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RAK Properties, one of the UAE’s largest listed developers, has begun accepting cryptocurrency payments for its homes.
Buyers can now settle transactions using Bitcoin, Ethereum, and Tether. The initiative comes through a partnership with Hubpay, a regulated fintech company, which instantly converts digital assets into UAE dirhams before transferring them to the developer’s account.
According to company executives, the move is aimed at attracting international buyers who are comfortable using digital assets.
RAK Properties is currently developing the Mina Al Arab waterfront community, with more than 800 units expected to be delivered by the end of the year.
Rahul Jogani, the firm’s chief financial officer, said the approach aligns with the company’s effort to appeal to “digitally and investment savvy” clients.
Hubpay, licensed under Abu Dhabi Global Market, provides the infrastructure to ensure crypto payments are processed securely and that RAK Properties avoids the risk of holding volatile tokens on its books.
Market watchers have described the setup as a way to expand options for foreign buyers without exposing the company to added risk.
The financials of the company seem to back its growth plans. Reports have revealed that RAK Properties recorded a net profit of AED 160 million during the first half of 2025, up by around 80% from the same period in the previous year.
Its capitalization stands at nearly AED 4.7 billion, or about $1.3 billion. Executives attribute the company’s growth to both robust demand in Ras Al Khaimah and its attempts to increase investor access.
Crypto adoption in UAE real estate is not new. Developers like DAMAC and Emaar have already introduced Bitcoin payment options, while Dubai’s land authority has worked with payment firms to process crypto-linked property deals.
RAK Properties’ decision adds Ras Al Khaimah to the list of emirates opening up to the practice.
RAK Properties’ entry into bitcoin transactions is being framed as part of Ras Al Khaimah’s Vision 2030 goals. By widening the pool of investors who can access property purchases, officials hope to draw more overseas buyers into the emirate’s housing market.
