Dubai's DMCC, a leading international business district, and REIT Development have announced the launch of the Crypto Tower, a 17-story building in Jumeirah Lakes Towers (JLT) dedicated to blockchain, DeFi, and Web3 companies. The tower will feature over 150,000 square feet of leasable space, including nine office floors, three floors for blockchain incubators, an AI innovation floor, a crypto club, a gold bullion shop, and a vault storage area.
The Crypto Tower will leverage blockchain technology to streamline tenant interactions and transactions through on-chain voting mechanisms, shared resources, smart contracts, and automated services. This approach aims to enhance transparency and trust while reducing administrative burdens. Construction is expected to be completed by Q1 2027.
The tower will also house a 10,000-square-foot indoor event space and a 3,500-square-foot outdoor area for crypto and blockchain events. The top three floors will feature a 30,000-square-foot crypto club, offering premium networking and leisure amenities.
Brenda Stratton, Communications Director at REIT Development, stated, "By combining blockchain technology with real-world construction in Dubai's DMCC, we're creating a physical tower that serves as a central hub for the crypto community. Every expense is on-chain, setting a new standard for transparency in the industry."