RAK Properties Wants You to Buy a Beach Home With Bitcoin-What Could Go Wrong?

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Well, it’s official: you can now trade your magical internet coins for something more substantial than a bored ape JPEG. Yes, RAK Properties, a company presumably staffed by adults, has somehow convinced itself-and partnered with Hubpay-that people actually want to buy real estate in the UAE with crypto. Payments get zapped into UAE dirhams instantly, as if the universe is finally answering the prayers of every Silicon Valley tech bro who’s always wanted a penthouse in Ras Al Khaimah but was held back by a tragic lack of access to wire transfers.

  • RAK Properties teamed up with fintech wizard Hubpay to let people buy homes using crypto (BTC, ETH, USDT, and presumably whatever Elon tweets about next 🚀).
  • Hubpay processes the transactions via VARA-licensed partners, meaning your newly-minted mansion won’t get delivered in a cardboard box. Something something secure, regulatory, blah blah legal comfort.

So here’s the highbrow version: RAK Properties (listed, respectable, still hasn’t hosted a yacht party with Snoop Dogg) now takes crypto for homes. Gulf Business broke the story, so if you’re thinking this is just a fever dream caused by watching too much CNBC, it’s actually happening. You show up with Bitcoin, RAK gets dirhams-like magic, but less fun at parties. Deal processed via Hubpay and men in suits who ensure no one ends up accidentally buying a timeshare in Neptune.

Kevin Kilty, CEO of Hubpay, sums it up thusly: “Our regulated solution ensures high-value transactions are conducted securely and compliantly, providing peace of mind to international clients.” (Translation: We’ve got enough acronyms to wallpaper a Dubai skyscraper, so nobody’s going to jail. Hopefully.🤞)

This foray into cryptodom mainly targets international investors, especially those with a burning desire to own property in RAK’s Mina Al Arab. It’s all part of Ras Al Khaimah’s Vision 2030, which can only mean one thing: lots of glitzy brochures and possibly a mascot shaped like a blockchain. Over 800 units are apparently dropping this year, so if you’ve already lost half your net worth betting against Ethereum, here’s your shot at diversification.🥲

RAK Properties’ CFO Rahul Jogani says, “By enabling the use of digital assets, we are engaging a new ecosystem of investment-savvy, digital-first clients while reinforcing RAK Properties’ position as a trusted and forward-thinking master developer.” Aka: please, cool crypto kids, love us more than you love your Yuga Labs hoodie.

Sneak preview: other UAE developers have already jumped on this train-DAMAC started taking BTC and ETH all the way back in 2022. So, technically, you’re not a pioneer but you can still pretend when you tell your friends at brunch.

Where else can you swap memes for mansions?

Outside the UAE bubble, it’s also legal to buy property with crypto in a few other places that have completely given up on pretending the future isn’t weird: Portugal (EU beaches + loose tax policies-what’s not to love), Turkey (also throws in baklava), and El Salvador (where the official bird might soon be the Bitcoin logo). Laws vary, intermediaries multiply, your mileage may vary, your accountant definitely cries.

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2025-09-02 14:47