RAK Properties reports AED370 million revenue in Q1
RAS AL KHAIMAH, 9th May, 2025 (WAM) — RAK Properties today announced its financial results for the first quarter of 2025. The results mark a strong start to a milestone year in which the Company celebrates two decades of growth, underpinned by delivery, discipline and destination-making.
RAK Properties reported revenue of AED370 million in Q1 2025, reflecting an increase of 28% 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 AED74 million, up 64% year-on-year, while EBITDA increased to AED107 million — underscoring improved margins and operational leverage.
The Company maintained a solid financial position, with total assets reaching AED8.15 billion and equity rising to AED5.59 billion.
As of 31st March 2025, the development backlog stood at AED2.33 billion, offering strong visibility into future revenues.
Sales volumes remained healthy, with 503 units sold in Q1 valued at AED839 million — marking more units sold than any other quarter — and reflecting sustained demand across both end-user and investor segments.
Abdulazis Abdullah Al Zaabi, Chairman of RAK Properties, said, “RAK Properties continues to deliver at a pace that reflects the strength of its vision and the depth of its operational readiness. As we mark 20 years since our establishment, we do so, not with nostalgia, but with clarity of purpose — building communities that contribute to Ras Al Khaimah’s transformation into a globally competitive destination for investment, tourism and quality living.
“This quarter reflects our growth maturity – delivering scale, attracting global partners, and supporting the Emirate’s broader economic ambitions. We will continue to move forward with a disciplined strategy that prioritises value creation, delivery excellence, and long-term investor trust.”
Sameh Muhtadi, CEO of RAK Properties, commented, “2025 is shaping up to be a transformational year. With more than 800 handovers planned and over 3,000 units currently under construction, we are delivering across multiple fronts while maintaining strong financial discipline.
This performance reflects not only our delivery momentum but also a notable strengthening of our financial fundamentals — with improved margins and disciplined cost management positioning us for sustained growth.”
He added, “In Q1, we activated key phases of the Mina masterplan, deepened our pipeline with high-performing hospitality and residential launches, and scaled our team to meet rising operational demands. We are focused on delivery, differentiation and unlocking long-term growth. This performance is only the start of what we intend to achieve this year.”
