RAK Properties

RAK Properties is a developer based in Ras Al Khaimah, the most northern of UAE's seven emirates, playing a vital role in the emirate's growth. Due to the unique landscape of the region with panoramic mountains and striking beaches, the developer could attract many foreign investments. RAK Properties also invest a lot in the region's infrastructure by building schools and recreation centers.

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RAK Properties Finacial Statement

RAK Properties Public Joint Stock Company (PJSC) was founded under the patronage of Sheikh Saud Bin Saqr Al Qasimi, Ruler of Ras Al Khaimah. The company's mission is to deliver high-quality and professionally managed projects that provide its customers with the highest level of service while maximizing their investments.

Despite difficulties that the real estate market faced in 2020, RAK Properties has reported an increased revenue to USD48.4M (AED178M), compared to $USD7M (AED136M) in Q3 2021. The firm also introduced several payment tools, including up to 10 years of payment plan; exemption of master community charges for up to seven years; waiver of property registration fees, and other benefits.

In its financial statement, RAK Properties stated that construction in Intercontinental Hotel and Resort, Mina Al Arab, and Anantara Mina Al Arab Hotel & Resort is still in progress. In comparison, many other developers in the region froze their projects.

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Conclusion:

  1. RAK Properties is a leading developer based in Ras Al Khaimah.
  2. Despite difficulties the real estate market faced in 2020, the developer improved its leading financial indicators and continued developing the current projects without delays.
  3. Established in 2005, now it is the leading developer with a portfolio comprising numerous real estate and tourism infrastructure objects and mix-use community developments.
  4. The company's most remarkable project is the Mina Al Arab district comprising two islands, Al Hayat being the most famous.

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Projects from the developer

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Built in Districts

All Areas

Al Reem Island

Al Reem Island is a natural island located about 600 meters off the north-eastern coast of Abu Dhabi. It's a mixed community with both residential, retail and commercial units and business projects. Spanning 6.5 million square meters and with investment costs amounting to $30 billion, the project has become among the renowned international projects, being one of the first free zones in Abu Dhabi, and gained the highest level of international interest, since properties in the area are open for foreign nationals for buying or leasehold.

Dubai

While there are a lot of residential complexes scattered across Dubai City, some of them are more popular than others due to a number of reasons. We are going to take a look at four of the most popular projects in the city.

Saadiyat Island

Just seven minutes from downtown Abu Dhabi and 20 minutes from Abu Dhabi International Airport, the 27 square kilometre Saadiyat Island is undergoing a remarkable transformation into a world class leisure, residential, business and cultural hub of global proportions, housing the world's largest single concentration of premier cultural assets.

Golf Gardens

Set amongst luscious verdant spaces, Golf Gardens is an upscale residential community in Khalifa City A, managed by the UAE’s largest listed developer, Aldar Properties. Initially, the AED 1B (USD 272.2M) project was launched back in 2008 by Sorouh Real Estate in collaboration with the Tourism Investment and Development Company (TDIC). Since then, Sorouh Real Estate and Aldar Properties completed an AED 9.3B (USD 2.5B) merger in 2013, and as a result, the residential community belongs solely to Aldar Properties’ real estate portfolio.

Palm Jebel Ali

Exuding the utmost exclusivity and privacy, Palm Jebel Ali in Jebel Ali Free Zone is set to become Dubai's largest island. It is being developed by the award-winning Nakheel Properties, who created the iconic Palm Jumeirah, ever popular among the city's wealthy. In December 2024, the developer announced the construction of 5-7 bedrooms luxury villas at The Frond D on the right side of Palm Jebel Ali. The starting cost of these residences is AED 18.1M (USD 4.9M).

Palm Jumeirah

The popular man-made island Palm Jumeirah.

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