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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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Dubai launches new digital platform to simplify SME setup and reduce expenses

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Dubai has unveiled a new one-stop platform aimed at making it faster, simpler and more affordable for entrepreneurs to launch and grow businesses in the emirate.

Launched by the Dubai Department of Economy and Tourism (DET), SME in a Box brings together essential business services on a single platform, allowing founders to access licensing support, banking, digital payments, logistics, telecommunications and other operational tools without dealing with multiple providers separately.

The initiative is designed to remove many of the challenges entrepreneurs face during the business setup process, helping startups and small businesses reduce costs, save time and get operational more quickly.

According to DET, businesses using the platform could unlock more than Dh80,000 in potential value through partner discounts, fee waivers, subsidised onboarding and preferential service packages. Founders may also save up to 200 hours typically spent comparing providers, negotiating contracts and completing onboarding requirements.

The platform launches with 18 private-sector partners, including Emirates NBD, Commercial Bank of Dubai, du, Aramex, DHL and several fintech and business service providers.

Certain digital services, including payments, logistics and telecom solutions, can be activated within as little as 24 hours, while more complex services such as corporate banking and licensing continue to follow standard regulatory procedures with streamlined onboarding support.

Ahmad Al Room Almheiri, CEO of Dubai SME, said the platform was developed in response to entrepreneurs seeking greater clarity, speed and cost efficiency when setting up businesses.

The initiative supports the goals of the Dubai Economic Agenda (D33), which aims to further strengthen Dubai’s position as one of the world’s most attractive destinations for investment, entrepreneurship and business growth.

Future phases will introduce deeper digital integration and eventually connect SME in a Box with Dubai’s broader business ecosystem, creating a seamless journey from company formation to scaling and expansi

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Inside Dubai’s new sports strategy: Dh18.3 billion economic plan revealed

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Dubai is accelerating its ambitions to become one of the world’s top sporting destinations, unveiling a long-term strategy designed to significantly boost economic impact, increase community participation and attract more global sporting events over the next decade.

Under the Dubai Sports Sector Strategic Plan 2033, the emirate aims to grow the sports industry’s contribution to the economy from Dh10.17 billion to Dh18.3 billion by 2033, reinforcing sport as a key pillar of Dubai’s economic and social development agenda.

The strategy also sets ambitious participation targets, with the number of people actively engaged in sports expected to rise from 1.6 million to 2.6 million. Annual attendance at major sporting events is projected to surge from 1.67 million to more than 4.1 million spectators during the same period.

The announcement was made during a strategic industry gathering organised by the Dubai Sports Council, which brought together sports event organisers, facility operators and industry leaders to discuss future opportunities and challenges shaping the emirate’s sporting landscape.

Hosted in collaboration with JA Sports & Shooting Club at JA The Resort, the meeting also included an exclusive preview of the region’s newest integrated multi-sport destination ahead of its public launch.

Dubai already hosts more than 500 sporting events annually, including over 100 international championships, highlighting its growing reputation as a preferred destination for elite competitions and global sporting experiences.

Officials outlined how the Sports Sector Strategic Plan 2033 will build on this momentum through continued investment in world-class infrastructure, stronger partnerships with the private sector and initiatives designed to encourage wider community engagement in sport.

Speaking during the session, Essa Sharif, Director of the Sports Events Department at the Dubai Sports Council, noted that sporting events have evolved beyond competition to become powerful drivers of economic growth, quality of life and international visibility for the emirate.

The strategy also places a strong focus on nurturing future talent across sports such as football, golf, padel and badminton, while creating pathways for young athletes to progress professionally and compete at higher levels.

As Dubai continues to invest in sporting infrastructure and international events, the Sports Sector Strategic Plan 2033 is expected to play a central role in shaping the emirate’s ambition to become the world’s leading sporting city by the end of the decade.

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What Abu Dhabi’s New rent freeze means for tenants and landlords

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Thousands of tenants across Abu Dhabi are set to benefit from a major housing relief measure after the emirate announced a temporary freeze on rental increases for residential, commercial and industrial properties.

The decision, which takes immediate effect, means landlords will no longer be able to increase rents when renewing existing tenancy contracts. The measure will remain in place until further notice, according to the Abu Dhabi Real Estate Centre (ADREC).

Under the new directive, all tenancy contract renewals will be processed with a zero per cent rent increase. In addition, any new lease signed for a previously rented property must be offered at the same rental value as the most recent tenancy contract, preventing landlords from raising prices between tenants.

The move marks a significant shift from existing regulations, which previously allowed annual rent increases of up to five per cent under specific conditions. The temporary freeze is expected to provide immediate relief for residents and businesses facing rising living and operating costs.

What it means for tenants

For tenants approaching lease renewal, the change offers greater financial certainty. Regardless of whether the property is residential, commercial or industrial, the rental value recorded in the previous contract will serve as the reference rate during the freeze period.

The decision is particularly notable given the strong growth seen in Abu Dhabi’s property market over recent years. Rental prices in several areas have recorded significant increases as demand for housing continued to rise alongside population growth and economic expansion.

Focus on market stability

The rent freeze comes as Abu Dhabi continues to strengthen transparency and regulation within its real estate sector. In recent years, the emirate introduced its official rental index and expanded digital property services through platforms such as Tawtheeq, helping both landlords and tenants access clearer market information.

Industry observers view the latest measure as part of broader efforts to support market stability while protecting residents during a period of regional uncertainty.

While authorities have not specified an end date for the temporary measure, ADREC confirmed that the freeze will remain in effect until further notice.

For many tenants across the capital, the announcement delivers a welcome pause in rental costs and greater predictability when planning household and business budgets in the months ahead.

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