RAK Properties has been a significant player in Ras Al Khaimah since 2005. It is a public company, started with the backing of the Ras Al Khaimah government. As the top publicly listed property developer in the area, their goal is to create vibrant communities and offer exceptional lifestyle experiences. They are transforming the real estate sector in the emirate with exciting new residential, commercial, and hospitality projects. One of their latest developments is Edge, Raha Island. This waterfront residential tower is inspired by yachts and will feature 237 units. It’s set to launch in the second quarter of 2024. RAK Properties is also teaming up with other companies to enhance their projects. They are partnering with Ellington Properties to develop a high-end waterfront project on Hayat Island. Additionally, they are working with Nikki Beach Global to bring the first branded resort and beach club to Mina Al Arab. These initiatives show RAK Properties' commitment to delivering high-quality developments that meet the changing needs of the market.
RAK Properties has shown strong financial growth recently. In 2023, the company made AED 1.004 billion in revenue. This is a significant increase from the previous year, when the revenue was much lower. The net profit also rose greatly, reaching over AED 30 million, which is a great improvement.
Their assets were worth AED 6.46 billion, and the total value of ownership was AED 4.30 billion. Moving to 2024, RAK Properties expects to earn AED 1.4 billion, reflecting a 40% increase from the year before. The net profit is also set to rise by 39%. The company's choice to reinvest profits shows they are focused on long-term growth and staying ahead in the market. This commitment to development highlights their dedication to creating lasting value for everyone involved.
RAK Properties is making a name for itself beyond Ras Al Khaimah. They are delivering unique projects that change the way we think about luxury living. Here are some highlights: Mina Al Arab - This is a beautiful waterfront community that includes homes, hotels, and leisure areas. Julphar Residence - Located on Reem Island in Abu Dhabi, this residential tower was a hit and sold out quickly. Quattro Del Mar - This exclusive coastal development on Hayat Island is known for its exciting design and quick sales. Cape Hayat - This project features four towers with 678 apartments. It has already sold 89% of its units by the third quarter of 2024. NB Collection - RAK Properties is also launching a project that will include luxurious beachfront villas, expected to be completed by 2026. RAK Properties has teamed up with well-known brands like Nikki Beach Global, IHG Hotels & Resorts, and Minor Hotels. These partnerships add to their appeal and help diversify their offerings.
RAK Properties has earned several awards that show its dedication to quality.
RAK Properties is dedicated to creating sustainable communities and protecting the environment. They use LED lights and solar energy systems in places like Mina Al Arab to save energy. They have recycling programs to manage waste, aiming for zero landfill. To conserve water, they install smart irrigation systems and promote water-saving technologies. Their construction projects focus on eco-friendly materials and energy efficiency. RAK Properties also engages the community by hosting workshops, beach clean-ups, and tree-planting events to raise awareness about sustainability. If you’re interested in investing with RAK Properties, contact SSG Seven Properties to explore opportunities in Ras Al Khaimah's real estate market.
