Mirasol
From AED 1.62M (portal-listed)
Developers / RAK Properties
Developer profile · Ras Al Khaimah
RAK Properties: the listed developer that owns the masterplan it builds in
Founded 2005, listed in Abu Dhabi, a third owned by the government — and behind almost every apartment on Ras Al Khaimah’s Mina Al Arab waterfront. Eleven projects here, from AED 700,000 studios to AED 17 million beachfront villas.
Founded2005, by emiri decree
ListedADX: RAKPROP; c. 34% government
MasterplanMina Al Arab, Ras Al Khaimah
H1 2026Net profit AED 76.65m; backlog AED 3.3bn
DeliveredMore than 3,100 units since 2005
Here11 projects, AED 700,000 to AED 17m
About RAK Properties
RAK Properties is the closest thing Ras Al Khaimah has to an establishment developer. Founded in 2005 on the instruction of Sheikh Saud bin Saqr Al Qasimi, listed on the Abu Dhabi Securities Exchange and now roughly a third owned by the government, it is both a developer and the master developer of Mina Al Arab — the 3.5 km island masterplan that carries almost its entire residential portfolio.
That dual role is the key to reading the company. When you buy a RAK Properties apartment at Mirasol or Cape Hayat, you are buying into a community whose roads, beach, marina, retail and hotels are also being built by the same balance sheet. It means the developer controls the quality of the neighbourhood, and it means the developer’s cash position is the neighbourhood’s construction programme.
The published numbers are unusually clear for a Gulf developer. In the first half of 2026 it reported revenue of AED 533 million, gross profit of AED 214 million and net profit after tax of AED 76.65 million, against a record sales backlog of AED 3.3 billion — up 26% on the same period a year earlier. Equity stands at AED 6.02 billion. It also guided to handing over around 1,300 homes during 2026, having delivered 101 in the first quarter alone.
The caveat is in the same numbers. Net profit more than halved year on year in H1 2026 and revenue fell by roughly a third, which the company attributes to a transitional phase in its launch and revenue-recognition cycle. Ras Al Khaimah’s wider market has cooled at the same time. A buyer should read that as a developer with a large forward book and a thinner current profit — solvent, listed and audited, but not immune to the cycle, and reliant on completing and selling the backlog.
Strategically the company is doing two things at once. Inside Mina it is densifying: Raha Island is being filled with towers — SKAI, Solera, Nura, EDGE, Mirasol — while Hayat Island carries the villas and the older apartment blocks. Outside Mina it has unveiled The Strand, a new mainland community at Marjan Beach designed by Chapman Taylor, with the first release, Lunara, on sale since February 2026 and gross development value reported at AED 12 billion.
For buyers, the most useful thing about this developer is how much it publishes. Each project carries a factsheet with unit types, size bands, starting prices and payment plans — sometimes three alternative plans — and those figures are usually close to what the listing portal records. Where they diverge, as at SKAI and Nura, the gap is explained by which units are being advertised rather than by anything mysterious. That is rare enough in this market to change how you negotiate: you can argue from the developer’s own sheet.
The portfolio on this site is the eleven projects the listing portal attributes to RAK Properties, from AED 700,000 studios at Cape Hayat to AED 17 million beachfront villas at the NB Collection. One of them, The Ritz-Carlton Residences in the Al Wadi reserve, is a branded project whose developer of record is RAK Hospitality Holding rather than RAK Properties; the page says so and should be read with that in mind.
RAK Properties projects
Eleven projects, each with its own page: what the developer publishes, what the portal records, and where the two disagree.
SKAI
From AED 1.61M (portal-listed)
Solera
From AED 1.23M (portal-listed)
Nura
From AED 1.30M (portal-listed)
Cape Hayat
From AED 700,000 (portal-listed)
EDGE
From AED 750,000 (portal-listed)
Quattro Del Mar
From AED 875,000 (portal-listed)
Marbella Villas II
From AED 1.75M (resale)
Granada II
From AED 2.3M (resale)
NB Collection
From AED 17M (portal-listed)
The Ritz-Carlton Residences
From AED 16.3M (portal-listed)
For the district itself — the two islands, the hotel cluster, what is built and what is still drawn — see the Mina Al Arab community guide. Prices marked portal-listed come from the listing portal’s project records; where the developer publishes its own factsheet price it is shown alongside on the project page, and the two often differ by which stock is being advertised. Ask us for the current unit list rather than working from a headline.
What distinguishes RAK Properties
It publishes its price lists
Unit types, size bands, starting prices and payment plans are on the factsheet for almost every project, and several carry more than one plan. That is unusually transparent for Ras Al Khaimah, and it means a buyer can negotiate from the developer’s own document instead of a rumour.
Master developer and developer in one
Mina Al Arab’s roads, beach, marina and hotels are RAK Properties’ own programme. The upside is control over the neighbourhood; the risk is that a slowdown in the company delays the amenities you were sold as part of the community, not just the keys to your unit.
