Prime Highlights
- RAK Properties now allows international investors to buy property in Ras Al Khaimah using cryptocurrency through its partnership with Hubpay.
- The move positions RAK Properties as a forward-thinking developer, attracting digitally-savvy global buyers.
Key Facts
- RAK Properties recorded revenue of Dh774.79 million in the first half of 2025, with net profit rising 80% to Dh160.6 million.
- Over 800 residential units in Mina are scheduled for delivery by the end of the year, supporting rapid development in Ras Al Khaimah.
Key Background:
Ras Al Khaimah is making it easier for international investors to buy property by accepting cryptocurrency. RAK Properties announced on Monday that it has teamed up with Hubpay to allow property transactions using digital currencies.
Under this system, payments from international buyers are instantly converted into UAE dirhams and sent straight to RAK Properties’ account. RAK Properties will not handle any cryptocurrency itself; all transactions are managed by Hubpay to ensure smooth and secure payments.
Cryptocurrency use is growing in the UAE. In Dubai, property developers like Damac Properties already accept Bitcoin and Ethereum, making it easier for international buyers. In July, the Dubai Land Department partnered with Crypto.com to let people buy and sell properties using cryptocurrencies.
Rahul Jogani, Chief Financial Officer at RAK Properties, emphasized that the partnership is aimed at making investment in Mina and Ras Al Khaimah more attractive to international clients. He said that accepting digital currencies allows RAK Properties to connect with tech-savvy and investment-minded clients while building its reputation as a modern and reliable developer.
Building work in Mina is progressing quickly, with more than 800 units expected to be completed by year-end. Kevin Kilty, CEO of Hubpay, said the partnership will bring in a new group of international buyers interested in using digital currencies to invest in property.
RAK Properties is showing strong growth. In the first half of 2025, the company earned Dh774.79 million in revenue, and its net profit jumped 80 percent to Dh160.6 million, up from Dh89.06 million last year.
By accepting cryptocurrency, Ras Al Khaimah is becoming an attractive option for international property investors, offering modern payment options while continuing to deliver quality residential projects.
