Commercial tenants are now able to pay rents and service charges by using digital currency
The owner of the Star Business Centre facilities in Dubai, Samana Group says it is now accepting digital currencies as rental payment for its office space in Dubai’s JLT and DMCC areas.
Star Business Centre, part of Dubai-based Samana Group, is one of the few licensed commercial premises, service provider and diversified business conglomerate active in the UAE who are able to offer the cryptocurrency payment system. According to the company, a “new digital payment system will allow Star Business Centre’s multinational and SME customers to focus on their business growth and expansion, without having to go through the time-consuming manual processes.”
Dubai launched its first cryptocurrency in 2017 – emCash – through the Dubai Accelerators programme but Samana Group said it was especially keen to ensure businesses could also pay using other widely used digital currencies, including Bitcoin which is (on average) equal to Dh51,276.07.
“I am pleased to announce that Star Business Centre is ready to process transactions in cryptocurrency as the new financial technology is changing the way customers make payment. Our customers can now make their payments through cryptocurrency that reduces hassles and allows them to focus on their core activities,” said Imran Farooq, CEO of Star Business Centre, and Group CEO of Samana Group. “We have recently been watching the cryptocurrency revolution and how Dubai is leading the way in GCC in embracing futuristic technologies that encouraged us to enhance our business capability and align them with our business offerings. Accepting cryptocurrency from our customers in Bitcoin is the latest facility. The fundamental of our business strategy is to make our clients’ businesses and life much easier –saving time, effort and money, and eventually help them to focus on their business growth and expansion plans.”