Profit before tax rose to AED74 million, up 64 percent year-on-year
RAK Properties has announced a revenue of AED 370 million (USD 100.7 million) for the first quarter of 2025, marking a 28% increase compared to the same period in 2024. 📊 This significant growth was driven by ongoing progress across various residential developments and a strong response to newly launched projects. The Q1 2025 financial performance sets a promising tone for a milestone year, as the company celebrates 20 years of continued growth, rooted in its commitment to discipline, delivery, and destination creation. 🏗️🎯
📌 Profit, EBITDA, and Financial Position
RAK Properties reported a 64% year-on-year increase in profit before tax, reaching AED 74 million in Q1 2025. Meanwhile, EBITDA climbed to AED 107 million, reflecting enhanced operational margins and solid leverage. 💹
The company’s financial standing remains strong, with total assets rising to AED 8.15 billion, and equity increasing to AED 5.59 billion, ensuring continued financial resilience and investor confidence. 🏦
📦 Development Pipeline and Sales Performance
As of March 31, 2025, the company reported a development backlog of AED 2.33 billion, offering a clear pathway for future income streams and project deliveries.
Sales performance remained healthy and encouraging, with 503 units sold in the first quarter, valued at AED 839 million. 🏘️ This marks the highest quarterly volume in the company’s history, showing strong interest from both end-users and real estate investors.
🗣️ Chairman’s Statement: Building with Purpose
Abdulaziz Abdullah Al Zaabi, Chairman of RAK Properties, remarked:
“RAK Properties is delivering at a pace that truly reflects the strength of our long-term vision and operational capabilities. As we commemorate 20 years of our journey, our focus remains forward-looking — building communities that play a pivotal role in transforming Ras Al Khaimah into a globally recognized hub for investment, tourism, and lifestyle.”
He further emphasized:
“This quarter signals our growth maturity — scaling operations, attracting international collaborators, and supporting the broader economic goals of the Emirate. Our strategic focus remains on value creation, delivery excellence, and earning long-term investor trust.” 🏙️🌍
🧩 CEO Outlook: A Transformational Year Ahead
Sameh Muhtadi, CEO of RAK Properties, shared:
“2025 is shaping up to be a transformational year. We are on track to complete over 800 unit handovers, while more than 3,000 units are under active construction. This momentum across various fronts showcases our financial discipline and consistent delivery.” 🏗️✅
He added:
“Our results in Q1 reflect a strengthened financial foundation, with improved margins and cost efficiency setting the stage for sustainable long-term growth. We launched pivotal phases of the Mina masterplan, expanded our hospitality and residential portfolios, and scaled our team to meet operational needs.”
“Our focus remains on differentiation, execution, and unlocking the full potential of our pipeline. This quarter is just the beginning of what we aim to accomplish in 2025.” 🚀
🔍 Final Thoughts
RAK Properties’ Q1 2025 performance highlights its strategic agility, financial strength, and deep-rooted commitment to delivering value to its stakeholders. With record-breaking unit sales and continued development momentum, the company stands poised for a landmark year of progress, innovation, and growth. 🏡📈
