Purchase a Luxury Property in the UAE Using Bitcoin – Real Estate Now Accessible to Cryptocurrency Buyers

RAK Properties Embraces Cryptocurrency Transactions

• Payment Options: Buyers can now settle transactions using Bitcoin, Ethereum, Tether’s USDT, and other major cryptocurrencies. Payments will be processed by Hubpay, a regional fintech firm, which will convert these digital currencies into UAE dirhams before depositing them into RAK Properties' accounts.
• Strategic Decision: CFO Rahul Jogani emphasized that this initiative aims to cater to a new generation of digitally savvy investors, indicating a shift towards a modern ecosystem that values digital asset transactions.

Financial Performance and Future Plans

• Profit Growth: RAK Properties reported a net profit of 281 million dirhams for 2024, reflecting a significant 39% increase compared to the previous year.
• Expansion Plans: The company is set to launch 12 new projects in 2025 as part of its growth strategy, indicating a robust outlook for future development.

UAE's Crypto Landscape

• Rising Adoption: The UAE is rapidly emerging as a global hub for digital assets, with industry leaders predicting that cryptocurrency could become one of the largest economic sectors in the country within the next five years. This growth is supported by regulatory clarity and strong institutional interest.
• Transaction Surge: Recent data from Chainalysis reveals that crypto activity in the UAE has increased significantly, with retail transactions rising over 75% year-over-year as of mid-2024. The progressive frameworks in Dubai and Abu Dhabi, along with Ras Al Khaimah's entry into crypto-driven real estate, contribute to the evolving digital economy in the region.