RAK Properties Pioneers Bitcoin, Ether, and Tether Payments for International Real Estate in UAE

RAK Properties will accept crypto for property purchases, facilitated by Hubpay, due to UAE’s crypto-friendly policies.
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Executive Summary

  • RAK Properties announced it will accept major cryptocurrencies, including Bitcoin, Ether, and Tether’s USDt, for international property transactions.
  • Payments will be processed through Hubpay, which converts digital assets into UAE’s local fiat currency, aiming to engage a new ecosystem of digitally and investment-savvy customers.
  • This decision underscores the UAE’s burgeoning role as a global hub for digital assets, supported by its clear regulatory frameworks and absence of taxes on crypto profits.
  • The Story So Far

  • The UAE has established itself as a global hub for digital assets due to its clear regulatory frameworks and absence of taxes on crypto profits, fostering a supportive environment that encourages widespread adoption. This context explains why a major developer like RAK Properties is now integrating cryptocurrency payments, aiming to engage with a growing segment of digitally and investment-savvy international customers.
  • Why This Matters

  • RAK Properties’ adoption of cryptocurrencies for property transactions marks a strategic move to tap into a new global segment of digitally savvy investors, potentially expanding their international buyer base and sales. This initiative further solidifies the UAE’s position as a leading global hub for digital asset innovation and investment, reinforcing the mainstream integration of cryptocurrencies within its real estate sector, driven by its clear regulatory frameworks and zero-tax policy.
  • Who Thinks What?

  • RAK Properties believes that accepting major cryptocurrencies for property transactions will allow them to engage with a new ecosystem of digitally and investment-savvy customers.
  • The UAE, through its clear regulatory frameworks and absence of taxes on crypto profits, aims to establish itself as a global hub for digital assets and foster the growth of the cryptocurrency industry.
  • RAK Properties, a prominent publicly traded real estate developer based in the Ras Al Khaimah emirate of the United Arab Emirates (UAE), announced it would begin accepting major cryptocurrencies, including Bitcoin, Ether, and Tether’s USDt, for international property transactions. This move, announced on Monday, highlights the UAE’s burgeoning role as a global hub for digital assets, driven by its clear regulatory frameworks and absence of taxes on crypto profits.

    Cryptocurrency Payment Integration

    The company specified that payments would be processed through Hubpay, a regional global payments platform. Hubpay will facilitate the conversion of digital assets into the UAE’s local fiat currency before depositing the funds into RAK Properties’ accounts, streamlining the transaction process for international buyers.

    Rahul Jogani, Chief Financial Officer of RAK Properties, commented on the strategic decision, stating, “By enabling and supporting the use of digital assets, we are engaging with a new ecosystem of digitally and investment savvy customers.” This initiative aims to tap into a growing segment of the market increasingly interested in digital asset transactions.

    UAE’s Crypto-Friendly Environment

    The UAE has rapidly emerged as a favored destination for the cryptocurrency industry, largely due to its proactive approach to regulation and its zero-tax policy on crypto profits. This supportive environment has fostered significant interest and adoption of digital assets across various sectors, with the crypto industry projected to become one of the country’s largest in the coming years.

    RAK Properties Overview

    RAK Properties, listed on the Abu Dhabi Securities Exchange since 2005, holds a market capitalization of approximately 4.7 billion dirhams ($1.3 billion). The developer reported a substantial 39% year-over-year increase in net profit, reaching 281 million dirhams in 2024, up from 202 million dirhams the previous year.

    Ras Al Khaimah, the UAE’s fourth-largest emirate by area with a population of about 400,000, serves as the operational base for RAK Properties. The company plans to expand its portfolio with 12 new projects slated for 2025, although the total size of its expanded portfolio remains undisclosed.

    RAK Properties’ decision to integrate cryptocurrency payments underscores the accelerating mainstream adoption of digital assets within the UAE’s real estate sector. This development further solidifies the nation’s position as a leading jurisdiction for crypto innovation and investment.

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