RAK Properties is the listed master developer of Ras Al Khaimah, created in 2005 by decree of Sheikh Saud Bin Saqr Al Qasimi and traded on the Abu Dhabi Securities Exchange as RAKPROP. The Ras Al Khaimah government raised its holding from about 5 per cent to about 34 per cent in 2024. Its pipeline is concentrated in Mina Al Arab, the waterfront master community containing Hayat Island, Raha Island and Downtown Mina, with more than 5,000 units under construction and 1,400 handovers projected for 2026.
RAK Properties is Ras Al Khaimah’s listed master developer. It was created in 2005 by decree of Sheikh Saud Bin Saqr Al Qasimi, Ruler of Ras Al Khaimah, floated the same year in an offer reported as oversubscribed almost 57 times, and trades on the Abu Dhabi Securities Exchange as RAKPROP. Abdulaziz Abdullah Al Zaabi chairs it and Sameh Muhtadi is chief executive.
Who owns it matters here
In 2024 the Ras Al Khaimah government moved from roughly a 5 per cent holding to about 34 per cent. That changes the counterparty read on an off-plan purchase: the emirate is not merely the regulator of these projects, it is the largest shareholder in the company building them. A buyer weighing developer risk in RAK should price that differently from a privately held developer of the same size.
The scale, from its own numbers
The Q1 2026 statement reports revenue of AED 278m, profit before tax of AED 43.72m, total assets of AED 8.82bn, capital and reserves of AED 5.98bn and a development backlog of AED 3.44bn. Sales in the quarter were AED 228m across 129 units, 101 homes were handed over, and the company projects 1,400 handovers across 2026 with more than 5,000 units under construction on Raha Island and Hayat Island.
Read against a Dubai volume developer those are modest figures, and that is the point: RAK Properties is a single-emirate developer with a deep land position rather than a national one. Its pipeline is concentrated in one master community, which cuts both ways. Delivery is visible and comparable across phases, and the whole portfolio is exposed to one market.
Where it builds
Mina Al Arab is the flagship: a waterfront master community on the Ras Al Khaimah coast containing Hayat Island, Raha Island and the new Downtown Mina district. Named releases across it include Quattro Del Mar, Cape Hayat, Porto Playa, Bay Residences, Granada, Bermuda, Nura, SKAI, Solera and the branded Anantara and Armani Beach Residences lines. The Strand, launched in Q1 2026, is quoted by the company at an anticipated gross sales value of AED 12bn, with its first release Lunara at about AED 1bn across 583 homes.
Last reviewed 13 September 2026 · How we verify