Delivery at scale, profit under pressure
Around 1,300 homes are due to be handed over during 2026 against a record AED 3.3 billion backlog, while H1 2026 net profit more than halved year on year. Ask for the construction update on your specific building rather than the group’s delivery headline.
A resort market, not a city market
Mina Al Arab’s rents depend on tourism, the hotel cluster and, above all, Wynn Al Marjan Island opening on schedule. That is a genuine catalyst and a single point of failure, and no developer can underwrite it.
The portfolio spans four very different products
Studios at AED 700,000 and AED 17 million villas are sold by the same company but not into the same market. A 237-home tower, an 888-home mixed-use block and an eleven-villa collection have different liquidity, different service charges and different buyers.
Buying a RAK Properties property: what to check
The company is easy to research. The building is what needs checking.
The title structure and registration route with the Ras Al Khaimah Land Department.
The escrow account and project registration number for the specific building.
The payment plan as written in the SPA, and whether instalments are milestone-linked.
The service charge estimate per square foot, itemised by amenity.
Whether the amenities you were shown are built, under construction or still designed.
Any post-handover balance: the markup, the frequency and the early-settlement terms.
Beach access: whether it is deeded, an easement or a hotel arrangement.
For completed projects: whether you are buying developer stock or resale, and the community charge history.
The delay clause and the notice period in the sale and purchase agreement.
Recent registered transfers and lets in the same building, not the emirate average.
RAK Properties frequently asked questions
Who is RAK Properties?
A Ras Al Khaimah developer founded in 2005, listed on the Abu Dhabi Securities Exchange as RAKPROP with roughly a third government ownership, and the master developer behind the Mina Al Arab waterfront community. It reports more than 3,100 units delivered since inception.
What has RAK Properties built?
The Mina Al Arab masterplan on Ras Al Khaimah’s coast, including Hayat Island, Raha Island, the waterfront promenade, the beach clubs and the resort hotels, plus residential buildings from Cape Hayat and Quattro Del Mar to Mirasol, SKAI, Solera, Nura and EDGE, and villa communities including Marbella, Granada and the NB Collection.
How big is RAK Properties?
It reported revenue of AED 533 million and net profit after tax of AED 76.65 million in the first half of 2026, with a sales backlog of AED 3.3 billion and equity of AED 6.02 billion.
Is RAK Properties a safe developer to buy from?
It is a listed company with audited accounts, a government shareholder and twenty years of delivery, which puts it among the stronger counterparties in the emirate. Its first-half 2026 profit fell by more than half year on year and it is carrying a large delivery programme, so the sensible question is not solvency but the construction programme and the escrow position of your specific building.
Where does RAK Properties build?
Principally at Mina Al Arab in Ras Al Khaimah, on Hayat Island and Raha Island, with The Strand at Marjan Beach as its new mainland masterplan. The Ritz-Carlton Residences in the Al Wadi reserve is marketed alongside the portfolio but is a RAK Hospitality Holding project.
How much do RAK Properties homes cost?
In this portfolio, from about AED 700,000 for a studio at Cape Hayat to AED 17 million for a beachfront villa at the NB Collection, with most apartments between AED 750,000 and AED 4 million. Every price on this site is labelled with its source.
What payment plans does RAK Properties offer?
They vary by project and most buildings publish more than one: 50/50 and 70/30 at SKAI, 40/60 and 60/40 at Nura, 40/60 with post-handover at Quattro Del Mar and 60/40 at EDGE, with 10% down payments typical. Always confirm the schedule in the SPA.
Is Ras Al Khaimah freehold for foreign buyers?
Freehold ownership is available to foreign buyers in designated communities including Mina Al Arab. Confirm the title structure and registration route for the specific unit with the developer and the Land Department.
Considering a RAK Properties property?
Tell us which project and budget. We will send the current unit list, the payment schedule as written in the SPA, the estimated service charge, the construction update for that building, and our honest read on the numbers.
Sources and verification. Unit counts, unit types, sizes, starting prices, payment plans, completion lines, amenity lists and proximity figures were taken from RAK Properties’ own project pages at rakproperties.ae and the factsheet PDFs published with each one; company history, the Mina masterplan, The Strand, the Ritz-Carlton and NB Collection launches and the delivery record from its news archive; revenue, profit, equity, backlog and handover guidance from its H1 and Q1 2026 results announcements and ADX filings, with independent coverage of the results for context; and portal-listed prices, handovers and payment plans from the listing portal’s project records. Committed to publication: completion dates disagree between the developer’s factsheet and its live project page for several buildings — Quattro Del Mar appears as Q4 2026, Q2 2027 and December 2026 depending on the document — and between the portal and the developer for SKAI; the portal still lists Marbella Villas II and Granada II as under construction when both are complete and sold out; the portal’s payment plans frequently differ from the developer’s published schedules; the NB Collection has no developer price list and conflicting size data; and The Ritz-Carlton Residences is a RAK Hospitality Holding project that the portal attributes to RAK Properties. Nothing here is a valuation or a promise of return.