Damac Properties, a Dubai-based real estate giant affiliated with the United Arab Emirates, has decided to accept Bitcoin and Ethereum in property sales.

In a statement issued by Damac Properties, it was stated that the Dubai-based company is adopting digital currencies to keep pace with the digital transformation project. Accordingly, the company has added the two largest crypto assets in the market, Bitcoin and Ethereum, as payment options.

Damac Properties started its activities in 2002, and continues its activities in many countries, especially in Qatar, Saudi Arabia, Oman and England, with the exception of Dubai. The company's profit last year was $816.8 million.

Apart from accepting cryptocurrencies in sales transactions, the company has investment plans within the metaverse world, which is closely related to the cryptocurrency industry. With the aim of building virtual cities with the new Metaverse project, DAMAC stated that funding of about $100 million has been allocated for this purpose.