In an exciting development within the real estate sector of the UAE, RAK Properties has announced that it will begin accepting cryptocurrency payments for property purchases. This move marks a significant step in the integration of digital currencies into traditional markets.
Buyers will now have the flexibility to complete transactions using well-known cryptocurrencies like Bitcoin, Ethereum, and Tether. This innovative decision stems from a strategic partnership with Hubpay, a regulated fintech company that facilitates instant conversion of digital currencies into UAE dirhams.
Attracting a Global Clientele
This initiative is primarily tailored to attract a broader range of international investors who are increasingly comfortable with cryptocurrency transactions. By embracing these digital assets, RAK Properties hopes to draw in savvy investors looking for modern and flexible purchasing options.
The company is currently engaged in developing the Mina Al Arab waterfront community, which promises to deliver over 800 residential units by the close of the year, further enhancing its appeal to overseas buyers.
According to Rahul Jogani, RAK Properties’ CFO, this forward-thinking approach is an effort to meet the needs of clients who are not only digitally savvy but also keen on making investment choices that align with contemporary trends.
RAK Properties has made a pioneering step by allowing overseas buyers to purchase property in Ras Al Khaimah using cryptocurrencies. They have partnered with Hubpay, a regulated fintech, to enable…
— Financial Insights (@fininsights) September 1, 2025
Hubpay, regulated by the Abu Dhabi Global Market, offers the necessary infrastructure to manage crypto transactions securely. This ensures that RAK Properties is not exposed to the unpredictable fluctuations of cryptocurrency values.
Industry experts view this collaboration as a beneficial measure to expand the options available to foreign buyers while minimizing potential risks for the developers involved.
Strong Financial Performance
RAK Properties’ financial outcomes reflect robust growth plans, with recent reports indicating a net profit of AED 160 million for the first half of 2025—an impressive 80% increase compared to the previous year.
With a market capitalization nearing AED 4.7 billion (around $1.3 billion), executives believe the company’s success is attributed to sustained demand for properties in Ras Al Khaimah, alongside efforts to broaden investor engagement.
Rising Trend of Bitcoin Usage
The embrace of cryptocurrencies in UAE real estate is gaining traction. Various developers, including DAMAC and Emaar, have already introduced options for Bitcoin payments, while Dubai’s land authority collaborates with fintech companies to facilitate crypto-related property transactions.
RAK Properties’ initiative marks a pivotal addition to the growing list of emirates welcoming this innovative financial practice.
Furthermore, the integration of cryptocurrency transactions aligns with Ras Al Khaimah’s Vision 2030 strategy. By expanding investment avenues, officials aim to attract a wider influx of overseas buyers, fostering growth within the local housing market.
Illustration from Meta, chart sourced from TradingView
