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Organization Profile

RAK Properties

The leading publicly listed property developer of Ras Al Khaimah, shaping residential, hospitality and mixed-use destinations across the emirate.

RAK Properties is the Ras Al Khaimah government-backed master developer behind Mina Al Arab and Hayat Island, listed on the Abu Dhabi Securities Exchange and established in 2005. It builds and holds a mix of residential, hospitality and mixed-use assets, which means its results track both off-plan sales and operating hotel revenue rather than development alone.

The scale is visible in the backlog rather than in any single quarter. The company reported a development backlog of about 3.44 billion dirhams and a plan to hand over roughly 1,400 homes during 2026. For context on the run rate, full-year 2024 revenue rose 40 percent to about 1.4 billion dirhams, and year-to-date revenue through September 2025 was about 1,165.5 million dirhams, up 31 percent.

Its hospitality arm is what distinguishes it from a pure off-plan developer. The InterContinental Ras Al Khaimah on Hayat Island carries 351 keys, and Anantara Mina Al Arab adds a further 174, giving the company recurring hotel income alongside sales. That matters in an emirate whose hotel supply is about to expand sharply, because it puts the developer on both sides of the tourism build-out.

Reported figures should be read against their period. Quarterly revenue moves with handover timing rather than with demand, so a single quarter is a poor guide to the business. The first quarter of 2026 showed revenue of about 278 million dirhams and profit before tax of about 43.7 million dirhams, a normal early-year figure for a developer whose handovers are weighted later in the year.

Key facts

At-a-glance profile of RAK Properties
Founded	2005
Listed on	Dubai Financial Market (DFM)
Key projects	Mina Al Arab, Bay Views, Julphar Towers, Wynn Al Marjan Island
Recent innovation	Cryptocurrency payments via Hubpay
Focus	residential, hospitality, retail, mixed-use
Listed	Abu Dhabi Securities Exchange (ADX)
Development backlog	approx. AED 3.44 billion
2026 handover plan	approx. 1,400 homes
Hospitality keys	InterContinental RAK 351 + Anantara Mina Al Arab 174
FY2024 revenue	approx. AED 1.4 billion (+40%)

Leadership

Chairman

His Highness Sheikh Saud bin Saqr Al Qasimi

CEO / Managing Director

Sameh Muhtadi

Frequently asked questions

What does RAK Properties develop?

It is the master developer behind Mina Al Arab and Hayat Island in Ras Al Khaimah, building residential, hospitality and mixed-use projects. Unlike a pure off-plan developer it also owns and operates hotels, so its revenue combines property sales with recurring hospitality income.

Is RAK Properties publicly listed?

Yes, on the Abu Dhabi Securities Exchange. It was established in 2005 and is government-backed, with His Highness Sheikh Saud bin Saqr Al Qasimi as chairman and Sameh Muhtadi as chief executive.

How many homes is RAK Properties handing over in 2026?

Roughly 1,400, against a development backlog of about 3.44 billion dirhams. Because handovers cluster rather than spread evenly, quarterly revenue swings with delivery timing rather than with demand, so single quarters are a poor guide to the business.

Which hotels does RAK Properties own?

The InterContinental Ras Al Khaimah on Hayat Island, with 351 keys, and Anantara Mina Al Arab, with 174. Holding operating hotels alongside its development pipeline gives the company recurring income and a position on both sides of the emirate's tourism expansion.

How fast is RAK Properties growing?

Full-year 2024 revenue rose 40 percent to about 1.4 billion dirhams, and year-to-date revenue through September 2025 was about 1,165.5 million dirhams, up 31 percent. First-quarter 2026 revenue was about 278 million dirhams with profit before tax of about 43.7 million.

Is RAK Properties the same as Marjan?

No. RAK Properties develops Mina Al Arab and Hayat Island. Al Marjan Island is a separate reclaimed archipelago developed under Marjan. The two are distinct companies with distinct masterplans, though both sit inside the same emirate-wide development push.