RAK Properties profit up 44% as sales swell

• Developer posts results for last year
• Sales grew 142% on the year before
• 2026 is ‘key year for RAK’, company says

RAK Properties said sales more than doubled last year and it expects demand for luxury and branded residences to remain strong this year. 

Total sales at the state-backed real estate developer grew 142 percent year on year to AED3.4 billion ($925.8 million), with more than AED5.4 billion in projects launched in 2025, exceeding its AED5 billion target.

The company is set to deliver nearly 2,000 units by the end of 2026, according to a statement to the Abu Dhabi Securities Exchange on Friday.

Net profit rose 44 percent year on year to AED404.3 million, supported by a 31 percent annual increase in revenue to AED1.8 billion. 

“2026 will be a key year for Ras Al Khaimah as the emirate solidifies its position as the UAE’s Mice destination,” the statement said. Mice are meetings, incentives, conferences and exhibitions.

RAK Properties plans to drive growth through its Mina master plan, with new communities to be launched this year. Work is also set to start on Armani Beach Residences, Nikki Beach and Four Seasons Private Residences.

Mina will have 18km of waterfront and comprise three districts, Raha Island, Hayat Island and Lagoons, which will feature a mix of villas, branded residences and hospitality sites.

RAK Properties said total assets grew to AED8.7 billion, reflecting strong investor confidence and business expansion. Development backlog – an indicator of future cash flows – increased to AED3.5 billion.

Further reading:

• RAK Properties sets vision for Ras Al Khaimah development
• Wynn sets aside land for second UAE casino resort
• RAK Properties banks on new launches to spur 2025 growth

In November 2024 Stirling Hospitality Advisors forecast that branded residences would account for 40 percent of the total residential units in Ras Al Khaimah by 2029.

The developer is 34.17 percent owned by the government of Ras Al Khaimah.

The company’s stock, which trades on ADX, closed 0.8 percent lower at AED1.31 on Thursday. It is down nearly 3 percent so far this year.

The announcement of the Wynn resort and casino in 2022 to open next year led to a groundswell of activity in the emirate. Plots on Al Marjan Island were snapped up, hotel development has soared and land prices have followed suit.

Ras Al Khaimah, one of the seven emirates that make up the UAE and with a population of 400,000, received $10.6 billion in greenfield foreign direct investment across 17 projects in 2025, ranking it sixth globally in capital inflows, according to a report by Emirates NBD.