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Dubai Multi Commodities Centre announces “Crypto Tower”

By Neil Halligan
A rendering of the Dubai Crypto Tower that is intended to house blockchain companies Supplied/DMCC
A rendering of the Dubai Crypto Tower that is intended to house blockchain companies

Dubai Multi Commodities Centre (DMCC) and software company Reit Development have announced plans to build a 17-storey “Crypto Tower” that they say will demonstrate the use of blockchain technology. 

Blockchain will be used for tenant interactions and transactions through the use of on-chain voting mechanisms, shared resources, smart contracts and other automated services.

The 150,000 sq ft of leasable space will be reserved for blockchain, decentralised finance and Web3 companies. 

The tower, to be built in Jumeirah Lakes Towers, will feature nine floors with offices tailored for crypto startups and established businesses.

Three floors will support blockchain incubators, venture capital firms and investment companies, while another floor will cater to artificial intelligence innovation. 

The development will have a 10,000 sq ft indoor event space and outdoor area for crypto and blockchain events.

The top three floors will have a crypto club with networking and leisure amenities. 

“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,” said Ahmed Bin Sulayem, CEO of DMCC. 

Construction is expected to be complete by the first quarter of 2027.

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