Blackstone-Backed Redpin Receives DFSA Approval for UAE Expansion
The property payments platform is preparing to serve real estate developers in the UAE.
Global property payments platform Redpin has received in-principle approval from the Dubai Financial Services Authority, allowing the Blackstone-backed company to move closer to offering its services to the UAE's real estate developer ecosystem.
The approval supports the rollout of the Redpin Platform, a payment infrastructure designed to digitise property transactions that are traditionally handled through manual processes.
According to the company, the platform provides end-to-end transaction capabilities for developers and their clients, helping reduce the time and resources required to reconcile international currencies. Consumers are also expected to benefit from lower foreign exchange costs and enhanced transaction security.
The expansion comes as the Dubai Land Department targets a 70% increase in real estate transaction volumes by 2033. Global investors have continued to show interest in the market, with firms including Goldman Sachs and Blackstone increasing their presence in the region.
Real estate transactions in Dubai reached AED 68.56 billion in April 2026, up more than 20% month on month, before moderating to AED 40.63 billion across 12,879 transactions in May. Off-plan developments, which make up a significant share of activity, are among Redpin's key target markets.
The company said the payments infrastructure underlying its platform has processed more than USD 138 billion in lifetime transaction volume.
