At One Investments, we pride ourselves on being ahead of the curve. No matter where you are in the world, if you’re considering property investment, we strongly recommend Dubai. The city’s real estate sector demonstrated its resilience and appeal in Q3 2024, setting new records for transaction volumes and sales values.
In the third quarter of 2024, RAK Properties reported remarkable growth, firmly establishing its role as Ras Al Khaimah’s premier property developer. With a 30% year-on-year increase in revenue reaching $242.6 million (AED 891 million), and rise in gross profit by 46%, the company demonstrates strategic excellence and underscores Ras Al Khaimah’s growing allure as a destination for quality real estate investments. Let’s have a look at the reasons that lead to this outstanding performance:
Record-Breaking Sales and Strategic Location
The strategic location of many RAK Properties developments, including prime sites along Hayat Island, contributes to their market appeal. For example, projects like Bayview and Marbella Villa Phase 2 have been met with overwhelming buyer enthusiasm, with all Bayview apartments sold within hours of launch.
Resilient Financial Growth and Asset Expansion
RAK Properties has sustained a consistent upward trajectory in financial performance, with total assets growing to $2.1 billion (AED 7.74 billion) as of Q3 2024—a 20% increase from the previous year. This asset expansion underscores the company’s ability to reinvest in and expand its project pipeline, signaling both stability and ambition within the evolving UAE market.
Strategic Partnerships Boosting Hospitality Appeal
Through targeted partnerships, RAK Properties is enhancing its hospitality offerings and establishing Ras Al Khaimah as a luxury destination. Collaborations with renowned brands, such as Nikki Beach Global and IHG Hotels & Resorts, are set to bring high-profile projects like the Nikki Beach resort and Staybridge Suites to Mina Al Arab. These alliances extend RAK Properties’ hospitality portfolio, leveraging global expertise to attract luxury travelers, drive tourism, and strengthen Ras Al Khaimah’s reputation as an alternative to more crowded locales.
Expanding Lifestyle Offerings and Community Appeal
In addition to residential and hospitality projects, RAK Properties has introduced lifestyle-focused developments like Quattro Del Mar, a new lifestyle hub featuring entertainment and premium facilities. With an impressive 70% of units already sold, Quattro Del Mar reflects the demand for mixed-use communities that offer more than just residential amenities.
RAK Properties commitment to a long-term vision for Ras Al Khaimah, articulated by Chairman Abdulaziz Abdullah Al Zaabi focuses on elevating the Emirate’s profile as a lifestyle and tourism destination. Through its high standards of project execution and dedication to quality, the company not only drives its own growth but also contributes to the economic diversification of Ras Al Khaimah, positioning it as a desirable alternative to more saturated property markets within the UAE.
At One Investments ee opens doors to one of the most vibrant real estate sectors, presenting a unique combination of increasing property values, steady rental yields, and high demand. Contact us to learn how you can make a smart investment in the UAE’s thriving real estate market.
