Dubai’s Tallest Building in the World, Burj Khalifa, Allegedly Was Going to Accept Payments in Crypto

Dubai’s biggest publicly traded developer Emaar Properties PJSC has denied reports that they have plans to accept cryptocurrencies as payments.

Emaar Properties is a real estate development company located in the United Arab Emirates. It is a public joint-stock company and is listed on the Dubai Financial Market and has a valuation of $9.7 billion USD as of June 2018. The company operates internationally providing property development and management services. Emaar Properties Dubai is one of the largest real estate developers in the UAE and is known for various large-scale projects such as developing Burj Khalifa, the tallest building in the world.

A few days back were rumors across social media that the company citing an alleged Emaar circular to real estate brokers as saying that the developer will accept payment in digital currencies such as Bitcoin and Ethereum through a broker in Switzerland.

The Tweet that broke the story has been taken down since the news had been confirmed to be fake. However, the text in the Email read as follows:

“We are pleased to announce now that all customers will be able to buy Emaar Properties using digital currencies (Bitcoin and Ethereum). “The transaction will happen through one of the biggest brokers of digital currencies in the world ‘Bitcoin Suisse’ who are regulated and based in Switzerland.”

In a response to the quotation, one of the representatives for the company said:

“Emaar does not accept payment in digital currency. Emaar only accepts payment in government-issued currency, primarily in UAE dirham and US dollar.”

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