DAMAC Properties, in collaboration with Umisiri Africa, has announced a new program allowing the use of cryptocurrency for the purchase of luxury real estate in Dubai. This initiative highlights the growing influence of digital assets in high-value transactions in the real estate market.
Real Estate Purchases with Cryptocurrency
As of June 2025, Umisiri and DAMAC have launched a program allowing property buyers to exchange cryptocurrency for luxury properties starting at $500,000. Acceptable cryptocurrencies include Bitcoin (BTC), Ethereum (ETH), and Tether (USDT). The announcement took place at a Luma-hosted event titled 'Token to Title Deed: Investing in DAMAC Through Crypto.' The program targets high-net-worth individuals looking to diversify their assets in Dubai's real estate market.
Difference from Tokenization
This initiative differs from the Prypco Mint platform, which offers fractional ownership through tokens on the blockchain. The DAMAC and Umisiri model processes cryptocurrency payments while maintaining ownership rights off-chain. Buyers receive conventional legal ownership through the Dubai Land Department, often via offshore entities permitted by UAE law. No blockchain token is issued for the property title.
DAMAC's Blockchain Strategy
DAMAC has been actively integrating blockchain technology into its operations. In January 2025, the company signed a $1 billion deal with blockchain firm MANTRA to tokenize future projects on the MANTRA platform. This initiative is expected to launch later this year and will involve issuing digital tokens representing fractional ownership of real estate assets. However, this remains distinct from the Umisiri crypto-payment program.
The Umisiri and DAMAC initiative underscores the evolving interaction between digital finance and traditional assets. Purchasing real estate with cryptocurrency opens new horizons for investors looking to utilize digital assets in the real world.
