Image credit: RAK Properties/Website
RAK Properties, the emirate’s leading publicly listed real estate developer, has announced a strategic partnership with Hubpay, a UAE-based fintech regulated by Abu Dhabi Global Market (ADGM), to enable international property transactions using digital assets.
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The collaboration positions RAK Properties to attract a new wave of international investors interested in purchasing real estate in Ras Al Khaimah using cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH), Tether (USDT), and others. Hubpay’s platform instantly converts digital asset payments into UAE dirhams and settles them directly into RAK Properties’ account, providing a seamless and secure experience.
This move aligns with RAK Properties’ goal of expanding its investment appeal, particularly for its flagship Mina Al Arab community, and supports the emirate’s growing reputation as a forward-thinking destination for real estate investment.
Innovation aligned with Vision 2030
The partnership comes as Ras Al Khaimah pushes forward with its Vision 2030 strategy, aiming to attract international investors and develop world-class infrastructure. RAK Properties’ adoption of digital asset payments reflects this ambition and coincides with the company’s 20th anniversary.
“Our new partnership with Hubpay is another step forward in our strategy of innovation and accessibility,” said Rahul Jogani, CFO at RAK Properties. “By enabling the use of digital assets, we are engaging a new ecosystem of investment-savvy, digital-first clients while reinforcing RAK Properties’ position as a trusted and forward-thinking master developer.”
Regulated and compliant transactions
RAK Properties will not directly handle any digital currencies. Instead, all transactions will be processed through Hubpay and its partners licensed by the Virtual Assets Regulatory Authority (VARA), ensuring compliance and transparency throughout the process.
“This partnership allows a leading real estate developer like RAK Properties to reach a new class of global buyers,” said Kevin Kilty, CEO of Hubpay. “Our regulated solution ensures high-value transactions are conducted securely and compliantly, providing peace of mind to international clients.”
Construction at the Mina Al Arab waterfront development continues at pace, with more than 800 units scheduled for delivery by the end of the year. The integration of digital asset payments is expected to further boost the project’s appeal to a broader range of investors from the UAE and overseas.
