Real estate developers across the UAE have full blown entered the crypto era in terms of payments working with different VASPs, the latest is RAK Properties, Ras Al Khaimah’s real estate developer and UAE regulated HubPay, whose partnerships has opened up the purchase of property on its Mina beachfront using crypto.

As per the press release, international investors who are seeking to enter Ras El Khaimah’s real estate market can do so using USDT, BTC, ETH and more. Hubpay’s regulated platform ensures payments are instantly and seamlessly converted to UAE dirhams and settled directly into RAK Properties’ account.

Rahul Jogani, Chief Financial Officer at RAK Properties, said, that the partnership with Hubpay was a step forward in their strategy of innovation and accessibility. He noted, “As we continue to make investment in Mina, and Ras Al Khaimah, we are making it 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, added, “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 the new partnership, RAK Properties will not directly handle any digital assets. All payments will be processed through Hubpay and its VARA-licensed partners, ensuring every transaction is fully compliant and transparent.

Earlier this year, Dubai Land Department, VARA through PRYPCO opened up the fractional ownership of real estate to foreign investors using tokenization and will soon allow for crypto payments.

Already other real estate developers are working with VASPs regulated in the UAE to allow for crypto payments.