It was in late 2017 when Baroness Michelle Mone grabbed the headlines with the biggest Bitcoin-priced real estate project. The property, the Aston Plaza, was worth $323 million and located in the middle of Dubai. Null TX reported that the sale of more than 2.4 million sq ft development, with over 150 apartments, has been put on hold.
It is significant because buyers can use BTC to purchase one of the properties. That, however, was revealed to be in jeopardy as the project sales are put on hold. According to reports, the construction at the venue had stopped, and it remains to be seen what the Aston Plaza--all 2.4 million sq ft of it--will turn into after developments have been shut down.
Government inspectors have been at the site, inspecting it. However, reports haven't been clear on whether the snag was due to inspectors having found unsatisfactory things in the construction at the site. Mone is partnering with billionaire Douglas Barrowman for the project, and they have said that it is the 'first of its kind' in existence.
This real estate project also made the news due in part to Baroness Mone, who was one of the ambitious undertaking's promoters. Mone was a former Tory business 'tsar,' according to The Times UK, and she and Doug Barrowman had been building up the press for the $323 million-worth project ever since September 2017.
The promotion also included vivid descriptions of the Aston Plaza project, which also said that the residential towers would be ready for occupancy in summer. Aside from that, rates for the units were also released, hinting at the state of completion. It was revealed that a two-bedroom flat on the unit could be purchased for $239,498.23.
However, it was said that the units were "25% complete." That was until government inspectors who went to the site got wind of its state of completion. It was also then that they decided to downgrade its status to "on hold," signifying how the unit's completion still had quite some ways to go.
To be clear, Baroness Mone isn't doing this crypto venture for the first time. The former Tory figure had founded a startup recently, known as Equi Capital, which then issued an ERC-20 token on the plans to make investing (in crypto or with real-world money) within reach for most people. Apple's Steve Wozniak was credited with work on the startup in a close-up manner.
