RAK Properties Teams Up With Hubpay To Enable Cryptocurrency Payments For Global Real Estate Buyers

RAK Properties, based in Ras Al Khaimah and listed on the public market, has recently teamed up with Hubpay, a top fintech company in the UAE, to introduce a novel way for international clients to invest in property. This allows the use of digital currencies for purchasing real estate, marking a significant shift in the market.

By incorporating digital assets such as USDT, BTC, ETH, and others into their payment options, RAK Properties is opening its doors to a broader range of investors globally. This move is facilitated by Hubpay's ADGM-regulated platform, which guarantees that payments in digital currencies are promptly converted to UAE dirhams and securely transferred to RAK Properties' accounts.

This partnership is a strategic move to enhance RAK Properties' Mina community's investment appeal, drawing attention from a tech-savvy international investor base. The decision to accept digital currencies as payment method is a testament to RAK Properties' commitment to innovation and its aim to redefine the investment landscape in the UAE. This initiative not only broadens the company's payment portfolio but also solidifies its reputation as a pioneer in the dynamic global real estate sector.

Rahul Jogani, chief financial officer of RAK Properties, expressed enthusiasm for this collaboration, highlighting its alignment with the company’s objectives. Jogani 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 digital assets, 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."

Kevin Kilty, CEO of Hubpay, also commented on the collaboration. "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 digital assets. Our regulated solution provides the trust and infrastructure for high-value transactions, ensuring the process is secure, compliant, and seamless for global clients. We're proud to be the payment engine that powers these prestigious transactions for a forward-thinking brand like RAK Properties."

As part of ensuring that the transactions are transparent and adhere to regulations, RAK Properties has made it clear that it will not directly manage any digital assets. Instead, all digital currency transactions will be processed through Hubpay and its partners licensed by VARA. This setup guarantees that the entire process is compliant with regulatory standards, providing peace of mind to both the buyers and the seller.

This strategic alliance also aligns with the broader objectives of Ras Al Khaimah, particularly its Vision 2030 strategy, which aims to foster economic growth and development. As RAK Properties celebrates its 20th anniversary, this partnership is a significant milestone, reflecting the company's long-term vision.

The ongoing construction in the Mina community, with more than 800 units expected to be delivered by the end of the year, indicates the growing appeal of this waterfront development among investors from the UAE and beyond, showcasing the potential impact of integrating digital asset payments in real estate transactions.