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

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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.

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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

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Find cheapest groceries in UAE with new price comparison tool

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In a move set to make everyday shopping easier, the UAE Ministry of Economy and Tourism has introduced a new digital tool that lets residents compare prices of essential goods across major retailers.

Called the Essential Goods Prices Platform, the initiative is designed to boost transparency and help shoppers find the best deals on daily essentials.

What you can check

The platform covers more than 30 essential items in its first phase, including:

  • Cooking oils, rice, sugar, and bread
  • Eggs, dairy products, meat, poultry, and fish
  • Fresh fruits and vegetables

It gives users a clear snapshot of price ranges across supermarkets, making it easier to spot where your money goes further.

How it works

  • Prices are updated daily from major retailers
  • Users can compare minimum and maximum prices
  • Track differences between stores and locations
  • Build a custom shopping basket to find the cheapest option

It’s essentially like having a real-time price comparison tool before you even step into a store.

With the cost of living always a concern, this platform puts more control directly in the hands of consumers.

It helps:

  • Save money on weekly groceries
  • Promote fair competition among retailers
  • Prevent unjustified price increases

By making pricing more transparent, the UAE is aiming to protect consumer spending while keeping the retail market balanced.

This launch builds on ongoing efforts by the UAE Ministry of Economy and Tourism to monitor essential goods and ensure price stability.

Now, instead of that data staying behind the scenes, it’s being shared openly, giving residents the power to make smarter, more informed shopping decisions.


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Dubai launches ‘Work from Park’ at Al Barsha, a new way to work in nature

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In a city known for constantly reimagining urban life, Dubai Municipality has introduced a concept that could change how people think about both work and leisure.

Called the ‘Work from Park’ initiative, the idea is simple but powerful: turn public parks into flexible workspaces where productivity meets nature.

The first location is set to open in May 2026 at Al Barsha Pond Park, a popular green escape that will soon double as an open-air office for freelancers, entrepreneurs, and remote workers.

From green spaces to productive places

Instead of traditional office setups, the initiative brings thoughtfully designed modular workspaces into parks. These will include hot desks, meeting areas, and even creative studios, allowing people to work, collaborate, and create while surrounded by greenery.

The project is being developed in partnership with Group AMANA, which will build sustainable, modular units, and Letswork, which will operate and manage bookings through its platform.

Users can expect access to a variety of work environments, including podcast studios and content-creation spaces, making it especially appealing to creators and small businesses.

A vision aligned with Dubai’s future

The Work from Park initiative supports long-term strategies like the Dubai Urban Plan 2040 and the Dubai 2040 Parks and Greenery Strategy, which aim to enhance quality of life by making cities greener, healthier, and more adaptable to modern lifestyles.

Beyond desks and Wi-Fi, the initiative will also host educational sessions, collaborative workshops, and networking events. The goal is to build a vibrant community where ideas grow as naturally as the surrounding greenery.

With more locations planned across Dubai, public parks are set to evolve into multifunctional hubs that blend work, wellness, and social life.

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Dubai’s Burj Al Arab is getting a facelift: Inside the iconic hotel’s first major renovation

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The world’s most famous ‘seven-star’ hotel is officially getting some work done. For the first time since its doors swung open in 1999, the Burj Al Arab is undergoing a massive restoration. Don’t worry, though, the sail-shaped structure isn’t going anywhere. Jumeirah Group is just making sure this Dubai luxury property stays looking fresh for the next generation.

What’s the plan

This isn’t just a quick coat of paint. We’re talking about an 18-month phased restoration led by the renowned designer, Tristan Auer. If the name sounds familiar, it’s because he’s the mastermind behind the stunning Hotel de Crillon in Paris and a protege of the legendary Philippe Starck.

The hotel will, however, be running during the renovation process, which also includes modernising the interiors. 

Why is Burj famous

The Burj Al Arab is more than just a place to sleep, rest and enjoy the luxury comforts, it’s basically the face of Dubai. Here’s a quick refresher on why this building is iconic:

  • The height: It towers at 321 meters on its own private island.
  • The bling: The interiors are packed with marble, gold leaf, and Swarovski crystals.
  • The icon status: From helipad tennis matches with Roger Federer to its massive 450kg crystal chandelier, it put Dubai on the luxury map 27 years ago.

Preserving the icon

As Dubai grows, the city is shifting its focus toward preserving its modern icons. By giving the Burj Al Arab a thoughtful facelift now, they’re ensuring that the ‘Sail of Dubai’ remains the ultimate symbol of global luxury without losing the original character that made it famous in the first place.

According to the Jumeirah Group, the renovation is aimed at preserving one of the emirate’s most famous symbols for future generations.

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