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Samana Developers Begins Accepting Dogecoin with 5% Discount

Samana Developers today announced it has begun accepting Dogecoin cryptocurrency as a payment option for its upcoming residential project in Jumeirah Village Circle Dubai. Dogecoin recently gone up in the global crypto market – currently valued at 2.51 trillion – and gained traction at the back of world’s top business tycoon – Elon Musk, chief executive of Tesla and founder of SpaceX space transportation services company.

For payments through Dogecoin, Samana Developers will use Cayman-islands based Binance cryptocurrency exchange, the world’s leading crypto exchange. Binance trades two (2) billion volume daily on an average and conducts 1.4 million transactions per second.

The innovation and sustainability award-wining Samana Developers’ move is in line with its strategy of ease-of-doing-business with Samana and opening up and driving new international investor stream to Dubai properties. Using cryptocurrency for property transactions is the latest initiative by the developer. New payment option is expected to bring massive investment inflow.

Samana Ranked #1 Seller by Property Monitor
With speedy construction, on time delivery and affordable luxury assets, Samana Developers has been ranked top selling off-plan developer in Arjan area, competing with all large, mid and small size developers in Dubai. Due to the quality construction and flexible payment plans, Samana assets remained hot favourite among end-users. The ranking was monitored and organised by Property Monitor, one of UAE’s leading real estate data and market intelligence companies.

Dogecoin – an internet currency – has seen its world’s highest value coin position as the price of each token – $0.54 – hit all-time high amid a crypto market frenzy during past two weeks. Dogecoin has risen more than 26,000% since the start of the year and its market cap is more than $64 billion, according to CoinMarketCap. The coin has a massive community on Reddit and following on Twitter.

Dogecoin for New Project
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 or July 2021.

Imran Farooq, CEO, Samana Developers, said: “Digitalization and Covid-19 accelerated work transformation has changed the world. Samana Developers remains vigilant of the changes and quickly adapt to it. Our innovative initiative in Dubai real estate market helps drive growth and create better value for investors. That approach was the reason we achieved top-ranked seller position in Arjan.”

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.