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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 issues new law to regulate the construction and contracting sector 

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In a major move to enhance governance and transparency in the construction and contracting sector, His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, has issued Law No. (7) of 2025 regulating contracting activities across the emirate.

The new legislation introduces a unified regulatory framework aimed at standardising contractor classification, improving oversight, and reinforcing accountability across the sector. It is designed to align with Dubai’s strategic vision for sustainable development and global best practices in urban planning and infrastructure.

Oversight Committee to Lead Sector Reform

A central provision of the law is the establishment of a new Contracting Activities Regulation and Development Committee, which a representative from Dubai Municipality will chair. The committee will include members from various government entities involved in the sector.

The committee will be tasked with:

  • Approving and supervising contracting activities
  • Defining regulatory responsibilities across entities
  • Proposing new policies and legislative updates
  • Resolving jurisdictional conflicts
  • Establishing a sector-wide code of ethics
  • Coordinating with public and private stakeholders

Digital Transformation of Contractor Registry

Dubai Municipality has been appointed as the lead authority to manage the sector’s transformation. It will establish and operate a fully integrated electronic platform for all contracting activities in the emirate. The platform will be linked to the existing Invest in Dubai portal and serve as the official contractor registry.

The Municipality is also responsible for:

  • Issuing professional competency certificates
  • Creating a code of conduct for the industry
  • Classifying contractors in construction, building, and demolition
  • Enforcing compliance with approved classification and operating capacity

Law Applies Across Zones, with Specific Exemptions

The law applies to all contractors operating in Dubai, including those in free zones and special development zones, such as the Dubai International Financial Centre (DIFC). However, contracting activities related to airport infrastructure and other exceptions approved by the Executive Council are excluded.

Penalties and Compliance Deadlines

The law imposes strict penalties for non-compliance:

  • Fines ranging from Dh1,000 to Dh100,000
  • Repeat violations may result in doubled fines up to Dh200,000
  • Additional measures include license suspension, contractor downgrading, and removal from the registry

Contractors currently operating in Dubai must regularise their status within one year of the law’s implementation. This deadline may be extended by the committee for an additional year if necessary. Contractors with expiring registrations during this period can renew them by submitting a pledge to comply with the law.

Law Effective in Six Months

The new law will take effect six months after its publication in the Official Gazette, and any conflicting legislation will be annulled.

This initiative marks a significant step in reinforcing Dubai’s position as a global hub for world-class infrastructure, while ensuring higher levels of efficiency, transparency, and professionalism in the contracting industry.

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Announcements

Book flights with cryptocurrency: Emirates to launch digital payments in 2026

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Good news for tech-savvy travellers, starting next year, Emirates Airline will let passengers pay for their flight tickets using cryptocurrency.

The Dubai-based carrier has signed a preliminary deal with global platform Crypto.com, paving the way for crypto payments via Crypto.com Pay. This move will offer a new level of flexibility and convenience for passengers booking flights on one of the world’s leading airlines.

The digital payment feature is expected to launch in 2026 and will be especially appealing to younger, digital-first travellers who prefer using cryptocurrencies like Bitcoin, Ethereum, and other supported tokens.

Adnan Kazim, Deputy President and Chief Commercial Officer at Emirates, said the move reflects the airline’s goal of staying ahead of evolving customer needs. “This partnership allows us to meet the expectations of a new generation of travellers who want more control and choice in how they manage their journeys,” he said.

Beyond just flight bookings, Emirates and Crypto.com also plan to collaborate on marketing initiatives, potentially offering crypto-based travel promotions or rewards in the future.

For travellers flying in and out of Dubai, this is part of a broader shift. Increasingly, everything from hotels to real estate is now embracing digital currency payments.

What it means for travellers:

  • Book Emirates flights using supported cryptocurrencies
  • Skip currency conversion hassles when travelling internationally
  • Enjoy smoother digital-first travel experiences
  • Be part of Dubai’s growing blockchain and crypto-powered ecosystem

With this new payment option on the horizon, planning your next trip might soon be just a few crypto clicks away.

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Announcements

Star power boosts Super60 with Guptill, Parnell, Harbhajan

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It was a landmark day for cricket in the USA as the teams assembled an exciting mix of international stars and emerging talents during the draft for the inaugural Super60 USA Tournament, held on Friday with prominent names like Martin Guptill, Wayne Parnell, Varun Aaron and Lendl Simmons making the headlines.

Teams had already locked in eight players as part of their pre-signings. In the draft, they were allowed to choose between seven to 10 more players.

The LA Strikers had already secured big names like Aaron Finch, Isuru Udana, and Ben Dunk in their pre-signings. During the draft, they further strengthened their lineup by picking Gurkeerat Mann, a dynamic all-rounder known for his decent strike rate and handy off-spin. The franchise also brought in experienced wicketkeeper-batter Naman Ojha and seasoned medium-pacer Parvinder Awana, clearly aiming to build a well-rounded squad with depth in every department.

