RAK Properties Reports $59 Million Net Profit as Sales Surge 90% in 2025

Ras Al Khaimah, UAE - October 24, 2025: RAK Properties, Ras Al Khaimah’s leading publicly listed property developer, has announced a net profit of $59 million (AED 216.8 million) for the first nine months of 2025, marking a strong year-to-date performance underpinned by soaring sales and steady project progress across its flagship coastal development, Mina.

The developer reported revenues of $317 million (AED 1.16 billion) by the end of Q3 2025, reflecting its continued momentum in driving growth through new launches, strong investor confidence, and ongoing construction milestones. Total units sold surged 90% year-on-year, reaching 1,214 homes compared to 640 during the same period last year. Sales value hit $546 million (AED 2.01 billion), underscoring the solid demand for RAK Properties’ developments amid the emirate’s rising global investment appeal.

Strong Financial Performance

Operating profit climbed to $75.8 million (AED 278.5 million), up from AED 191.6 million in 2024, while EBITDA increased 39%, reaching $90.2 million (AED 331.1 million), a sign of healthy cash generation and expanding operational capacity. The company’s total assets grew 6% to $2.31 billion (AED 8.49 billion), with equity and reserves rising to $1.57 billion (AED 5.76 billion).

Chairman Abdulaziz Abdullah Al Zaabi highlighted the company’s sustained trajectory:

“RAK Properties’ year-to-date results stand out as another indication of our strategic vision and long-term ambition coming to fruition. Our plan to create communities that attract a diverse mix of investors and residents is clearly reflected in the number of units sold and the strength of our sales backlog.”

He added,

“As we celebrate our 20th anniversary, the growth of Mina and the wider RAK market continue to establish Ras Al Khaimah as a unique real estate and lifestyle destination for a global audience.”

Expanding Momentum at Mina

CEO Sameh Muhtadi echoed this sentiment, noting that the company’s steady performance reinforces confidence in RAK’s position as a growing investment hub:

“Our results illustrate the upward trajectory of RAK Properties as a high-performing developer in a rapidly evolving market. With new launches and solid progress across Mina, we are confident in achieving our growth targets while continuing to enhance Ras Al Khaimah’s appeal as a destination of choice for investors and residents alike.”

The Mina project remains central to RAK Properties’ portfolio, contributing significantly to both sales and brand equity as the emirate accelerates its transformation in line with RAK Vision 2030, positioning itself as a global lifestyle, tourism, and investment hub.