (FIU), have announced the introduction of new reporting requirements aimed at certain real estate transactions.

The UAE is one of the first countries to implement such a mechanism for real estate transactions involving virtual assets, marking the latest example of the UAE’s global fight against money laundering and terrorist financing.

All real estate agents, brokers, and law firms are obliged to file reports to the FIU for purchase and sale transactions of freehold real estate properties in the UAE that include any of the below three methods of payment, whether for a portion or the entirety of the property value:

  1. Single or multiple cash payment(s) equal to or above AED 55,000
  2. Payments that include the use of a virtual assets
  3. Payments where the fund(s) used in the transaction were derived from a virtual asset.

The reporting mechanism requires real estate agents, brokers, and law firms to obtain and record the identification documents of the parties to the applicable transaction, among other relevant documents related to the transaction.

The rules apply to both individuals and corporate entities that are parties to the above real estate transactions.
The relevant private sector entities have been informed about the specific requirements in regulatory circulators issued by the MoE and MoJ.

Additionally, to ensure preparedness, UAE authorities have collaborated to host three separate workshops with real estate agents and brokers, as well as law firms, helping to guide them through the new reporting requirements and enhance their familiarisation with the FIU’s anti-money laundering system. The MoE and MoJ apply a proactive, risk-based supervisory approach in line with UAE legislation and the international standards set by the Financial Action Task Force (FATF).

Cryptocurrency terms in the UAE

According to real estate agency OPR, though you can buy real estate with cryptocurrency, it is impossible to pay with it directly. According to the requirements of the UAE Central Bank, all transactions outside the territory of the state must be carried out using the national currency – the dirham (AED).

In this case, it is necessary to transfer the digital currency to the account of the trading company and then get a cheque for the agreed amount of money. Only then can you pay for the purchase.

How to buy and from whom to buy with your virtual assets

FAM Properties has tied up with Singapore exchange company Huobi to facilitate such transactions while Binance and other cryptoexchanges have set up bases in the UAE.

The most well-known Dubai developers are ready to offer real estate to cryptocurrency holders. Among them are Emaar Properties, DAMAC Properties, Select Group, Dubai Properties, Meraas, Fam Properties and MAG Lifestyle Development. But an important condition is the co-operation with only licensed real estate agencies, brokers and trading companies with an impeccable reputation.

Dubai-real-estate

Emaar Beachfront is one of the properties you can buy with cryptocurrency.

The following projects have been listed as of December 2021 that can be bought with cryptocurrency, although the list has widened much more since:

  • Emaar Beachfront by Emaar Properties, located between the Palm Jumeirah and Mina Seyahi
  • Bulgari Residencies, located on Jumeirah Bay Island, is a complex by Meraas
  • Port De La Mer, also by Meraas, in Jumeirah 1 area
  • Cavalli Tower, a project by Damac Properties, on Dubai Marina

Announcements

Yas Marina to stage first Abu Dhabi F1 Sprint as 2027 calendar expands

Published

on

Spread the love

The Abu Dhabi Grand Prix will host its first Formula 1 Sprint race in 2027, adding a new competitive element to the season finale at Yas Marina Circuit.

The announcement by organisers Ethara Live follows confirmation of the 2027 FIA Formula One World Championship calendar, which includes 24 Grands Prix across 22 countries and 10 Sprint events.

The Abu Dhabi Grand Prix is scheduled to take place from 9 to 12 December 2027, with Yas Marina Circuit set to host the final round of the season.

The Sprint will be held on Saturday over a distance of 100km. Unlike a traditional Grand Prix, it will not require a mandatory pit stop, and the winner will receive eight championship points.

Abu Dhabi is one of five venues selected to host a Sprint for the first time in 2027, alongside Bahrain, Australia, Japan and Monaco. Sprint events will also return to Montréal, Silverstone, Monza, São Paulo and Lusail.

The expanded Sprint programme will bring the number of Sprint events in the season to 10, up from six. Formula 1 and the FIA said the increase reflects continued demand for the format.

The 2027 season will begin with pre-season testing in Bahrain from 24 to 27 February, followed by the opening race in the country and the Saudi Arabian Grand Prix. The championship will then travel to Australia, Japan, China, Miami and Canada.

