Ras Al Khaimah real estate is witnessing a significant transformation, driven by the impressive performance of RAK Properties, which has announced remarkable first-half results for 2025. Their success showcases the robust potential of the region’s property market, fueled by strong sales and ongoing project developments, particularly at the Mina site. As RAK Properties celebrates two decades of excellence, these results reflect both the company’s strategic vision and Ras Al Khaimah’s growth trajectory.
In the first half of 2025, RAK Properties reported outstanding financial results, bolstered by a surge in sales, new project launches, and advancements in its Mina development. Revenue skyrocketed by 27 percent, reaching AED 774.79 million. Moreover, net profit soared 80 percent, climbing to AED 160.60 million, compared to AED 89.06 million for the same period in 2024. The sales value more than doubled, increasing by an impressive 101 percent to AED 1,411 million from AED 703 million last year.
Strong Financial Growth
The company’s sales backlog demonstrated significant growth as well, expanding 42 percent year-on-year to AED 2,624 million, highlighting a clear pathway for future cash flow. Additionally, operating profit surged 47 percent to AED 204.15 million, while EBITDA showed a robust increase of 42 percent, reaching AED 239.25 million. RAK Properties’ total assets grew by 3.5 percent, amounting to AED 8,290 million, and the capital and reserves increased by 3 percent to AED 5,701 million. The company’s share price also gained traction, rising 26.3 percent year-to-date to AED 1.44, with a market capitalization of AED 4,320 million.
Commenting on the impressive figures, Chairman Abdulaziz Abdullah Al Zaabi said, “RAK Properties’ robust H1 results are a testament to the remarkable growth and strategic vision that is driving both the company and Ras Al Khaimah as a whole. As RAK Properties celebrates its 20th year, these impressive figures underscore a consistent plan that is yielding tangible success – a plan closely aligned with the visionary leadership of His Highness Sheikh Saud bin Saqr Al Qasimi.”
Mina Development at the Forefront
Al Zaabi highlighted the Mina development as central to RAK’s real estate and tourism growth. Already home to world-class resorts, the area is set to welcome more branded hotels and residential options. Chief Executive Officer Sameh Muhtadi emphasized the significance of their H1 results, noting, “We continue to see our success shaped by a steady stream of assets coming online, rising sales figures, and international interest in RAK as a place to live, invest, and thrive.”
Throughout this period, RAK Properties has made progress on delivering over 800 units at the Mina development, with many set to be completed by year-end. Projects currently under construction include Bay Residences, Granada II, Cape Hayat, Bay Views, Edge, and Quattro Del Mar.
Furthermore, the company has recently launched several new projects, notably the Anantara Mina Ras Al Khaimah Residences, the ENTA residential concept in collaboration with HIVE, and Solera on Raha Island, which will introduce 451 units to the Downtown Mina district.
In a move towards luxury offerings, RAK Properties is collaborating with high-profile partners to develop the Armani Beach Residences Ras Al Khaimah. This project will feature the world’s first Armani-branded villas, comprising 41 villas and 32 apartments, designed by the renowned hospitality architecture firm Denniston.