Bitcoin Now Accepted As A Payment Option For Purchasing RAK Luxury Hotel Units


UAE-based hospitality management firm Cristal Group has announced that Bitcoin (BTC) can now be used to purchase the Al Mahra Resort luxury hotel units which are located in Ras Al Khaimah?s Al Marjan Island.

The luxury hotel units are part of a beautiful four-star luxury resort that happens to be the first Middle Eastern project that gives customers the option of buying using cryptocurrencies. The resort which is being constructed for a total of Dh350 million is scheduled to be opened in 2020.

The 4-star luxury resort is owned by a business conglomerate called FAM Holding. The property features 548 tastefully designed and furnished suites, villas and rooms that feature the latest technology offerings as well as other luxury offerings. Interested parties will also be provided with a buy option under strata title.

Some of the facilities offered at the Al Mahra Resort include an all-day-dining restaurant, high-tech meeting rooms, a gym, a trendy lobby caf?, covered parking, and an infinity pool. It also features water sports facilities, kids club, a wellness club, and a spa for both men and women.

?Some of the biggest names worldwide are warming up to cryptocurrencies; therefore, it is logical for us to offer people the opportunity to pay in bitcoins or similar currency rather than just fiat currency,? stated FAM Holding?s Chairman and owner, Faisal Ali Mousa Al Naqbi.

Bitcoin payments are an attractive option

He also pointed out some of the advantages of cryptocurrencies such as transaction security, speed, and transparency courtesy of smart contracts. The FAM Holdings owner thus believes it is only fair to provide buyers with the option of paying through cryptocurrencies. He also believes that accepting cryptocurrency payments is a groundbreaking move for his firm.

Al Naqbi also made it clear that paying for the Al Mahra Resort with Bitcoin is just an option for any interested buyers. It is particularly ideal for non-UAE citizens who are interested in the resort units. This is because cryptocurrency transactions can be carried out within minutes and from anywhere in the world.

The cryptocurrency community has been working on encouraging more adoption of cryptocurrencies. The process has been gradual but it helps that more firms and businesses are starting to accept cryptocurrency payments.

Disclaimer: Nothing in this article should be construed as financial advice in any way, nor as an encouragement to engage in cryptocurrency trading activity. This article was not sponsored by any entities or companies mentioned in the article. The only purpose of this article is to inform/educate on the topics discussed in the article.

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