Dubai has announced the construction of a 17-storey Crypto Tower to adapt to the growing blockchain and Web3 technology. The Crypto Tower will boast 150,000 square feet of leasable space for the Web3 community to build projects. The United Arab Emirates is looking to leverage blockchain technology and make it a hub for all innovations. The UAE is in a race with the US to clinch the title of the world’s blockchain hub.
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JUST IN: 🇦🇪 Dubai Government to build a 17-storey Crypto Tower to be completed by 2027.
— Watcher.Guru (@WatcherGuru) January 15, 2025
The upcoming 17-storey Crypto Tower will be situated at the Dubai Multi Commodities Centre (DMCC) region. The DMCC is the city’s international business district that drives the flow of global trade. The free-trade zone will soon attract crypto businesses into its fold as the UAE encourages advancing blockchain tech. The construction of the ambitious project is expected to be completed in the first quarter of 2027.
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Construction of Crypto Tower in Dubai To Be Completed in 2027
The soon-to-be-constructed Crypto Tower in Dubai also is a hub for AI innovation, among other technologies. Three floors will be dedicated to blockchain incubators, while the other floors will be occupied by Web3 firms. It would also boast of fintech advancements with crypto clubs, gold shops, and a 5,000-square-foot vault storage area. “The Crypto Tower is a pioneering development that sits at the interface of blockchain, Web3, and real estate,” said Ahmed Bin Sulayem, Chief Executive Officer of DMCC.
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“With over 150,000 square feet of leasable space, including nine office floors, three dedicated floors for blockchain incubators, an AI innovation floor, a crypto club, gold bullion shop, and vault storage area, the tower will provide a range of cutting-edge facilities and services for the benefit of our members. The launch of Crypto Tower is both a real-world demonstration of the future of Web3, where transparency and ownership are ensured by blockchain technology, as well as a statement of our intent as we continue to consolidate Dubai’s position as the world’s leading innovation hub,” he said.