RAK Properties Embraces Cryptocurrency for Real Estate Transactions
In a groundbreaking move within the UAE’s real estate sector, RAK Properties, one of the region’s largest publicly listed developers, has started accepting cryptocurrency as a form of payment for purchasing homes. This innovative approach marks a significant step forward in integrating digital currencies with real estate investments.
Seamless Crypto Transactions with Hubpay Partnership
To facilitate these transactions, RAK Properties has partnered with Hubpay, a licensed and regulated fintech company. Hubpay ensures that digital assets such as Bitcoin, Ethereum, and Tether are instantly converted into UAE dirhams, providing a seamless transaction process for buyers and ensuring security for the developer.
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Attracting a Global Audience of Digital Investors
This strategic initiative aims to attract international investors who are well-versed in using digital currencies. Currently, RAK Properties is focused on developing the Mina Al Arab waterfront community, with plans to deliver over 800 units by the year’s end. According to Rahul Jogani, the company’s Chief Financial Officer, this move aligns with their efforts to appeal to a “digitally and investment-savvy” clientele.
Secure Crypto Payments with Hubpay
Hubpay, operating under the regulatory frameworks of the Abu Dhabi Global Market, provides the necessary infrastructure to ensure that cryptocurrency payments are processed securely. This ensures that RAK Properties does not bear the risk associated with holding volatile digital assets.
Expanding Investment Opportunities
Market analysts point out that this development opens up new avenues for foreign buyers while minimizing financial risks for the company. The approach not only diversifies payment options but also aligns with the growing trend of cryptocurrency usage in real estate across the UAE.
Financial Growth and Future Prospects
RAK Properties’ financial records highlight its upward trajectory, with a reported net profit of AED 160 million in the first half of 2025, marking an impressive 80% increase from the same period the previous year. The company’s market capitalization stands at approximately AED 4.7 billion, equivalent to $1.3 billion. Company executives attribute this success to robust demand in Ras Al Khaimah and their proactive strategies to enhance investor accessibility.
The Rise of Bitcoin in UAE Real Estate
The adoption of Bitcoin and other cryptocurrencies in the UAE’s real estate market is not a novel concept. Prominent developers like DAMAC and Emaar have already paved the way by accepting Bitcoin payments. Additionally, Dubai’s land authority has collaborated with payment firms to facilitate crypto-linked property transactions. RAK Properties’ decision to embrace digital currencies further strengthens Ras Al Khaimah’s position within this emerging trend.
Aligning with Ras Al Khaimah’s Vision 2030
RAK Properties’ entry into the realm of cryptocurrency transactions aligns with Ras Al Khaimah’s Vision 2030 goals. By expanding the pool of potential investors who can engage in property acquisitions, the emirate aims to attract a wider range of overseas buyers, thereby boosting its housing market.
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