Summary
⚈ Eric Trump says the project will redefine luxury and price standards in Dubai real estate.
⚈ Crypto volatility concerns have eased with stablecoins, making real estate payments more viable.
Scheduled for completion in 2029, the 47-story Trump Tower in Dubai, located on Sheikh Zayed Road, will offer a variety of purchasing plans, with prices estimated to range from $1 million for a four-bedroom apartment to $20.4 million for a penthouse.
Notably, the Trump Organisation has confirmed it will accept cryptocurrency payments for property purchases, per a statement made by EVP Eric Trump to The National, a United Arab Emirates-based news outlet, on April 29.
“Dubai’s real estate market is going to continue to absolutely boom and we’re going to set the kind of new standard in terms of price per square foot and luxury in the market,” Mr Trump said.
Trump Tower Dubai accepting cryptocurrencies for payment could accelerate adoption
While accepting cryptocurrency payments for real estate is nothing new — the first such instance having occurred in 2022, this particular use case hasn’t caught on and reached mainstream appeal. However, developments like the one regarding the Trump Tower in Dubai could serve to change that going forward.
Eric Trump, the organization’s executive vice president (EVP), unveiled the official launch of the project in a December 11, 2024 X post, announcing the investment of $1 billion in a development in Dubai.
With a more mature cryptocurrency ecosystem in place, particularly with the rise of stablecoins, what was once considered the main obstacle toward the widespread use of crypto in real estate transactions, volatility, is now an entirely solvable issue.
Featured image from Shutterstock
