RAK Properties posted an 80% rise in net profit for the first half of 2025, driven by strong sales at its flagship Mina Al Arab development and continued growth across residential and hospitality projects.
Strong financial results
The company reported a net profit of Dhs160.6 million, up from Dhs89.06 million in H1 2024. Revenue reached Dhs774.79 million, while sales value more than doubled to Dhs1.41 billion. The number of units sold rose by 59% to 788, pushing the development backlog to Dhs2.62 billion — a 42% year-on-year increase.
Operating profit increased by 47% to Dhs204.15 million, and EBITDA rose 42% to Dhs239.25 million. RAK Properties’ total assets grew to Dhs8.29 billion, and market capitalisation stood at Dhs4.32 billion at the end of June. Its share price has increased 26.3% since the start of the year.
“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,” said Abdulaziz Abdullah Al Zaabi, Chairman of RAK Properties.
“Our performance highlights Ras Al Khaimah’s unprecedented appeal as a real estate destination and investment hub,” he added.
CEO Sameh Muhtadi said: “Our H1 results show a successful six months for RAK Properties. 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.”
Mina project updates
More than 800 units are expected to be delivered at Mina by year-end. Projects such as Bay Residences, Cape Hayat, Granada II, and others are progressing through key construction phases. Solera, a 451-unit residential community, was launched as the first phase of Downtown Mina.
Key developments this year also include partnerships with Four Seasons, Nikki Beach, and Ellington. Earlier, RAK Properties introduced the Anantara Mina Ras Al Khaimah Residences and ENTA by HIVE.
Armani collaboration announced
Post-period, RAK Properties announced the Armani Beach Residences Ras Al Khaimah, a branded residential project on Raha Island. The project will feature the world’s first Armani villas, with 41 villas and 32 apartments designed by architecture firm Denniston.
The launch coincides with Armani/Casa’s 25th anniversary, the Giorgio Armani brand’s 50th anniversary, and RAK Properties’ 20th year.
tanvir@dubainewsweek.com
