Dubai Developer Offers Cryptocurrency Discount On New Project

Samana Developers, a Dubai-based developer, is offering a discount to buyers of homes in its maiden project who want to make payments through cryptocurrency.

The 7 percent discount was announced as the company broke ground on Samana Greens in Dubai’s Arjan community which also hosts the Miracle Gardens.

The AED75 million Samana Greens residential project will deliver 131 residential units comprising of studio to two-bedroom apartments.

The construction work is scheduled to start this month and will be completed in April 2020 – six months before the Expo 2020 begins.

Samana Group - the holding company of Samana Developers - said it is currently deploying the option of cryptocurrency payments across the group.

"Property buyers will be able to make transactions by using developer’s digital currency channel, which will save time and effort," the developer said in a statement.

It added that the residential units will be loaded with smart home technology while the project also includes a sauna and gymnasium, a themed retail area, basement parking, secured play area for kids and plenty of green spaces for its residents.

Imran Farooq, CEO of Samana Group of Companies, said: “As a developer with a futuristic vision, Samana Greens will be based on green building concepts. It is befitting to help the customers to give the freedom to choose their preferred mode of payments – be it cash, cheque, credit card, home finance, bank transfer of cryptocurrency – which is gaining popularity every day.

“Dubai’s mature and well-regulated real estate market and its inclination to high-quality living has given us confidence to start our journey in real estate market."

He added: “With Samana Greens, we want to offer the best to our clients. The project will be fully financed by us that gives us the comfort of delivering it on time and with the best quality.”

Following the start of the construction, Samana Developers said it will announce the commercial launch of the project with a pricing and payment plan to attract home buyers.