FAM Holdings – a business conglomerate with various real estate investments across the Middle East – is selling a slice of the Middle East for crypto. The Al Mahra Resort is located on Al Marjan Island, Ras al-Khaimah, UAE – with it representing one the region’s most prominent resorts. This luxurious development is about an hour’s drive from Dubai and is packed full of top quality amenities.
The First Hotel Resort Listing in the Middle East
The resort is the first hotel in the Middle East to be listed for sale in cryptocurrency, but potential investors have the option to pay in fiat currencies if they wish. “Some of the biggest names worldwide are warming up to cryptocurrency,” said Dr. Faisal Ali Mousa Al Naqbi (FAM Holdings Owner and Chairman), “therefore it is logical for us to offer people the opportunity to pay in Bitcoin or similar currency rather than just fiat currency.”
The UAE prides itself on being the land of luxury and global firsts. Back in 2010, the Burj Khalifa was inaugurated as the tallest building in the world. Boasting a myriad of malls, luxury sports cars, beach clubs, and hotels, the UAE is truly a gem of the Middle East. It comes as no surprise that the UAE can now boast the first hotel sold through cryptocurrency. Not long ago, Hagan Homes in Northern Ireland began accepting Bitcoin as a form of payment for their homes, but this move takes real estate matters to the next level.
Truly One of a Kind
Similarly to Bitcoin, the Al Mahra resort promises to be one of a kind, featuring 548 custom designed suites and villas loaded with the latest tech. The Suites and Villas start at $144,842 (AED 532,000) – roughly 25.47 BTC. The beach-front resort will be equipped with a multi-functional gym – capable of hosting yoga, Zumba, and aerobics classes – along with state-of-the-art spa facilities. There will also be a range of bars, shops, and even a rooftop shisha lounge where you can unwind after a long day. Putting it simply, this resort has pretty much everything.
Other Ways to Spend Bitcoin
With every passing week, more and more companies are beginning to accept Bitcoin, so don’t worry if owning a slice of heaven in the Middle East is out of your price range. We recently put together a guide packed full of luxurious ways to spend your Bitcoin, so if you’re looking to splash the cash make sure you check it out!