First Luxury Properties in Middle East to be Sold for Bitcoin, Crypto
Bridging the gap between luxury real estate and the crypto scene for the very first time in the Middle East, a UAE conglomerate, FAM Holding, has officially offered up units based in the Al Mahra Resort for crypto.
The four-star resort is one of Ras al Khaimah’s luxury gems, situated just one hour from the capital on the Island of Al Marjan. Available to buyers hoping to purchase with cryptocurrency, this shift marks the very first luxury property to be sold as a digital currency listing.
Dr. Naqbi, owner and head chair of FAM Holding, stated that many of the largest international brands are venturing into digital currency. He feels it is only fitting that the company present this unique opportunity to buyers wishing to purchase with a variety of cryptos, including Bitcoin.
Partnering with FAM Holding is Cristal, leading brand management and hospitality firm currently working on expanding their profile to include twenty five luxury investments in a forecast of ten years time.
Another project currently underway, Al Mahra Resort, plans to include over five hundred custom-built homes and individual apartments decorated using only luxury interior design and built-in tech in hopes of attracting investors and high ranking clients across the international market including those in the crypto scene.
Valued at $95M this seaside resort is set to encompass the very essence of a retreat, including multifunctional gyms hosting yoga, aerobics, as well as other forms of cardio dance classes. In addition, the project will include spas and body care facilities offering an array of popular features such as a variety of massages, sauna facilities, and health promoting treatments. Pools, lounges, and scenic rooftop hangouts will all be a part of what owners and visitors will enjoy during their stay at the resort.
Investments ranging from just under $150K to as much as $792K will include a variety of options including one, two, and three bedroom properties. Investors are now open to making purchases with Bitcoin as well as other forms of digital currency.
Dr. Naqbi also noted that digital currency has led to a great improvement in the security and transparency of investment transactions due to smart contracts. He believes the shift will be groundbreaking, however, has kept payment solutions open to the buyer’s preference.
Working alongside Cristal, Dr. Naqbi expresses confidence in the value their premium quality will bring to their properties.