Samana starts accepting cryptocurrency for sale transactions
DUBAI, May 20, 2021
Dubai-based Samana Developers has announced that it has begun accepting crytocurrency Dogecoin Crypto (with 5 per cent discount) as payment mode for its key Dubai projects such as Samana Golf Avenue, Samana Hills and Samana Greens.
It will be using Cayman-islands based Binance cryptocurrency exchange for the transactions.
Samana Developers said its studio apartments are up for grabs with starting prices set at Dh399,000 ($108,617) onwards, while one- and two-bedroom units come with various payment options - from Dh599,000 onwards – thus making Samana projects more attractive to both end-users and investors.
As per this special scheme, the Dubai developer will be offering 50% financing on its Samana Golf Avenue project; an attractive proposition for end-users and investors alike, and is the developers’ rent-to-own approach.
With a payment option of paying 10% on booking, followed by 80 months at just one (1%) per cent makes it an excellent option for those who are looking to move from rented accommodations to owning a home, it added.
CEO Imran Farooq said: "Digitalization and Covid-19 accelerated work transformation has changed the world. Samana Developers remains vigilant of the changes and quickly adapt to it.
"Decentralized finance and digital payment are forms of finance and new payments systems that do not rely on middle-men - conventional brokerages, exchanges or banks. This is accomplished using smart contracts for real estate buyers which are automated agreements that use online blockchain technology instead."
To encourage its buyers, Samana Developers has offered 5% discount to investors who will use Dogecoin for Samana’s upcoming project which will be launched in June/July, stated Farooq.
International companies which are currently using Dogecoin include US-based NBA’s Dallas Mavericks, Latvia’s AirBaltic, Canada’s EasyDNS, US’s luxury resort company Kessler Collection, among others.
Farooq said Samana's innovative initiative in Dubai real estate market has helped drive growth and create better value for investors.
"That approach was the reason we achieved top-ranked seller position in Arjan," he added.-TradeArabia News Service
