UAE city of Ras Al Khaimah’s leading developer is stepping into the digital asset era. RAK Properties, a publicly traded company with a market value of around $1.3 billion, announced it will now accept cryptocurrency for international property sales.
Buyers will be able to settle transactions in Bitcoin, Ethereum, Tether’s USDT, and several other major tokens. Payments will be processed through regional fintech firm Hubpay, which will handle conversions into UAE dirhams before funds are deposited into RAK’s accounts.
CFO Rahul Jogani said the decision reflects the firm’s aim to meet the expectations of a new wave of digitally savvy investors. “We’re opening the door to a modern ecosystem of customers who see value in transacting with digital assets,” he explained.
Expanding Portfolio in 2025
Listed on the Abu Dhabi Securities Exchange since 2005, RAK Properties is one of the UAE’s largest real estate developers. The company posted a net profit of 281 million dirhams in 2024, marking a 39% increase from the previous year, and is planning 12 new projects in 2025 as part of its ongoing growth strategy.
UAE’s Rising Crypto Adoption
The move highlights the UAE’s rapid rise as a global hub for digital assets. Industry leaders expect crypto to become one of the country’s largest economic sectors within the next five years, fueled by regulatory clarity and strong institutional interest.
Recent data from Chainalysis shows that crypto activity in the UAE has surged across transaction sizes, with retail activity climbing more than 75% year-over-year as of mid-2024. With both Dubai and Abu Dhabi already pushing forward progressive frameworks, Ras Al Khaimah’s entrance into crypto-driven real estate adds another layer to the country’s fast-evolving digital economy.
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Source: https://coindoo.com/buy-a-luxury-home-in-the-uae-with-bitcoin-real-estate-now-open-to-crypto-buyers/