Ras Al Khaimah's property outlook remains bullish, fuelled by healthy demand
The outlook for Ras Al Khaimah's property market is very promising, fuelled by the Emirate's growing reputation as both an investment hub and a tourism destination. With continued government support, infrastructure upgrades, and a clear lifestyle proposition, the market is seeing healthy demand across residential, hospitality, and mixed-use segments.
RAK Properties, the emirate's leading publicly listed property developer is playing a key role in shaping this momentum. The company currently has over Dh5 billion worth of developments in the pipeline, more than 3,000 units under construction, and over 800 handovers planned in 2025, its busiest year yet.
RAK Properties had a strong start to 2025, with performance in Q1 reflecting a mix of solid delivery, smart project rollout, and healthy investor demand. Revenue rose by 28 per cent year-on-year to Dh370 million, while profit before tax increased by 64 per cent to Dh74 million, which is a clear indication of the momentum building across the business.
'This growth is being driven by strong uptake across new launches, particularly branded and waterfront developments like Mirasol and SKAI, as well as steady construction progress across our active pipeline. In fact, the company sold 503 units during the quarter, which is the highest quarterly figure to date, with sales valued at Dh839 million,' Sameh Muhtadi, CEO of RAK Properties, told Khaleej Times in an interview.
There's also a healthy forward pipeline, with a development backlog of Dh2.33 billion, giving strong visibility into future revenue. 'On the operational side, we've been scaling up too by expanding our team by 31 per cent and rolling out a fully digital SPA process to simplify and enhance the customer journey. All of this supports a bigger picture: we're entering one of the most transformational phases in the company's 20-year history, and Q1 has set the tone for what's to come,' Muhtadi said.
Flagship projects like Mina are helping redefine the waterfront experience in Ras Al Khaimah, blending luxury living with retail, hospitality, and leisure in one integrated destination. Branded residences and resort-style offerings are attracting a new wave of residents and investors looking for value, lifestyle, and long-term potential. 'We're also seeing more international names entering the market, brands like Four Seasons, Anantara, and Nikki Beach are anchoring some of the most exciting new developments. That kind of global interest signals real momentum in the luxury and branded property space,' Muhtadi said.
RAK Properties reported revenue of Dh370 million in Q1 2025, reflecting an increase of 28 per cent 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 Dh74 million, up 64 per cent year-on-year, while Ebitda increased to Dh107 million — underscoring improved margins and operational leverage.
The company maintained a solid financial position, with total assets reaching Dh8.15 billion and equity rising to Dh5.59 billion. As of 31 March 2025, the development backlog stood at Dh2.33 billion, offering strong visibility into future revenues.
With new infrastructure like the upcoming hydrofoil service to Dubai and a fully equipped marina and yacht club, RAK is becoming more connected and more attractive than ever. 'All of this positions the Emirate as one of the UAE's most dynamic and fast-evolving real estate markets,' Muhtadi said.
RAK Properties is actively working to merge real estate with hospitality to deliver community experiences. 'This approach is evident in Mina, our flagship waterfront destination, where hospitality brands and residential developments coexist in a vibrant, experience-led setting,' Muhtadi said.
A standout example is the upcoming Anantara Mina Residences, where homeowners not only enjoy luxury beachfront living but also have the option to participate in a hotel-managed rental programme that blends long-term investment with access to five-star hospitality. 'We're also introducing other leading global names like Nikki Beach Resort & Spa, whose presence elevates the overall destination offering and strengthens Mina's position as a lifestyle hub. Beyond branded offerings, we're embedding hospitality-inspired living across our wider residential portfolio. Most of our upcoming projects are being designed with a focus on resort-style amenities, wellness spaces, concierge services, and curated communal areas which give residents a day-to-day experience that mirrors the feel of a high-end retreat,' Muhtadi said.
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