RAK Properties, Ras Al Khaimah’s publicly listed real estate developer, has entered into a partnership with Hubpay, an ADGM-regulated fintech, to enable international clients to purchase property using digital assets.

Under the agreement, buyers can pay with assets such as USDT, Bitcoin, and Ethereum.

Hubpay’s regulated platform converts the payments into UAE dirhams, which are settled directly into RAK Properties’ account.

RAK Properties itself will not handle any digital assets, with all transactions processed through Hubpay and its VARA-licensed partners.

The initiative applies to developments including the Mina community and is aimed at broadening the developer’s reach among digitally active investors.

Rahul Jogani, Chief Financial Officer at RAK Properties, said:

“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, Chief Executive of Hubpay, said:

“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.”

The partnership supports Ras Al Khaimah’s Vision 2030 strategy.

RAK Properties is marking its 20th anniversary this year, with more than 800 units at Mina scheduled for delivery before year-end.

Featured image credit: RAK Properties