Dubai Multi Commodities Centre (DMCC) in partnership with REIT Development, has announced the construction of the Crypto Tower in Jumeirah Lakes Towers, Dubai, United Arab Emirates.

The 17-storey development is designed to support the expanding community of blockchain, decentralised finance, and Web3 companies.

The new tower will provide more than 150,000ft² of leasable space with nine floors of offices for crypto startups and established businesses.

It will also feature three floors tailored for venture capital companies, blockchain incubators, and investment companies. A separate floor will be dedicated to AI innovation, powered by Chatoshi.ai.

Blockchain technology will help to streamline tenant interactions within the Crypto Tower, utilising on-chain voting mechanisms, smart contracts, shared resources, and automated services. This integration aims to foster trust and transparency in community management.

The Crypto Tower will also house an indoor event space of 10,000ft² and an outdoor area of 3,500ft² for hosting crypto- and blockchain-related events.

The top three floors will house an exclusive crypto club spanning 30,000ft², offering networking and leisure amenities to encourage collaboration.

Additionally, the tower will feature a gold bullion shop, a non-fungible token art gallery, an exotic car dealership, and a secure vault with 5,000ft² of space for valuables such as cash, gold, and cold wallets.

REIT Development communications director Brenda Stratton said: “By combining blockchain technology with real-world construction in Dubai's DMCC, we're creating a physical tower that serves as a central hub for the crypto community. Every expense is on-chain, setting a new standard for transparency in the industry.”

REIT Development is leading the project, with construction set to be completed by the first quarter (Q1) of 2027 and operations beginning shortly thereafter.