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 Bateen

Al Bateen is a residential area located in Abu Dhabi, in the coastal area between Nareel Island and Al Karamah Island. The area has access to Sheikh Rashid Al Maktoum Road, which is one of the key highways of the emirate.

Al Maryah Island

Al Maryah Island is located in the northeastern part of Abu Dhabi. The center of the region is Sowwah Square, which has 40 firms and many business towers. This functional development combines work, retail, entertainment and paid work. This location still allows residents to get to Abu Dhabi International Airport in less than thirty minutes.

Airport Street

Airport Street, also known as Airport Road or 2nd Street, is an area located on the mainland of Abu Dhabi that stretches across a big part of the emirate. The formal name of the area is Sheikh Rashid Bin Saeed Al Maktoum Street.

Al Shamkha

Al Shamkha is a popular area in Abu Dhabi which is currently under construction and development. The area plans to be completed soon, as it is part of the strategic 2030 vision for the emirate of Abu Dhabi. Strategically located away from the city, and closer to the industrial area of Mussafah, the residential community will house around 22,000 people, once completed.

Madinat Al Riyad

Madinat Al Riyad, also known as Zayed Military City, is a multifunctional district with an area of 8,000 hectares, located on the outskirts of Abu Dhabi. The community is close to Sheikh Mohammed Bin Rashid Al Maktoum Street, where one can get easy access to Sweihan Road (E20) and Al Ain Road. Among the areas which are situated nearby are Al Shamkhah, Al Shawamekh, Al Nahdah, Zayed Military City, Bani Yas and Al Falah.

Hamdan Street

Hamdan Street, also known as Sheikh Hamdan bin Mohammed Street, is one of the central streets of Abu Dhabi which is 4km in length. It’s also considered the oldest area of the Emirati capital, which is also known for its shopping centers and premium properties. Here one can find 4 and 5-star hotels including Novel Hotel City Center, Al Maha Arjaan by Rotana and Crowne Plaza Abu Dhabi.

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