Portugal is set to return to the calendar in June, while Türkiye will make its comeback in October, with its race scheduled between Azerbaijan and Singapore. The season will conclude with rounds in Austin, Mexico City, São Paulo, Las Vegas, Qatar and Abu Dhabi.

Mohammed Ben Sulayem, president of the FIA, said the calendar reflected Formula 1’s global appeal and continued growth, while combining established venues with returning destinations and an expanded Sprint programme.

The Abu Dhabi Sprint will give fans at Yas Marina an additional opportunity to see championship points contested before the season concludes on Sunday.

Continue Reading

Announcements

Abu Dhabi T10 teams up with Dot Republic Media to strengthen global digital presence

Published

on

Spread the love

Abu Dhabi T10 has announced a strategic content partnership with DRM (Dot Republic Media), the world’s number one cricket digital network and one of YouTube’s largest multi-channel networks, with more than 600 channels and 190 million combined subscribers.

Across its sports ecosystem built on partnerships with leading cricket federations and broadcasters worldwide, DRM reaches over 20 million subscribers and delivered more than 10 billion impressions and 2 billion views in 2025 alone.

Under this partnership, DRM will deliver year-round content for Abu Dhabi T10 across its YouTube network, keeping the T10 product in front of fans well beyond the tournament window, growing viewership and audiences in key markets, and building deeper engagement with a new generation of cricket fans.

For Abu Dhabi T10 2026, which will run November 7-20 at the UAE capital’s iconic Zayed Cricket Stadium the partnership means ‘Cricket’s Fastest Format’® is now programmed on YouTube 365 days a year, not only across the thirteen days of the tournament. A team of dedicated content experts will deliver player features, on-field highlights and re-lives drawn from archival seasons, distributed simultaneously across the network’s channels, and targeted at cricket’s largest digital markets.

It is a deliberate move from a traditional distribution model to a digital-first one. Rather than reaching supporters only through intermediaries, Abu Dhabi T10 will hold a direct line to its audience, every week of the year, on the platform where cricket’s next generation already watches the game.

Matt Boucher, CEO of the tournament’s owners Abu Dhabi Cricket & Sports Hub (ADCSH) and Abu Dhabi T10, said the expanded distribution strategy was another key piece of the wider platform now being built around the tournament.

“Global reach is fundamental to the ambition we have for Abu Dhabi T10, and our partnership with DRM gives us the digital connectivity needed to engage the next generation of cricket fans,” explained Boucher.

“Piece by piece, we are building a compelling new platform for the tournament – one that creates greater international visibility, stronger commercial opportunities, and a powerful showcase for Abu Dhabi as a global destination for sport, entertainment and investment.”

Muhammad Adnan Butt, CEO, DRM commented: “We are pleased to align with a tournament that understands where content consumption is going. Abu Dhabi T10 is an innovative format, built for the way audiences watch sport today, and that shared view is what makes this partnership work. We look forward to putting the Abu Dhabi T10 in front of our creators and our sports audience every month of the year.”

Imran Khan, CEO, Apex Sports Consulting which co-ordinated the partnership added: “We are thrilled to bring this collaboration with two partners who have done so much for the growth of the game. Digital-first is the future of the sport, and there is no better way to access that than through this platform. Apex is building this distribution model across cricket, and this is what digital-first looks like in practice.”

Continue Reading

Announcements

CBSE to hold exams in 40 subjects for Class 12 students affected by conflict disruption

Published

on

Spread the love

Students in the UAE who received their Class 12 board results under a special assessment scheme will have another opportunity to sit exams in subjects that were cancelled earlier this year.

The Central Board of Secondary Education (CBSE) said examinations would be held in 40 subjects, comprising 20 academic and 20 skill-based subjects.

The exams will cover students in seven West Asian countries: the United Arab Emirates, Bahrain, Iran, Kuwait, Oman, Qatar and Saudi Arabia.

The CBSE had cancelled examinations in these countries because of the prevailing situation. On 27 March, it introduced a special assessment scheme to prepare results for affected students.

Results for regular candidates in the Middle East were announced on 13 May, alongside those for Class 12 students in India and overseas. Results for private candidates from the affected countries were released later under the same scheme.

The latest decision follows a ruling by India’s Supreme Court. Further details, including the examination schedule and registration process, are expected to be announced by the CBSE.

Continue Reading

Popular

© Copyright 2025 HEADLINE. All rights reserved

https://headline.ae/