When blockchain innovation enters different sectors, it certainly has something loud to say, doesn’t it? In developing countries like the UAE, where real estate is booming, blockchain technology is stamping its signature in the realm, bringing innovative outcomes.
In the Middle East, Idealist Real Estate, a Dubai-based real estate company, has signed up with Citi Developers and Xerime DMCC to implement crypto payment technology into real estate. Dubai, in particular, is already overwhelmed with several real estate companies, and the sector is a shining gem for blockchain developers.
An official statement read that this move is aligned with the UAE’s national digital economy agenda. The official launch of the collaboration will happen at the Blockchain Life Forum (Oct 28–29, 2025).
What’s the new joint crypto payment technology about?
Crypto for real estate transactions is the key notion of this joint partnership. And, Xerime DMCC, a Dubai-based licensed proprietary trading company, is the core technology and compliance backbone for crypto payment in real estate. In proprietary trading, a company uses its own capital (money) to buy and sell assets.
Global wealth is already moving to blockchain platforms, and Dubai is the first region to create a fully regulated framework for this technology (VARA), noted Grigory Rybalchenko, CEO of Xerime DMCC. With the new venture, real estate properties can now be bought and sold with the same security, efficiency, and transparency.
“What we are building is not a payment feature but a financial infrastructure,” said the CEO.
For Zoraiz Malik of Citi Developers, integrations like this represent the “real evolution of the digital economy — where infrastructure is made truly usable at an institutional level”.
VARA, or Virtual Assets Regulatory Authority, is the comprehensive regulatory framework for virtual assets in Dubai. According to the regulatory body, the emirate has already processed more than AED 2.5 trillion (USD 680 billion) in fully regulated virtual asset transactions since the start of 2025.”
Blockchain in real estate
The team venture by Idealist Real Estate, Citi Developers, and Xerime DMCC is part of Dubai’s wider initiative of blockchain in real estate. Earlier in September, RAK Properties started accepting crypto payments for real estate purchases. Before this initiative came the Dubai Land Department’s (DLD) real estate tokenization project, enabling fractional ownership of properties and blockchain-based investment.
As blockchain innovation is rapidly progressing in the UAE, along with the real estate realm, more advanced crypto-integrated property solutions are expected to come in the near future.
