RAK Properties, Ras Al Khaimah’s leading publicly listed property developer, has announced its financial results for the first quarter of 2025. The results mark a strong start to a milestone year in which the company celebrates two decades of growth, underpinned by delivery, discipline and destination-making.
The quarter was characterised by strong sales, expansion of the development pipeline, and continued investor confidence across key launches. As Ras Al Khaimah accelerates its trajectory as a global investment hub, RAK Properties is demonstrating its role as a performance-led developer with a long-term strategic outlook.
RAK Properties reported revenue of AED 370m in Q1 2025, reflecting an increase of 28% compared to the same period in 2024. The growth was primarily driven by continued on-site development progress across multiple residential projects and strong uptake across new launches.
Profit before tax rose to AED 74m, up 64% year-on-year, while EBITDA increased to AED 107m – underscoring improved margins and operational leverage.
The company maintained a solid financial position, with total assets reaching AED 8.15bn and equity rising to AED 5.59bn. As of 31 March 2025, the development backlog stood at AED 2.33bn, offering strong visibility into future revenues.
Sales volumes remained healthy, with 503 units sold in Q1 valued at AED 839m – marking more units sold than any other quarter and reflecting sustained demand across both end-user and investor segments.
“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.
“This quarter reflects our growth maturity – delivering scale, attracting global partners, and supporting the Emirate’s broader economic ambitions. We will continue to move forward with a disciplined strategy that prioritises value creation, delivery excellence, and long-term investor trust.”
Abdulaziz Abdullah Al Zaabi, Chairman, RAK Properties
Construction continues on over 3,000 units across active developments, with more than 800 handovers scheduled in 2025. Flagship projects, such as Bay Residences, Granada II, Cape Hayat, and the now-completed Gateway 2, are progressing steadily.
Projects including Bay Views, Edge, and Quattro Del Mar are also advancing through key construction phases, with major contracts awarded and site works underway.
“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.
“This performance reflects not only our delivery momentum but also a notable strengthening of our financial fundamentals – with improved margins and disciplined cost management positioning us for sustained growth.
“In Q1, we activated key phases of the Mina masterplan, deepened our pipeline with high-performing hospitality and residential launches, and scaled our team to meet rising operational demands. We are focused on delivery, differentiation and unlocking long-term growth. This performance is only the start of what we intend to achieve this year.”
Sameh Muhtadi, CEO, RAK Properties
