By using this website, you agree to our use of cookies to enhance your experience.


Dubai property development worth £250m will accept Bitcoin payment

Aston Property Ventures has announced the development of two luxury apartment towers and a shopping mall in the heart of Dubai – its first major venture into the property development world.

A global announcement this week details the first joint business venture between Baroness Michelle Mone OBE and businessman and philanthropist Doug Barrowman, the chairman of the Knox group of companies, including Aston Property Ventures.

The initial 150 apartments are available to the cryptocurrency community to buy directly from the property developer in Bitcoin – a first of its kind and said by many to the currency of the future.


The 1,133 apartment development will span over 2.4 million square feet, split across two 40-story residential towers above a huge shopping mall.

Mone OBE commented: “I am thrilled to be launching a project of this scale in the property sector. This is also a natural progression from the launch of Michelle Mone Interiors bringing together my two passions in business for the first time; design and property.”

“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,” she continued.

“The towers have been designed with community at its core and cater to those looking for style, lifestyle and convenience, in a beautiful location.”

The luxury development offers successful achievers and young families a desirable, convenient and sociable lifestyle in the heart of Dubai. The Apartments designed by Michelle Mone Interiors will benefit from an interior design and furniture services also priced in Bitcoin.

Industry-leading bitcoin payments platform BitPay will be processing the bitcoin transactions, and the studio apartments will start in price from 33 BTC, approximately 133,000 USD. Packages for interior design services and furniture will also be offered to purchase in bitcoins. Investors can expect to receive generous 9% rental returns on their investment after completion.

Mone explained that she and Barrowman are innovators in their respective business sectors, aiming for the project to be different, unique and exciting in the property and tech world. “This is why it is the first-ever development to be priced in Bitcoin,” she said. “It is a launch of many ‘firsts’ in business and I look forward to an exciting project ahead for myself, Doug and the team.”

Pre-sales in the highly anticipated selection of apartment developments have already reached 450, indicating the success of the project to date.

Due for completion in September 2019, Aston Plaza & Residences will provide high achievers and young families a comfortable lifestyle, leisure and convenience in the progressive Dubai Science Park. Floor-to-ceiling windows in the apartments offer unobstructed views of the Dubai Hills and the iconic city skyline. A selection of residences with balconies and private terraces boast opulently designed fitted kitchens, complete with quality integrated appliances.

Borrowman said: “This is a project I have worked very hard on for some time and the Dubai development is the pinnacle of design, architecture and commerciality. That said, I didn’t feel this was enough.”

The chairman of the Knox group of companies aimed to offer the property, tech and blockchain community a ‘unique and exclusive opportunity’ by merging both sectors together, a first for the industry.

“Bitcoin’s meteoric rise in a few short years means it’s now the most widely adopted cryptocurrency in history,” he said. “This is exactly why we are the firs 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.”

The development, designed by architects John R Harris & Partners, features bold architecture, relaxing open and sociable communal areas (designed by Michelle Mone Interiors) and a podium level leisure deck with retail, recreational and sports amenities. The Plaza includes over 120,000 square feet of retail right on their doorstep, complete with convenience stores, a leading supermarket and an array of boutiques, cafes and restaurants.

The complex will also include a range of leisure facilities, including swimming pools, tennis courts, a running track, a gymnasium and children’s play areas.

The apartments will be conveniently located between the two main airports and within the vicinity of award-winning schools. Suitably near Dubai Marina, the Palm and Downtown Dubai, the development comes with ample parking space and is within walking distance of the future Metro line extension.

“Bitcoin payments offer a significant leap forward for high-value international payments,” said Stephen Pair, CEO and co-founder of BitPay. “These property purchases can now happen in minutes from anyway in the world with the speed of sending an email.”

“We are pleased to partner with Knox group of companies on this exciting first for Bitcoin and for property payments.”


Please login to comment

MovePal MovePal MovePal
sign up