New Crypto Centre powers Dubai's DMCC free zone to 20,000+ licensed companies
New crypto-focussed initiative could prove a big winner this says, says Ahmed Bin Sulayem
Dubai: The commodities focussed DMCC free zone in Dubai licensed a further 2,485 companies in 2021 to raise its total past 20,000 member companies. The full-year registrations are DMCC's best ever since inception. The hub set new records for the months of June, August, September and November. In 2020, 2,025 companies had signed up.
The gains were also led by the crypto-linked initiatives the free zone had rolled out. In partnership with CV Labs, it opened the DMCC Crypto Centre, an “ecosystem” for businesses operating in the cryptographic and blockchain sectors. Located in Almas Tower, the Crypto Centre offers a base to all types of crypto businesses, from companies developing blockchain-enabled trading platforms, through to firms offering, issuing, listing, and trading crypto assets.
A full-scale refinery
In April last, DMCC signed a land sale and purchase agreement with REIT Development to build the "largest precious metals refinery and storage facility across the GCC". It will also be the first to be completely enabled by blockchain in the GCC. The facility will refine and store precious metals including gold, silver, platinum, palladium and rhodium.
“This year, I have seen first-hand how crypto interlinks across our industries, so I am proud that DMCC is championing the cryptographic space in Dubai,” said Ahmed Bin Sulayem, Executive Chairman and Chief Executive Officer, DMCC. “From 2018-21, 8,347 new companies joined DMCC and became ambassadors for doing business in Dubai.
"Had our trade ecosystem – strategically developed and enhanced over two decades – not been in place, Dubai could have lost out on the substantial associated economic impact. The future is bright and further records will be broken."
Steady on the Uptown
"Significant progress" has been made on the Uptown Tower, the first tower to be released in DMCC’s Uptown Dubai mixed-use district. Scheduled for delivery in the third quarter, the tower is now past the 270 metre mark. Leasing for office spaces has commenced. As the master developer of Jumeirah Lakes Towers, DMCC initiated major landscaping projects and smart services to benefit the 100,000 people living and working in the cluster.
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