The Trump International Hotel and Tower in Dubai will accept Bitcoin and other cryptocurrency not specified for real estate purchases. The project will not be finished for five years, so the details are somewhat rare.
Although the tower will include a hotel and a clubhouse for tourists and temporary customers, crypto payments are only available for condos acquisitions. The permanent occupation units will sell between $ 1 and $ 20 million each.
Trump’s Dubai project mixes crypto and real estate
According to a national report, Eric Trump is apparently the main representative of his family in this plan. The Trump organization builds the Trump International Hotel and Tower in Dubai, and Eric is his executive vice-president.
He made several comments describing the plan to accept cryptographic payments:
“”[The Tower] Will be the first really large-scale project that accepts Bitcoin, which accepts the cryptocurrency to buy units, and it is really exciting for me, because I like this world and I am deeply invested in this world. I believe in cryptocurrency. When I can see two worlds that I really like to come together, it’s very exciting, “said Eric Trump.
Trump’s name has exceeded Bitcoin as an asset that allows these purchases, but it has not described any other specific jet. To be clear, the tower will contain both a hotel and condominiums for a permanent occupation; Only the latter can pay with Crypto.
There is also no apparent plan to use tokenized real estate strategies. Crypto will be purely used as a payment option.
The Trump family joins Dar Global, a listed company in London, to launch this Dubai development project at $ 1 billion. Its two penthouses will have a requested price of $ 20 million, while other condos will cost between $ 1 and $ 1.2 million.
If everything goes as planned, the tower will open in five years.
Eric Trump is an influential member of his family cryptographic companies thanks to his involvement with WLFI. He also sits on the Metaplanet Advisory Council, lending more credibility to his interest in the crypto.
Eric Trump should also appear in Token2049 in Dubai, which could give him another opportunity to announce the project to potential buyers.
Dubai is an attractive destination for the Trump International Hotel and Tower because it has a booming real estate market and an increasing cryptography center.
Since the construction is still at its beginnings, the details on the project are relatively sparse, but it benefits from several solid fundamentals. Its success could be proof of precious concept for real estate developments worldwide.
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