15/08/2025 13:39 AST
RAK Properties recorded a revenue of AED774.79 million ($210.97 million) for the H1 period, with net profit soaring by a remarkable 80% to AED160.6 million ($43.73 million), compared to AED89.06 million registered for the first half last year.
The newly released figures also resonated with a 101% increase in sales value to AED1,411 million - up from AED703 million last year.
As a result, RAK Properties' development backlog - a clear indicator of future revenue and cash flow certainty - stands at AED2,624 million, up 42% year on year. This was fueled by a 59% surge in the number of units sold - reaching 788 - a core indicator of both demand and consistently positive traction across RAK Properties' ecosystem of assets and projects, the developer said.
Overall, this clearly demonstrates RAK Properties' strong operational efficiency, expanding appeal, and market capture that continues to attract buyers and investors to one of the UAE's fastest moving real estate sectors, it said.
RAK Properties' consistent progress across its portfolio of residential and hospitality projects is revealed in a jump in operating profit for H1, which increased 47% to AED204.15 million - up from AED138.51 million last year. This is further underscored by a 42% increase in Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) with H1 figures showing AED239.25 million - a reflection of the developer's operational strength, it said.
With this solid financial foundation propelling continued growth, RAK Properties' balance sheet remains robust. Recorded total assets grew by 3.5% reaching AED8,290 million, with this stable financial position, coupled with a 3% increase in capital and reserves to AED5,701 million, this provides clear and positive visibility into the developer's revenue funds for future expansion plans and sustained investment.
Investor confidence remains solid, reflected in RAK Properties' share price rising by 26.3% YTD to AED1.44 and market capitalisation reaching AED4,320 million by H1/2025 end.
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, commented: "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."
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