The Trump Organization’s $1 billion Dubai tower will begin accepting crypto for property sales upon completion, marking its latest venture into digital assets through a partnership in the Gulf.
Speaking to The National in the UAE, Eric Trump, the president’s son, praised the city as having “become a destination for the entire world.”
“It’s become such a safe haven for so many people, so many countries, so many people want to put money here,” he gushed. “So many people want to invest here, from all over the world, all over Europe, the Asian continent, all over Africa. Dubai has really become the epicentre.”
It marks the Trump Organization’s latest foray into Dubai’s red-hot property market, following an existing partnership with Damac Properties on two golf developments.
The Trump International Hotel and Tower, announced earlier this year, will feature a branded hotel, luxury residences, a private clubhouse, and the world’s highest pool. It is expected to be completed in about five years.
Prices for apartments range from $1 million to $1.3 million for three- and four-bedroom units, as well as two penthouses slated to cost $20.4 million each.
Dubious Dubai
Not only is Dubai marketing itself as a crypto hub and trying to attract crypto wealth, but it has long been a popular spot for criminals to hide their money, according to investigative reports.
Beneath Dubai’s glossy skyline, the city’s property sector has drawn criticism for its opacity and alleged role as a haven for illicit funds.
In 2023, a massive leak of property data exposed the extent to which criminals and sanctioned individuals have funneled money into Dubai real estate.
Dubai’s secrecy has also helped shield high-profile offenders, including people with links to money laundering networks, drug trafficking, and other organized crime activities, according to the Organized Crime and Corruption Reporting Project (OCCRP).
Latest chapter
The announcement represents the latest in the Trump family’s ever-mushrooming involvement in the crypto space.
What began with the launch of branded NFTs has evolved into a broad portfolio of crypto ventures, including meme coins, digital asset projects, collaborations with crypto companies, endorsements of the sector, and the potential integration of crypto into its social media platform, Truth Social.
Some offerings even provide high-tier investors with access to exclusive events, including dinners with President Trump.
Eric Trump has also become increasingly active in the space, recently taking on an advisory role with Japan-based firm Metaplanet. The company praised his “business acumen, appreciation for the Bitcoin community, and global hospitality experience” as motivators for bringing him on board.
He is also set to appear later this week at Token2049 in Dubai, where he will speak on a panel hosted by entrepreneur and crypto investor Justin Sun.
Edited by Sebastian Sinclair
