Ras Al Khaimah: Overseas buyers can buy property using cryptocurrencies

RAK Properties in deal with Hubpay to offer crypto-based settlements

Last updated: September 01, 2025 | 12:27

Manoj Nair, Business Editor

2 MIN READ

RAK Properties targets a new base of investors by allowing deal settlements using cryptos.

Supplied

Dubai: One of the UAE's master-developers, RAK Properties, now allows overseas buyers to make purchases in Ras Al Kahimah using cryptocurrencies.

RAK Properties has struck a partnership with Hubpay, the ADGM-regulated fintech, to enable international clients to purchase property using cryptos.

This allows the developer to 'attract a new class of global buyers looking to invest in Ras Al Khaimah's booming real estate market'.

Also Read: Why Ras Al Khaimah is the next big thing for property investors in UAE

Clients can pay using major digital assets like Bitcoin, USDT, ETH, and others.

Hubpay's platform 'ensures payments are instantly and seamlessly converted to UAE dirhams and settled directly into RAK Properties' account'.

Also Read: Abu Dhabi's Aldar buys another Ras Al Khaimah resort, with DoubleTree by Hilton

"By diversifying its payment options, RAK Properties is evolving the investment landscape and cementing its position as an innovative leader in one of the world’s most dynamic real estate markets," said a statement.

Ras Al Khaimah's property market is on the up and up, helmed by projects such as the Wynn casino resort, the wider Al Marjan Island, multiple investments by Abu Dhabi's Aldar in the emirate, as well as projects such as a dedicated free zone for digital asset businesses.

Into this scheme of things, offering overseas investors - and there have been many - to pay using cryptocurrencies would make perfect sense.

"We continue to make investment in Mina, and Ras Al Khaimah, easier and more attractive to a growing international clientele," said Rahul Jogani, CFO at RAK Properties.

"By enabling and supporting the use of digital assets, we are engaging with a new ecosystem of digitally and investment savvy customers.”

No direct handling of crypto payments

RAK Properties will not directly handle any digital assets. All payments will be processed through Hubpay and its VARA-licensed partners, thus 'ensuring every transaction is fully compliant and transparent'.

"This partnership is about enabling a leading real estate developer to attract a new class of global buyers looking to purchase property with digital assets," said Kevin Kilty, CEO of Hubpay.

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Manoj NairBusiness Editor

Manoj Nair, the Gulf News Business Editor, is an expert on property and gold in the UAE and wider region, and these days he is also keeping an eye on stocks as well. Manoj cares a lot for luxury brands and what make them tick, as well as keep close watch on whatever changes the retail industry goes through, whether on the grand scale or incremental. He’s been with Gulf News for 30 years, having started as a Business Reporter. When not into financial journalism, Manoj prefers to see as much of 1950s-1980s Bollywood movies. He reckons the combo is as exciting as it gets, though many will vehemently disagree.