RAK Properties Targets Record Home Handovers By Year-End Despite Sales Slowdown

• RAK Properties targets record home handovers by end of 2026.
• New sales contracts have slowed, but project execution remains on track.
• The developer notes a shift toward end-user buyers rather than speculators.

• 2026 — Key year
• 18% — Notable rate
• 202 — Volume / scale

What is RAK Properties' handover target for 2026?

RAK Properties has announced plans to complete a record number of residential handovers by December 2026, surpassing the previous high set in 2023. While the exact figure was not disclosed, the company indicated that over 1,200 units across its Mina, Al Marjan Island, and Hayat Island masterplans are scheduled for delivery in the fourth quarter alone. The acceleration reflects improved contractor performance, streamlined municipality approvals, and the resolution of supply-chain bottlenecks that affected 2024-25 deliveries.

How does the sales slowdown affect the developer's outlook?

New sales contracts in the first nine months of 2026 declined approximately 18% year-on-year, which the CEO attributed to higher interest rates, tighter mortgage lending standards, and a natural cooling after the post-pandemic surge. However, the company emphasized that the slowdown is concentrated in investor-led purchases, while end-user demand — particularly from UAE nationals and long-term expatriates — remains resilient. The shift reduces cancellation risk and supports steady cash collections on units under construction. RAK Properties reported a 48% drop in net profit for the period, largely due to lower revenue recognition from fewer new sales, but reaffirmed its full-year revenue guidance of AED 1.8-2.0 billion.

What does this mean for Ras Al Khaimah's property market?

The record handover pipeline will significantly increase ready-to-move inventory in RAK's prime coastal districts, potentially easing rental pressure and offering more options for end-users. For investors, the completion of infrastructure — roads, utilities, community amenities — around Mina and Al Marjan Island enhances the long-term value proposition. The developer's focus on end-user alignment also mirrors a broader market maturation, where sustainable occupancy replaces speculative flipping. This bodes well for RAK's ambition to grow its resident population to 500,000 by 2030, as affordable, quality housing stock is a prerequisite for that growth.