Ras Al Khaimah‘s real estate sector has recently experienced impressive momentum, as demonstrated by RAK Properties’ remarkable financial performance in the first quarter. Reporting revenues of $101 million, RAK Properties is not only exceeding expectations but also showcasing record sales that indicate strong market demand. This trend highlights the ongoing strengths of the Ras Al Khaimah real estate sector, as investors continue to express confidence in new developments and residential projects.
The growth was primarily driven by continued on-site development progress across multiple residential projects and a strong uptake of new launches.
The results mark a strong start to a milestone year, characterized by impressive sales figures, an expanded development pipeline, and steady investor confidence throughout key launches.
Achievements of RAK Properties in Q1
Profit before tax soared to AED 74 million ($20.1 million), marking a significant 64 percent increase year-on-year. Meanwhile, earnings before interest, taxes, depreciation, and amortization (EBITDA) climbed to AED 107 million ($29.1 million), underscoring improved margins and operational efficiency.
The company maintained a robust financial position, with total assets reaching AED 8.15 billion ($2.2 billion) and equity increasing to AED 5.59 billion ($1.5 billion). As of March 31, 2025, the development backlog stood at AED 2.33 billion ($634 million), providing strong visibility into future revenues in Ras Al Khaimah’s real estate market.
Sales during the quarter remained healthy, with 503 units sold valued at AED 839 million ($228.4 million). This marked the highest number of units sold in any quarter, reflecting sustained demand from both end-users and investors.
Leadership Insights on Growth
Abdulaziz Abdullah Al Zaabi, Chairman of RAK Properties, emphasized the company’s momentum by stating, “RAK Properties continues to deliver at a pace that reflects the strength of its vision and the depth of its operational readiness. As we mark 20 years since our establishment, we do so, not with nostalgia, but with clarity of purpose — building communities that contribute to Ras Al Khaimah’s transformation into a globally competitive destination for investment, tourism, and quality living.”
Al Zaabi highlighted that this quarter signifies the company’s growth maturity, attracting global partners and supporting broader economic ambitions. He added, “We will continue to move forward with a disciplined strategy that prioritizes value creation, delivery excellence, and long-term investor trust.”
Sameh Muhtadi, CEO of RAK Properties, noted that “2025 is shaping up to be a transformational year. With more than 800 handovers planned and over 3,000 units currently under construction, we are delivering across multiple fronts while maintaining strong financial discipline.”
Continued Developments and Future Launches
As construction progresses on more than 3,000 active units, over 800 handovers are scheduled for 2025. Flagship projects such as Bay Residences, Granada II, Cape Hayat, and the now-completed Gateway 2 are advancing steadily. Additional projects, including Bay Views, Edge, and Quattro Del Mar, are also making progress through key construction phases.
RAK Properties is advancing the transformation of the Mina masterplan into a fully integrated lifestyle destination. Backed by a substantial AED 5 billion ($1.4 billion) development pipeline, Mina is set to evolve as a strategic pillar of Ras Al Khaimah’s tourism and investment vision, blending residential, retail, hospitality, and waterfront infrastructure.
A landmark agreement was recently signed with Four Seasons to develop a luxury resort and branded residences, marking the brand’s first presence in the Emirate. This partnership, along with others such as Nikki Beach’s launch of Nikki Beach Resort and Spa at Mina, reflects the company’s focus on driving the luxury segment within its portfolio.
Looking Ahead with New Product Launches
As Q2 unfolds, RAK Properties has introduced its luxury branded Anantara Mina Ras Al Khaimah Residences product. This collection features 19 villas and 84 apartments on the scenic Hayat Island waterfront, complete with five-star resort amenities. Sales commenced on April 28, further bolstering the Ras Al Khaimah real estate offering.
Following this, the company launched ENTA, a new residential concept on Hayat Island consisting of 119 furnished apartments designed to include a concept store, co-working space, library, and residents’ lounge. Sales began on May 5, showcasing strong fundamentals and an expanding portfolio.
With its ongoing strategic initiatives and partnerships, RAK Properties is well-positioned to deliver long-term value for shareholders while further enriching the Ras Al Khaimah real estate market.