This article is from the Australian Property Journal archive
ULTIMO lingerie founder Baroness Michelle Mone and her billionaire boyfriend Dough Barrowman have launched a new $US330 million Bitcoin development.
In a world-first, apartments at Aston Plaza and Residences in Dubai will be priced and sold in the cryptocurrency.
Spanning over 2.4 million square feet, above a shopping mall, the two 40-storey residential towers will comprise 1,133 apartments. This is the first joint business venture between the couple, Baroness Michelle Mone and Doug Barrowman, the chairman of the Knox group of companies.
The initial tranche of 150 apartments is available to the cryptocurrency community to buy directly.
“I am thrilled to be launching a project of this scale as a step in the property development business,” Baroness Mone said.
“I have ensured, along with my business and life partner Doug, that our new development in Dubai offers exceptional homes to professionals and young families.
“Doug and I are both trailblazers in our own business sectors, so of course we wanted this to be different, unique and exciting – not just in the world of property, but also tech.
“This is why it is the first-ever development to be priced in Bitcoin. This is a launch of many ‘firsts’ in business and I look forward to an exciting project ahead for myself, Doug and the team,” she added.
Barrowman said Bitcoin’s meteoric rise in a few short years means it is now the world’s leading cryptocurrency.
“This is exactly why we are the first property development ever to be priced in Bitcoin. I believe, as it gains mainstream adoption, many will follow our lead on this. 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,” he said.
Studio apartments will start in price from approximately 30 BTC (133,000 USD) and it will be processed by payments platform BitPay.
Prices for one bedroom and two bedroom units start at 54 BTC and 86 BTC respectively.
BitPay already provides bitcoin payment tools to companies such as Microsoft and Richard Branson’s space venture Virgin Galactic.
“Bitcoin payments offer a significant leap forward for high-value international payments,” BitPay CEO and co-founder Stephen Pair said.
“These property purchases can now happen in minutes from anywhere in the world with the speed of sending an email. 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,” Pair said.
Australian Property Journal
