Economy

Spend your hard-earned Bitcoin on this luxury Dubai apartment

Spend your hard-earned Bitcoin on this luxury Dubai apartment”

But entrepreneurship is calling, and so Mone has announced a new joint venture with her business partner and boyfriend Douglas Barrowman. The prices start at 33 bitcoin, or about $150,000.

Properties are now available to view and purchase using bitcoin at https://www.astonplazacrypto.com/ and as an additional incentive, subject to 50 apartments being sold for bitcoin, one of the one-bedroom apartments from the development will be given away as the prize in a raffle, which buyers will automatically be entered into when they buy.

The development, called Aston Plaza and Residences, consists of two luxury apartment towers and shopping mall in Dubai worth GBP£250mn.

The development of 1,133 studio, one and two-bedroom apartments, is due for completion in September 2019.

It comes as The Collective, a developer that offers small rental apartments with large shared living spaces in London, said that tenants could pay their deposit in bitcoin. Further the project was developed by the well-known architects John R Harris & Partners alongside interior design by Michelle Mone Interiors.

"I am thrilled to be launching a project of this scale as a step in the property development business", explains Baroness Michelle Mone of Mayfair OBE. According to Knox Group, the development will feature three floors of cafes, restaurants, a supermarket, and boutiques.

"We are not a company that it is going to hold onto the Bitcoin personally, because we don't want to risk the development with a currency that is so volatile", says Mone. Barrowman believes Dubai property development is in a class of its own and he wanted to "merge the property and tech sectors together in a true first for the industry". Packages for interior design services and furniture can also be purchased in bitcoins.

Images via Aston Development apartments.

"I've been interested and invested in the sector for 2 years and I've also followed the blockchain story for a number of years, so have been a believer for a long time now so this isn't something that I've just come across in the last couple of months. I would, as I have done throughout my career in business, like to be the one who starts the trend, a very exciting one at that". The venture is accepting payments in bitcoin, with BitPay serving as payment processor. "Bitcoin payments offer a significant leap forward for high-value global payments", said Stephen Pair, BitPay co-founder and chief executive. "We are pleased to partner with Lady Michelle Mone OBE, Doug Barrowman, and the Knox Group of companies on this exciting opportunity for Bitcoin and for property payments".



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