Two high-profile UK entrepreneurs are launching a new luxury apartment complex in Dubai, aiming to cater to those with considerable cryptocurrency holdings.
The “Aston Crypto Plaza” is being spearheaded by Baroness Michelle Mone, lingerie designer and member of the UK Parliament, and her partner Doug Barrowmen, a business mogul and founder of private equity firm Aston Ventures.
In an interview with CoinDesk, Mone said that the complex will feature 1,133 luxury apartments spread over 2.4 million square feet, while also sporting a gym and a swimming pool all aimed at “the amazing blockchain community,” she added.
As might be expected, the flats aren’t cheap, costing between $133,000 and $379,000. The venture is accepting payments in bitcoin, with BitPay serving as payment processor.
“These property purchases can now happen in minutes from anywhere in the world with the speed of sending an email,” Stephen Pair, BitPay’s CEO, said in an email.
Barrowmen told CoinDesk that he felt the venture was the perfect opportunity for bitcoin investors to convert their holdings into “real brick-and-mortar” assets.
Mone – who was awarded the Order of the British Empire in 2010 – further joked that, given her background as the founder of lingerie company Ultimo, she had “plenty of experience in construction.” The 40-story apartments block was “nothing compared to the G-cup,” she laughed.
The apartments will be made available for pre-purchase from their website as of today, and early purchasers will be entered into a raffle to win a free apartment, “subject to a minimum 50 apartments being sold,” a press release stated.
Disclosure: CoinDesk is a subsidiary of Digital Currency Group, which has an ownership stake in BitPay.
Baroness Mone image via Shutterstock