Morrisville Fighters put together a strong core by signing two of India’s finest bowlers — Harbhajan Singh and Munaf Patel. They further added fire power in the batting department with the signing of Shaun Marsh. The franchise continued to build on that solid base with the additions of powerful all-rounder Colin de Grandhomme, pacer Sheldon Cottrell, and experienced campaigner Faiz Fazal.

Rebel Warriors made a statement during the draft after they signed Martin Guptill and Lendl Simmons one after the other. The two batters are known for their aggressive and will play a massive role in providing a brisk start to the team. They also have Saurabh Tiwary whom they signed during the pre-signings to add more aggression in the batting department while the experience of Mitchell Johnson with the ball will be the key for Rebel’s success.

Chicago Players who already had legends in Suresh Raina and Jacques Kallis in their line up got Wayne Parnell, Varun Aaron and Devendra Bishoo to add more fuel to their bowling unit.

Detroit Falcons went into the draft with a clear game plan — to stack their squad with quality all-rounders. With Shakib Al Hasan already in the lineup, they added Mossaddek Hossain and Ariful Haque, two reliable performers with solid domestic records.

With Parthiv Patel, Chris Lynn, and Ravi Bopara in their batting lineup, the Washington Tigers have plenty of experience and firepower up top. On the bowling side, they’ll be counting on Abhimanyu Mithun, Dan Christian, and Shahbaz Nadeem to do the job with the ball and keep the opposition in check.

LA Strikers:

Pre-Signing- Aaron Finch (Icon), Isuru Udana (Platinum), Ben Dunk (Cat A), Chadwick Walton (Cat B), Ashley Nurse (Cat B), Anureet Singh (Cat C), Chirag Gandhi (Cat D), Jesal Karia (Cat C)

Draft- Gurkeerat Mann (Cat B), Naman Ojha ( Cat B), Jaskaran Malhotra (Cat C), Parvinder Awana (Cat C), Manan Sharma (Cat D), Nisarg Patel (Cat D), Kashyap Prajapati (Cat D)

Morrisville Fighters:

Pre-Signing- Harbhajan Singh (Icon), Shaun Marsh (Platinum), Munaf Patel (Cat A), Angelo Perera (Cat B), Bipul Sharma (Cat B), Chamara Kapugedera (Cat C), Danushka Gunathilaka (Cat C), Kristopher Ramsaran (Cat D)

Draft- Colin de Grandhomme (Cat B), Sheldon Cottrell (Cat B), Jerome Taylor (Cat C), Faiz Fazal (Cat C), Suboth Bhati (Cat D), Rahul Yadav (Cat D), Elmore Hutchinson (Cat D)

Rebel Warriors:

Pre Signing- Thisara Perera (Icon), Mitchell Johnson (Platinum), Saurabh Tiwary (Cat A), Miguel Cummins (Cat B), Kennar Lewis (Cat B) , Samit Patel (Cat C), Oshane Thomas (Cat C), Amila Aponso (Cat D)

Draft- Martin Guptill (Cat B), Lendl Simmons, (Cat B), Chaturanga de Silva (Cat B), Jonathan Carter (Cat C), Jonathan Foo (Cat D),  Andre McCarthy (Cat D), Trevon Griffith (Cat D)

The Chicago Players:

Pre-Signing- Suresh Raina (Icon), Jacques Kallis (Platinum), Shehan Jayasuriya (Cat A), Manpreet Gony (Cat B), Kesrick Williams (Cat B), Dilhara Fernando (Cat C), Jon-Russ Jaggesar (Cat C), Navin Stewart (Cat D)

Draft- Wayne Parnell (Cat B), Varun Aaron (Cat B), Devendra Bishoo (Cat C), Siddharth Trivedi (Cat C), William Perkins (Cat D), Pawan Suyal (Cat D), Vikas Tokas (Cat D)

Detroit Falcons:

Pre-Signing- Shakib Al Hasan (ICON), Cameron Delport (Platinum), Rishi Dhawan (Cat A), Nasir Hussain (Cat B), Sharad Lumba (Cat B), Nasir Hussain (Cat B), Malinda Pushpakumara (Cat C), Anthony Bramble (Cat D)

Draft- Mossaddek Hossain (Cat B), Enamul Haque Jr (Cat B), Ariful Haque (Cat C), Kamrul Islam Rabbi (Cat C), Rony Talukdar (Cat D), Al-Amin Hossain (Cat D), Mohammad Nihaduzzaman (Cat D)

Washington Tigers:

Pre-Signing- Parthiv Patel (Platinum), Chris Lynn (Cat A), Ravi Bopara (Cat B), Andrew Tye (Cat B), Rohan Mustafa (Cat C), Abhimanyu Mithun (Cat C), Zahoor Khan (Cat D)

Draft- Dan Christian (Cat B), Shahbaz Nadeem (Cat B), Phil Mustard (Cat B), Jeevan Mendis (Cat C), Sheldon Jackson (Cat D), George Worker (Cat D), Aakarshit Gomel (Cat D)

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