RAK Properties expects more than 1,400 homes to be ready for handover by the end of 2026, which it says will be a record year for deliveries. The Ras Al Khaimah developer set out the target in its nine-month update on 6 November.
Revenue for the nine months to 30 September was AED 809.72 million. The sales backlog, the value of homes sold but not yet delivered, rose to AED 3.18 billion from AED 2.88 billion a year earlier.
01The nine months in figures
| Measure | Nine months to 30 September 2026 |
|---|---|
| Revenue | AED 809.72 million |
| Gross profit | AED 312.59 million |
| EBITDA | AED 202.71 million |
| Net profit after tax | AED 111.37 million |
| Homes sold | 260, worth AED 476 million |
| Average price per home | AED 1.83 million (AED 1.65 million a year earlier) |
| Average selling rate | AED 1,916 per sq ft |
| Sales backlog | AED 3.18 billion (AED 2.88 billion a year earlier) |
| Total assets | AED 8.9 billion |
RAK Properties, 6 November 2026.
The developer said it is not using blanket discounts. It has been meeting international buyers through its broker network after roadshows in Europe.
02Handovers so far
In the nine months, 748 homes became available for handover at Bay Residences 2, Granada Extension and Bay Views. RAK Properties handed over 356 homes to their owners across its completed projects, including Bay Residences, Granada, Marbella, Malibu, Flamingo and Bay Views.
The next deliveries are at Beach Houses and Cape Hayat, both in Mina Al Arab. They are due in the last quarter of the year.
03Construction progress on each project
| Project | Progress at 30 September 2026 |
|---|---|
| Bay Views | Complete; handovers under way |
| Beach Houses, phases 1 and 2 | Substantially complete; utility connections and readiness checks to follow |
| Cape Hayat | Over 98% complete; home previews under way in Towers 1 and 2 |
| Quattro Del Mar | 64.1% complete |
| Edge | 34% complete |
| Skai | 14.9% complete |
| Mirasol I | 6.5% complete; main contractor on site |
| Mirasol II | Main contractor to be appointed this quarter |
| Solera | Enabling works complete; main contract to follow |
| Enta Mina | 7% complete overall |
| Anantara Residences Mina | Villa main contract awarded; apartment piling and enabling works 84% complete |
RAK Properties, 6 November 2026.
At Cape Hayat, Civil Defence approvals are in place for Towers 3 and 4. The landscaping, pool and shared amenities are ready, the developer said.
04What comes next
RAK Properties plans to bring The Strand and its first community, Lunara on The Strand, back to market in early 2027. The Strand is on the mainland at Al Marjan Beach.
The Four Seasons Resort and Residences Ras Al Khaimah at Mina is due to go on sale in the first half of 2027. The developer has launched projects worth AED 5.4 billion since 2025, with more than 5,000 homes in planning, design, construction or delivery.
It holds about 924,862 sq m of undeveloped land across Mina and The Strand. That could support about 1.44 million sq m of floor space.
05What it means if you are buying
If you own a home at Cape Hayat or Beach Houses, handover is the next step. Our handover guide and snagging guide cover what to check before you take the keys.
If you are buying at an earlier stage, use the progress figures. They show how far each building has come and how much of the build is still to go before your final payments fall due.
For background on the emirate, see our guides to buying property in Ras Al Khaimah and living in Mina Al Arab. You can browse all current launches on our RAK Properties developer page.
ProjectsProjects in this story.
Cape HayatRAK Properties · from AED 700,000
Quattro Del MarRAK Properties · from AED 875,000
SkaiRAK Properties · from AED 877,000
Enta MinaRAK Properties · Price on request
Mirasol IIRAK Properties · from AED 861,000
SoleraRAK Properties · Price on request
Anantara Residences MinaRAK Properties · Price on request
Lunara on The StrandRAK Properties · from AED 1,050,000SourcesWhere this story comes from.
Sources
- RAK Properties PJSC: RAK Properties on track for record home deliveries by end of year as developer meets period of change and challenge with sustained performance and results, 6 November 2026
- Khaleej Times: RAK Properties targets record home handovers by year-end despite sales slowdown, 6 November 2026
Corrections
- No corrections to this story. If something has changed or is wrong, tell us and we will correct it and log the change here.
7 Nov 2026, 21:23 GST · Reported by OffPlan Insider Newsdesk, checked against the developer's own material before publication.
