Buy property in Dubai with cryptocurrency

dubai — MAG Lifestyle Development, part of MAG Group, has announced that it will offer customers the opportunity to purchase properties using OneGram, the first Shariah-compliant cryptocurrency.

Talal Moafaq Al Gaddah, CEO of MAG Lifestyle Development, said: “We are allowing our customers to benefit from the growing potential of cryptocurrencies with OneGram. In Dubai’s forward-thinking real estate market, where embracing smart digital solutions is a key priority for driving sustainable growth, we are proud to be standing apart from the pack by achieving another regional first.”

Bitcoin and other cryptocurrencies are struggling to enter the mainstream in the Middle East. OneGram is stepping in to fill this gap as the first

embracing smart digital solutions is a key priority for driving sustainable growth in dubai real estate Talal Moafaq Al Gaddah, CEO of MAG Lifestyle Development

Islamic Shariah-approved cryptocurrency.

Each OneGram Coin (OGC) is backed by a gram of gold, which ensures that it remains a fully capitalised and stable digital currency. In compliance with Shariah law, it is also zero interest, profit-loss sharing and non-speculative as it is pegged to gold.

OneGram is also simple to buy and trade and will go live in June 2018. Investors will purchase OneGram to the value of the property and receive a five per cent discount on the property price as a result. OneGram will then remit to MAG according to the payment plan, which is 35 per cent over six to nine months and 65 per cent on completion at the end of 2019.

Mohammed Ibraheem Khan, co-founder of OneGram, said: “What other cryptocurrencies have failed to achieve, OneGram has accomplished in a short space of time. We are here to stay by creating real-use cases for our token.”