An agent listing on Commercial & Residential People – Invest Group has been selected as one of the agents who can sell Emaar Properties to its clients using digital currency.
Conducted through the popular digital currencies Bitcoin and Ethereum, these transactions will be done through a list of licensed institutions.
Commercial People spoke exclusively to the Invest Group’s CEO, Charaf Zouaoui, and asked him for more information regarding cryptocurrency and property in the UAE.
CP: Do you feel this is the right time for cryptocurrency to be adopted in the property market in the UAE?
- CZ: There are a few big companies using this form of payment but in particular Emaar now sells properties with Crypto. The people of GCC and especially of UAE are far more knowledgeable about it than ever, it is undoubtedly the right time.
CP: Why do you feel cryptocurrency is right for a country like UAE?
- CZ: UAE is always among the first, from driverless electric cars to space exploration to digital currency… When it comes to the world’s latest achievements, you name it, and the UAE is already working on it.
CP: You have many years of experience in the property market of UAE, first-hand have you had clients interested to pay via cryptocurrency? Would you say the demand is there for this payment method?
- CZ: Yes, and the number of interested clients and this is growing on a daily basis.
CP: Emaar is a leading global property developer with an estimated valuation of $9.7billion in June 2018, do you expect the other property developers to follow their steps?
- CZ: To use crypto as a way of payment? Yes, there are companies adopting cryptocurrency, in particular, bitcoin as a payment method.