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RAK Properties says revenue funds available for future expansion
RAK Properties said its capital and reserves rose 3 percent year-on-year to 5.7 billion UAE dirhams ($1.6 billion) in the first half of 2025, which shows 'clear and positive visibility' into its revenue funds for future expansion.
Total assets grew by 3.5 per cent YoY to AED 8.3 billion, the developer said in a statement published on the Abu Dhabi Securities Exchange.
The company's development backlog – an indicator of future revenue and cashflow certainty – reached AED2.6 billion, rising 42 percent YoY. This was fuelled by a 59 percent YoY surge in the number of units sold at 788.
The delivery of projects at Mina master development will continue for the rest of 2025 and into 2026, the statement said.
Work on projects such as Bay Residences, Granada II, and Cape Hayat is moving ahead, while contracts have been awarded and site work is underway for Bay Views, Edge, and Quattro Del Mar.
RAK Properties expects to deliver more than 800 units before year-end, the statement said.
(Writing by P Deol; Editing by Anoop Menon)
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