In a strategic move to broaden global investor access and embrace financial innovation, RAK Properties has teamed up with fintech firm Hubpay to allow international buyers to purchase real estate in Ras Al Khaimah using cryptocurrencies. The initiative targets a digitally-savvy investor class and supports the emirate’s Vision 2030 economic strategy.
New payment options: Cryptocurrency now accepted for mina properties
RAK Properties, the publicly listed master developer behind several high-profile communities in Ras Al Khaimah, has announced a first-of-its-kind partnership with Hubpay, a regulated fintech company licensed by the Abu Dhabi Global Market (ADGM). The partnership enables property buyers to make payments using major cryptocurrencies such as:
- USDT (Tether)
- BTC (Bitcoin)
- ETH (Ethereum)
- Other supported cryptocurrencies
Through Hubpay’s fully regulated platform, these payments are instantly converted into UAE dirhams (AED) and settled directly into RAK Properties’ accounts, ensuring a smooth and compliant transaction experience.Notably, RAK Properties will not directly handle or store any cryptocurrency. All cryptocurrency-related transactions will be processed through Hubpay and its VARA-licensed partners, guaranteeing full transparency and regulatory compliance.
Targeting global investors: Expanding access to mina beachfront community
The partnership is designed to appeal to international investors who are familiar with or prefer using cryptocurrency for large-value purchases. It also strengthens RAK Properties’ reach into a new segment of the market that values speed, decentralization, and digital financial tools.This strategic move enhances investor access to RAK Properties’ flagship Mina waterfront community, a premium real estate development that is gaining popularity both locally and internationally. With construction progressing rapidly, over 800 units are on track for delivery by year-end, highlighting Mina’s growing appeal.By enabling cryptocurrency payments, the developer is expanding the community’s investment appeal and accessibility, aligning with modern buyer preferences and global trends in property purchasing.
Strategic alignment with vision 2030 and 20 year milestone
The new payment offering supports Ras Al Khaimah’s Vision 2030, a government-led roadmap focused on economic diversification and innovation. RAK Properties contributes to this vision by creating real estate projects that generate economic, social, and environmental value across the emirate.The announcement also comes as RAK Properties marks its 20th anniversary, underlining the company’s ongoing efforts to innovate and evolve with market dynamics.Rahul Jogani, Chief Financial Officer at RAK Properties, stated:“Our new partnership with Hubpay is another step forward with our strategy of innovation and accessibility as we continue to make investment in Mina, and Ras Al Khaimah, easier and more attractive to a growing international clientele. By enabling and supporting the use of cryptocurrencies, we are engaging with a new ecosystem of digitally and investment savvy customers while at the same time strengthening RAK Properties’ status as a forward-thinking brand as well as a trusted master developer.”
About the partners: RAK Properties and Hubpay
RAK Properties: Established in 2005 under the leadership of His Highness Sheikh Saud Bin Saqr Al Qasimi, Ruler of Ras Al Khaimah, RAK Properties is a premier real estate developer known for building sustainable, lifestyle-oriented communities. The company blends architectural excellence with environmental sensitivity, aiming to improve both lives and places across the emirate. It plays a key role in the realization of RAK’s Vision 2030 through responsible development and innovation.Hubpay: Hubpay is a UAE-based, ADGM-regulated fintech specializing in payment infrastructure for the real estate sector. Its offerings include:
- The UAE’s first regulated crypto-to-fiat payment gateway
- Dedicated AED IBAN accounts for international clients
- Integrated escrow and manager’s cheque services
- Seamless API integrations with real estate websites, CRMs, and accounting platforms
Hubpay was recently recognized as one of the Future100 companies, a government initiative highlighting high-potential UAE startups contributing to the country’s future economy.Kevin Kilty, CEO of Hubpay, added:“This partnership is about enabling a leading real estate developer, RAK Properties, to attract a new class of global buyers looking to purchase property with cryptocurrencies. Our regulated solution provides the trust and infrastructure for high-value transactions, ensuring the process is secure, compliant, and seamless for global clients.”
