Digital wealth is turning into tangible luxury, as Bitcoin holders gain access to Ras Al Khaimah’s exclusive beachfront homes. In a significant development, RAK Properties has partnered with fintech company Hubpay to accept cryptocurrency payments, positioning itself at the forefront of a global shift in investment.
RAK Properties, the emirate’s leading publicly listed real estate developer, is accepting digital asset payments to help international clients purchase properties using cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH), and Tether (USDT).
The collaboration targets a new wave of digitally-savvy international investors seeking to enter Ras Al Khaimah’s booming real estate market through cryptocurrency transactions. Hubpay’s regulated platform instantly converts digital asset payments into UAE dirhams and settles them directly into RAK Properties’ accounts, ensuring seamless transactions.
A partnership that will be a win-win for all
The partnership expands investment opportunities for RAK Properties’ flagship Mina community, tapping into the growing ecosystem of global cryptocurrency holders looking for prestigious real estate investments. This move diversifies payment options and strengthens RAK Properties’ position as an innovative leader in one of the world’s most dynamic real estate markets.
“Our new partnership with Hubpay advances our strategy of innovation and accessibility as we make investment in Mina and Ras Al Khaimah easier and more attractive to growing international clientele,” said Rahul Jogani, Chief Financial Officer at RAK Properties. “By enabling digital assets, we engage with a new ecosystem of digitally and investment-savvy customers while strengthening RAK Properties’ status as a forward-thinking brand and trusted master developer.”
Kevin Kilty, CEO of Hubpay, emphasized the partnership’s significance for attracting global buyers. “This partnership enables a leading real estate developer to attract a new class of global buyers looking to purchase property with digital assets,” Kilty said. “Our regulated solution provides trust and infrastructure for high-value transactions, ensuring the process remains secure, compliant, and seamless for global clients.”
RAK Properties will not directly handle any digital currencies under the arrangement. Hubpay and its VARA-licensed partners will process all transactions, ensuring full compliance and transparency throughout every deal.
The collaboration aligns with Ras Al Khaimah’s Vision 2030 strategy and supports RAK Properties’ long-term growth aspirations as the company celebrates its 20th anniversary. Construction across the Mina waterfront development continues at an accelerated pace, with more than 800 units scheduled for delivery before year-end.
The integration of cryptocurrency payments demonstrates the waterfront development’s growing appeal to diverse investors from the UAE and international markets, as digital assets become increasingly mainstream in luxury real estate transactions.
