PANews reported on January 15 that according to Finbold, the Dubai Multi Commodities Center (DMCC) has joined hands with REIT Development to build a 17-story cryptocurrency building in the Jumeirah Lakes Towers (JLT) area, aiming to attract blockchain developers and investors to the UAE. The building will support DMCC's rapidly growing developer community - 9 floors have been reserved for cryptocurrency startups and mature companies, and 3 floors are planned for blockchain incubators, venture capital firms and investment companies. In addition, an entire floor will be dedicated to artificial intelligence innovation.
In addition, the project includes a 10,000 square foot indoor event space and a 3,500 square foot outdoor area designed for cryptocurrency and blockchain-specific events. In addition to the core facilities, the Cryptocurrency Building will also feature an NFT art gallery, a gold bar store, an exotic car dealership, and a 5,000 square foot vault storage area. Once completed, the project will add more than 150,000 square feet of leasable space to DMCC. The construction is expected to be completed in the first quarter of 2027 and fully operational soon after.