RAK Properties, a major real estate developer in the United Arab Emirates (UAE) with a market value of around $1.3 billion, has announced it will now accept cryptocurrency payments for its international property sales. Buyers will be able to use Bitcoin (BTC), Ethereum (ETH), Tether (USDT), and other major cryptocurrencies to purchase properties.
To facilitate these transactions, RAK Properties is partnering with the regional fintech company Hubpay. Hubpay will handle the entire payment process, converting the cryptocurrency into UAE dirhams (AED) before the funds are deposited into RAK Properties' accounts.
According to CFO Rahul Jogani, this decision is a strategic move to attract a new generation of "digitally savvy" investors and meet their evolving expectations. RAK Properties, which is one of the largest real estate developers in the UAE, plans to launch 12 new projects in 2025 following a successful year with a 39% increase in net profit in 2024.
This development is another example of the UAE’s growing role as a global hub for digital assets. The country has seen a significant increase in crypto activity, with retail transactions jumping over 75% year-over-year as of mid-2024. As both Dubai and Abu Dhabi continue to build progressive regulatory frameworks, Ras Al Khaimah’s adoption of crypto for real estate adds to the country's fast-evolving digital economy.
September 2025, Cryptoniteuae