The Middle East has established itself as a global hub for crypto innovation due to laws crafted by UAE regulators who recognize that the world is increasingly adopting cryptocurrencies and blockchain technology. Entrepreneur Ali Bader, the owner of Sky Investments, revolutionizes the UAE real estate industry, enabling investors to buy a property with crypto.
In order to accelerate adoption, the UAE announced the Emirate’s Blockchain Strategy 2021 in 2018, effectively setting a goal for transferring at least 50% of all government transactions to decentralized technology in 2021.
At the time of the “Fourth Industrial Revolution,” this visionary approach to promoting crypto innovation has had a beneficial effect on the launch of blockchain startups in the UAE.
The crypto sector has attracted the interest of many businessmen in the UAE. One of them is Ali Bader, the owner of Sky Investments. With over ten years of expertise in the UAE, Sky Investments approaches real estate from a more creative perspective, providing a modernized service and approach to real estate.
Between 2014 and 2019, Sky Investments claimed the most real estate transactions in Dubai Marina, with over 700 million AED worth of property being sold.
On the crypto front, Bader is a big supporter of a project called Fantom, and he claims that the initiative has a lot of well-known individuals in the crypto field behind it.
Recently, at the first Fantom conference, presentations by selected professionals in the blockchain sector, roundtable discussions, networking events, and workshops focused on Fantom use-case studies, developer education, the future of Web 3.0, and best practices for project founders were on the agenda.
“I get a heavy amount of exposure to cryptocurrency, and many of my clients who buy real estate are from the crypto market,” says Ali Bader, who focuses on providing management and brokerage services. Many of his real estate clientele are from the crypto sector, resulting in his growing interest in this industry.
With the UAE being at the forefront of digital change and adaptation, buying a property with crypto is just another thing that sets them apart.
Although property developers and sellers do not accept digital currencies directly, preferring to be paid in UAE dirhams or US dollars instead. However, they work with reliable and top licensed cryptocurrency brokers around the world, which trade Bitcoin or other cryptocurrencies and convert the property’s value in UAE dirhams, and then transfer it to the developer.
Recently, the UAE Central Bank has published new anti-money laundering and counter-terrorist financing (AML/CFT) instructions for licensed financial institutions (LFI) that provide services to the real estate sector and precious metals and stone dealers (DPMS).
For property investors that are crypto enthusiasts like Ali Abdali Bader, the new regulations are groundbreaking. The incorporation of cryptocurrency into real estate investments means that both sellers and investors can enjoy the speed of transactions as well as the safety that is substantially minimizing the risk of fraudulent transactions.
Digital currency has changed the way people think about money, allowing you to purchase and sell items digitally and in many currencies. Dubai expects more than 1,000 cryptocurrency businesses to be operational by 2022, according to the chief of the Dubai Blockchain Centre. A growing number of institutional investors and wealth managers plan to increase their exposure to crypto-assets between now and 2023, which accelerates efforts to boost its digital economy.