RAK Properties H1 Profit Jumps 80% to $43.7M on Mina Sales Surge

Ras Al Khaimah, UAE – August 15, 2025 – RAK Properties has reported a significant financial upswing for the first half of 2025, driven by robust growth and strong sales at its flagship Mina destination.

For the six months ending June 30, the company posted revenues of $211 million (AED 774.79 million), with net profit rising 80% to $43.7 million (AED 160.6 million), compared to $24.2 million (AED 89.06 million) in the same period last year.

Sales value surged 101% year-on-year to $384.2 million (AED 1.411 billion), up from $191.4 million (AED 703 million) in H1 2024. This performance boosted RAK Properties’ development backlog to $714.5 million (AED 2.624 billion) — a 42% increase, underpinned by a 59% jump in units sold, reaching 788.

The company said the figures underscore its operational efficiency, growing investor appeal, and ability to capture market share in one of the UAE’s fastest-growing real estate sectors.

Operating profit for the first half rose 47% to $55.6 million (AED 204.15 million), while EBITDA climbed 42% to $65.1 million (AED 239.25 million), reflecting the developer’s strong operational performance across residential and hospitality projects.

Strong Financial Position

Total assets increased 3.5% to $2.26 billion (AED 8.29 billion), with capital and reserves up 3% to $1.55 billion (AED 5.701 billion). The company’s market capitalisation reached $1.18 billion (AED 4.32 billion) by the end of H1 2025, aided by a 26.3% year-to-date increase in its share price to AED 1.44.

Abdulaziz Abdullah Al Zaabi, Chairman of RAK Properties, 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.

Our performance highlights Ras Al Khaimah’s unprecedented appeal as a real estate destination and investment hub. The emirate’s diversified economy, investor-friendly regulations, and growing population reflect an increasing demand for a new kind of modern, urban-beachfront community with Mina as its vibrant heart. Already home to world-class resorts, and with more branded hotels and residences taking shape, its success mirrors the emirate’s broader vision to attract top-tier hospitality and investment from around the world – investment that continues to reshape both the emirate’s coastline and skyline.”

Sameh Muhtadi, CEO of RAK Properties, added:

“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. So far this year, RAK Properties has solidified its role as a driver of the emirate’s economic growth, with strong financial results supported by disciplined and expertly managed operations across diverse projects, from newly launched residential projects to landmark hotel announcements. The timely and steady growth of Mina – from new homes to critical infrastructure – signals our status as trusted and high-performing developer with the scale, vision, and expertise to achieve even more in the months and years ahead.”