RAK Properties Embraces Digital Currency Revolution in UAE Real Estate
The UAE real estate sector continues to break new ground with cryptocurrency adoption. RAK Properties, one of the largest publicly traded real estate companies in the Ras Al Khaimah emirate of the United Arab Emirates (UAE), will start accepting cryptocurrency for international property transactions. This groundbreaking decision marks a pivotal moment for digital asset integration in traditional property markets.
Bitcoin and USDT Transform Property Purchases in Ras Al Khaimah
RAK Properties will begin accepting payments in Bitcoin (BTC), Ether (ETH), and Tether’s USDt (USDT), among others. The company partnered with Hubpay, a regional global payments platform, to facilitate seamless cryptocurrency transactions. Hubpay converts digital assets into UAE dirhams before depositing funds into RAK’s accounts, ensuring regulatory compliance and operational efficiency.
This strategic move addresses the growing demand from international investors seeking alternative payment methods. “By enabling and supporting digital assets, we are engaging with a new ecosystem of digitally and investment-savvy customers,” said RAK Properties chief financial officer Rahul Jogani. The initiative specifically targets international buyers who prefer conducting transactions through digital currencies.
UAE Real Estate Market Shows Strong Financial Performance
RAK Properties, listed on the Abu Dhabi Securities Exchange since 2005, has a market capitalization of 4.7 billion dirhams ($1.3 billion), according to TradingView. The company demonstrates robust financial health with impressive growth metrics. Its net profit rose 39% year-over-year, climbing to 281 million dirhams in 2024 from 202 million dirhams the year before.
The developer plans a significant expansion in 2025 with 12 new projects in development. RAK Properties recorded revenue of Dh774.79 million in the first half of 2025, with net profit soaring by 80 percent to Dh160.6 million, compared to Dh89.06 million in the first half of last year. These strong financials provide a solid foundation for innovative payment solutions.
Cryptocurrency Adoption Accelerates Across UAE Markets
The UAE has established itself as a progressive cryptocurrency hub, attracting Web3 businesses and digital asset investors. Small retail transactions jumped by over 75% year-over-year as of June 2024, according to Chainalysis data, showing the country’s expanding blockchain adoption. This growth trajectory positions the nation as a leader in digital asset integration.
Chase Ergen, a board member at DeFi Technologies, forecasted that crypto could become the UAE’s second-largest sector within five years. The prediction reflects the emirate’s commitment to digital transformation and adoption of blockchain technology. Government support through regulatory frameworks has created an environment conducive to cryptocurrency business development.
USDT and Bitcoin Integration Creates New Investment Opportunities
Accepting USDT, Bitcoin, and Ethereum opens new pathways for international property investment. Stablecoins like USDT provide price stability, while Bitcoin and Ethereum offer diversified cryptocurrency exposure. As part of the new initiative, the company will also accept Tether (USDT), a stablecoin pegged to the US dollar.
This multi-cryptocurrency approach caters to different investor preferences and risk profiles. International buyers can now leverage their digital asset portfolios for real estate acquisitions without traditional banking constraints. The system eliminates currency conversion complexities and reduces transaction processing times.
Regulatory Framework Supports Digital Asset Real Estate Transactions
The UAE’s comprehensive regulatory environment enables secure cryptocurrency property transactions. Virtual Asset Regulatory Authority (VARA) licensing ensures compliance and consumer protection. VARA’s licensing system ensures proper oversight while fostering innovation in the digital asset space.
These regulatory measures have already produced positive results. RAK Properties reported a 39% year-over-year increase in net profit in 2024, reaching 281 million dirhams, while Chainalysis noted a 75% surge in retail crypto transactions in the UAE during the same period.
Conclusion
RAK Properties’ cryptocurrency adoption represents a significant milestone in UAE real estate digital transformation. Integrating Bitcoin, USDT, and Ethereum payments positions the company at the forefront of property market innovation. This strategic initiative aligns with the UAE’s vision of becoming a global digital asset hub while providing international investors with flexible payment solutions.
