01-05-2025
RAK Properties in ‘advanced discussions' with ultra-luxury brands for new eco-resort partnerships, CEO says
RAK Properties PJSC is in 'advanced discussions' with multiple international ultra-luxury and eco-resort brands as part of its strategic pivot to transform Ras Al Khaimah into a global tourism destination, according to CEO Sameh Muhtadi.
'We're in advanced discussions with a few more international brands, particularly in the ultra-luxury and eco-resort space,' Muhtadi told Arabian Business at the Arabian Travel Market in Dubai.
'Ras Al Khaimah's positioning around nature and wellness makes it the perfect setting for these kinds of experiences.'
The company's expansion of brand partnerships follows existing collaborations with Four Seasons, Minor Hotels' Anantara brand, Ellington, and Nikki Beach. Muhtadi indicated that new partnership announcements should be expected 'in the coming months,' without disclosing specific brands.
RAK's AED5 billion masterplan
The developer is intensifying its investment in the emirate's tourism sector with an AED5 billion masterplan for Mina, its flagship island destination. This comprehensive development will introduce a substantial number of new residential projects in 2025.
'In this year alone, we're planning to launch 12 new residential projects across Mina, as well as announce exciting partnerships covering residential, hospitality, and leisure,' Muhtadi said.
Several key developments, including Bay Residences 1 and 2 are approaching completion, while projects such as Cape Hayat, Quattro Del Mar, and Bay Views continue to progress, according to the CEO.
The Mina development represents a shift in RAK Properties' approach, moving beyond traditional residential developments to create 'vibrant, experience-led communities' that incorporate hospitality elements, waterfront retail, marina facilities, and resort experiences.
'We're creating not just a luxury hotel, but also a collection of private residences serviced by Four Seasons,' Muhtadi explained, describing the company's branded residence strategy. 'It's a full extension of the five-star hospitality experience into daily living.'
Record delivery target for anniversary year
The company has set ambitious delivery targets coinciding with its 20th anniversary this year, with plans to hand over more than 800 units in 2025 — a record for the developer.
'2025 marks our 20th anniversary, and we're on track to deliver over 800 units — making it one of our most active years yet,' Muhtadi said.
This acceleration aligns with RAK Properties' evolving business model, which increasingly focuses on hospitality-infused developments that target both residents and tourists. Recent launches like SKAI on Mina's Raha Island emphasise this approach by offering a 'wellness-driven, active lifestyle' according to Muhtadi.
The company is also broadening its development model beyond traditional residential projects. 'We see strong potential in standalone resort communities — places where leisure, wellness, and entertainment drive the overall lifestyle,' Muhtadi said.
RAK Properties' strategic shift supports the broader vision for Ras Al Khaimah, which has been working to position itself as a premium tourism destination. The emirate offers developers a unique landscape that combines beaches, mountains, and desert environments.
According to Muhtadi, RAK Properties is seeing 'strong interest from buyers across multiple markets, including the GCC, Russia & CIS, western Europe and the Indian subcontinent.'
