If last month’s luxury property offered to be sold via crypto was Italy’s Palazetto, this month’s would be the villas and suites at the United Arab Emirates’ Al Mahra Resort.
The 4-star luxury resort is located at Al Marjan Island in North Ras Al Khaimah, roughly an hour away from Dubai. Sprawling with 548 custom-designed suites and villas, Al Mahra Resort is indeed one of the best properties offered for purchase through cryptocurrencies.
The resort is arrayed with a plethora of interesting features: it has a multi-functional gym which can host Zumba, yoga, and aerobics sessions; its spa facilities can offer Moroccan hammam, sauna, and body care. On top of the stunning beachfront, guests can also access its infinity pool, as well as the rooftop shisha/hookah lounge.
“Cryptocurrency has radically improved the transparency, speed and security of property transactions with smart contracts; hence, it is really ground-breaking to do what we are doing,” said Dr. Faisal Ali Mousa Al Naqbi, Fam Holding’s owner and chairman. “Of course, paying in Bitcoin for this development is just an option.”
This is indeed one of the first times that investors have been given the opportunity to purchase regional real estate through cryptocurrencies. Last month, Hilton & Hyland listed the Palazzetto, a 16th-century Roman mansion, to be purchased through $42-mln worth of cryptocurrencies. Further back, a couple of condominiums in Washington D.C. were offered through cryptos as well.
Units offered at the Al Mahra Resort are priced starting from AED 532,000 (about $144,840).
(Photo Credit: Al Mahra Resort)