Rak Properties, one of the largest developers listed in water, began to accept cryptocurrency payments for its houses.
Buyers can now adjust transactions using Bitcoin, Ethereum and Tether. The initiative comes from a partnership with Hubpay, a regulated fintech company, which instantly converts digital assets to water dirhams before transferring them to the developer’s account.
The partnership targets global investors
According to business leaders, this decision aims to attract international buyers who are comfortable using digital assets.
Rak Properties is currently developing the community of the Mina Al Arab Sea Front, with more than 800 units that should be delivered by the end of the year.
Rahul Jogani, the firm’s financial director, said the approach is aligned with business efforts to call on “digitally and warned” customers.
One of the masters of the United Arab Emirates, Rak Properties, now allows foreign buyers to make purchases in Ras Al Kahimah using cryptocurrencies.
Rak Properties concluded a partnership with Hubpay, the fintech regulated by ADGM, to allow international customers to buy goods using… pic.twitter.com/wxmfd7jju– Bazaar Times (@bazaartimes) September 1, 2025
Hubpay, authorized under Abu Dhabi Global Market, provides infrastructure to ensure that cryptographic payments are treated in complete safety and that RAK properties avoid the risk of holding volatile tokens in his books.
Market observers have described the configuration as a way to expand options for foreign buyers without exposing the company to additional risks.
Image; RAK Properties
Increased profits
The finance of the company seems to support its growth plans. Reports revealed that Rak Properties recorded a net profit of 160 million AED in the first half of 2025, up approximately 80% compared to the same period of the previous year.
Its capitalization amounts to nearly 4.7 billion AED, or about $ 1.3 billion. Managers attribute the growth of the business both to a solid demand in Ras Al Khaimah and its attempts to increase access to investors.
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Adoption of bitcoin
The adoption of crypto in water real estate is not new. Developers like Damac and Emaar have already introduced Bitcoin payment options, while the Dubai land authority has worked with payment companies to process real estate agreements linked to cryptography.
Rak Properties’ decision adds Ras Al Khaimah to the list of Emirates opening up to practice.
The entry of RAK Properties into Bitcoin transactions is being received within the framework of the objectives of the 2030 vision of RAS Al Khaimah. By expanding the investor basin which can access purchases of properties, managers hope to attract more foreign buyers to the Emirate Housing Market.
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