Press Releases 2 May 2018Press Releases
Westbury Investments makes history, becoming the first ever real estate & property investments company to accept cryptocurrency
Investors and buyers will now be able to buy or invest in Real Estate & Properties using the digital currency.
London based Real Estate Investments company broke new ground this week by becoming the first ever Property & Real Estate Investments company to accept Cryptocurrency for investments in real estate. Westbury Investments will now allow its investors and buyers to use digital currency as a mode of payment for buying properties in Dubai UAE for its ongoing projects in partnership with Dubai’s award winning & most emerging developer Samana Developers.
Westbury Investments move is a big boon to Cryptocurrency and Blockchain legitimacy. It also galvanizes Westbury’s reputation as a Real Estate Fintech pioneer.
With the aggressive emergence of innovative and reputable Blockchain platforms, UK has established itself as a major Fintech and Blockchain hub in Europe.
The new benchmark has been set by Westbury Investments and Samana Developers, taking advantage of a more secured and decentralised mode of payment, compared to the existing traditional methods, where initiating an international payment often involves the participation and involvement of multiple intermediaries and a complex system of procedures that results in long waiting times and expensive intermediary transaction fees.
The transparent and secure nature of the Blockchain makes it an incredibly effective solution in carrying out transactions of this nature. With analysts believing, that acceptance of digital currency as a mode of payment will become common practice in the near future for similar high net worth Real Estate & Property Investment transactions worldwide.
Westbury Investments in partnership with Samana Developers recently launched “SAMANA GREENS”, Dubai’s new upmarket master community. An affordable Dubai dream, located in the heart of Arjan within Dubailand which is also a prime location for Dubai Expo 2020. 30% of the Apartments were sold before the pre-launch due to an increasing demand from Investors around the world to invest in Dubai. According to the report issued by DLD’s Department of Real Estates Studies and Research, Q1 2018 saw a total of 9,092 sales transaction worth about $5.2 billion, 3,717 mortgage transactions worth over $8.3 billion, and 950 other transactions valued at $2.3 billion.
“Many people around the world have invested in cryptocurrencies, and a lot of these people are also the regular investors in the real estate and properties, So it makes sense to offer a digital currency as a mode of payment for property buying and investments providing utility to existing cryptocurrencies.”, said Asim Bhutto – Chairman Westbury Investments.
Asim Bhutto further added, that reputable exchanges & digital currency wallet platforms which follow KYC and AML regulations, would handle the transactions at the time of payment.
Providing utility to digital currencies is a feather in the cap for United Kingdom, where Westbury Investments is headquartered, which is very quickly becoming recognized as the fintech capital of the world.
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 traditional payment methods or cryptocurrency which is gaining popularity every day.
Hasnain Bayar of Boom Media Network, PR and Marketing specialist in the Real Estate & Digital Currency sector who advised Westbury Investments officials to accept Cryptocurrency, is optimistic about the move. He asserts that accepting Cryptocurrency will give Westbury Investments a competitive advantage in the Dubai Real Estate & Property market, as investors in Cryptocurrency would be able to utilise their digital currency with this added utility.
Asim Bhutto is very optimistic about this innovative initiative and said, “With everything related to Westbury Investments & Cryptocurrencies , there is lot more yet to come”, Westbury Investments will be introducing similar mode of payments via digital currencies for its UK based Real Estate and Property projects, allowing both UK based and Overseas Investors to Invest in UK Real Estate market using the cryptocurrency.
About Westbury Investments
Westbury Investments is an independent Global investment management company with main focus to provide global coverage to our clients focusing on smart investment model to ensure long-term success. Headquartered in the heart of London, Westbury Investments specialises in offering a unique, bespoke service, matching carefully the needs of each individual client.
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