Latest news with #Dh74
Khaleej Times
20-05-2025
- Business
- Khaleej Times
Ras Al Khaimah's property outlook remains bullish, fuelled by healthy demand
The outlook for Ras Al Khaimah's property market is very promising, fuelled by the Emirate's growing reputation as both an investment hub and a tourism destination. With continued government support, infrastructure upgrades, and a clear lifestyle proposition, the market is seeing healthy demand across residential, hospitality, and mixed-use segments. RAK Properties, the emirate's leading publicly listed property developer is playing a key role in shaping this momentum. The company currently has over Dh5 billion worth of developments in the pipeline, more than 3,000 units under construction, and over 800 handovers planned in 2025, its busiest year yet. RAK Properties had a strong start to 2025, with performance in Q1 reflecting a mix of solid delivery, smart project rollout, and healthy investor demand. Revenue rose by 28 per cent year-on-year to Dh370 million, while profit before tax increased by 64 per cent to Dh74 million, which is a clear indication of the momentum building across the business. 'This growth is being driven by strong uptake across new launches, particularly branded and waterfront developments like Mirasol and SKAI, as well as steady construction progress across our active pipeline. In fact, the company sold 503 units during the quarter, which is the highest quarterly figure to date, with sales valued at Dh839 million,' Sameh Muhtadi, CEO of RAK Properties, told Khaleej Times in an interview. There's also a healthy forward pipeline, with a development backlog of Dh2.33 billion, giving strong visibility into future revenue. 'On the operational side, we've been scaling up too by expanding our team by 31 per cent and rolling out a fully digital SPA process to simplify and enhance the customer journey. All of this supports a bigger picture: we're entering one of the most transformational phases in the company's 20-year history, and Q1 has set the tone for what's to come,' Muhtadi said. Flagship projects like Mina are helping redefine the waterfront experience in Ras Al Khaimah, blending luxury living with retail, hospitality, and leisure in one integrated destination. Branded residences and resort-style offerings are attracting a new wave of residents and investors looking for value, lifestyle, and long-term potential. 'We're also seeing more international names entering the market, brands like Four Seasons, Anantara, and Nikki Beach are anchoring some of the most exciting new developments. That kind of global interest signals real momentum in the luxury and branded property space,' Muhtadi said. RAK Properties reported revenue of Dh370 million in Q1 2025, reflecting an increase of 28 per cent compared to the same period in 2024. The growth was primarily driven by continued on-site development progress across multiple residential projects and strong uptake across new launches. Profit before tax rose to Dh74 million, up 64 per cent year-on-year, while Ebitda increased to Dh107 million — underscoring improved margins and operational leverage. The company maintained a solid financial position, with total assets reaching Dh8.15 billion and equity rising to Dh5.59 billion. As of 31 March 2025, the development backlog stood at Dh2.33 billion, offering strong visibility into future revenues. With new infrastructure like the upcoming hydrofoil service to Dubai and a fully equipped marina and yacht club, RAK is becoming more connected and more attractive than ever. 'All of this positions the Emirate as one of the UAE's most dynamic and fast-evolving real estate markets,' Muhtadi said. RAK Properties is actively working to merge real estate with hospitality to deliver community experiences. 'This approach is evident in Mina, our flagship waterfront destination, where hospitality brands and residential developments coexist in a vibrant, experience-led setting,' Muhtadi said. A standout example is the upcoming Anantara Mina Residences, where homeowners not only enjoy luxury beachfront living but also have the option to participate in a hotel-managed rental programme that blends long-term investment with access to five-star hospitality. 'We're also introducing other leading global names like Nikki Beach Resort & Spa, whose presence elevates the overall destination offering and strengthens Mina's position as a lifestyle hub. Beyond branded offerings, we're embedding hospitality-inspired living across our wider residential portfolio. Most of our upcoming projects are being designed with a focus on resort-style amenities, wellness spaces, concierge services, and curated communal areas which give residents a day-to-day experience that mirrors the feel of a high-end retreat,' Muhtadi said.
The National
14-02-2025
- Business
- The National
AD Ports Q4 profit surges five-fold as acquisitions boost revenue
AD Ports Group, the operator of industrial cities and free zones in Abu Dhabi, reported a five-fold jump in its fourth quarter net profit as revenue surged on the back of acquisitions in the UAE and abroad. Net profit attributable to owners of the company for the three months to the end of December 2024 climbed to Dh383 million ($104.2 million), from Dh74 million reported during the same period a year earlier, the company said on Friday in a statement to the Abu Dhabi Securities Exchange where its shares are traded. Revenue during the September-December period rose 28 per cent on an annual basis to Dh4.5 billion. The group's full-year profit rose 24 per cent year-on-year to Dh1.3 billion, as revenue grew 48 per cent to Dh17.2 billion. Last year 'marked another year of record revenue and earnings with the group delivering on its primary mission to enable trade,' said Capt Mohamed Al Shamsi, managing director and group chief executive of AD Ports. 'Not only did we deploy an agile, effective business strategy that translated geopolitical uncertainty in some regions into record revenue and profit, but we also leveraged the integration of our recent acquisitions to attain a new level of efficiency, international significance, and to maximise the financial synergies from the consolidation of the acquired entities.' AD Ports completed several new deals last year including acquiring 100 per cent of APM Terminals Castellon in Spain, as well as buying a 60 per cent stake in Dubai Technologies – a trade and transportation solutions developer based in Dubai. It also acquired 60 per cent stake in Tbilisi Dry Port, a key logistics terminal in Georgia, and secured 81 per cent ownership in the joint venture that signed a 20-year concession to operate and upgrade the existing Luanda Multipurpose Port Terminal in Angola. The Abu Dhabi company also completed the restructuring and integration of Spanish logistics platform Noatum Group's assets into AD Ports Group's existing business verticals to boost its portfolio. Established in 2006, AD Ports' portfolio includes 33 terminals, with a presence in more than 50 countries, and economic zones spanning more than 550 square kilometres. The company said all the major global shipping lines continue to avoid the Red Sea, despite a ceasefire deal in Gaza. 'Given recent developments on the subject, a resumption of the conflict, and thus of attacks in the Red Sea, is a possible scenario that cannot be excluded. Global shipping companies are still not ready to return to the Red Sea trade route because of this uncertainty and fear that Yemen's Houthis could intensify again their attacks,' it said. The imposition of new tariffs by the US is likely to create further trade tension and supply chain disruption globally, leading to changes in trade patterns and flows, with long-term implications to trade corridors, AD Ports said. 'It is likely that China builds up its links with the Global South and that trade among Global South nations accelerates in retaliation to the US tariffs. In other words, it could create opportunities for AD Ports Group, which has been increasing its exposure to Global South nations,' it added. This month, US announced a 10 per cent duty on all goods imported from China into the US. It also ordered a 25 per cent import tax on all steel and aluminium entering the US, set to take effect on March 12.
