RAK Properties Plans to Hand Over 1,400 Homes This Year

Ras Al Khaimah: RAK Properties is preparing to make more than 1,400 homes ready for handover by the end of 2026, setting a potential new annual record for the company despite a slowdown in property sales. According to the developer’s financial results for the first nine months of 2026, 748 homes across Bay Residences 2, Granada Extension and Bay Views had been made available for handover by the end of September. The company expects another 691 homes, including units at Beach Houses and Cape Hayat, to become ready during the final quarter of the year. However, only 356 homes had actually been handed over to customers during the first nine months. Homes becoming ready for handover and homes delivered to buyers are not the same. RAK Properties reported revenue of AED 809.72 million and net profit after tax of AED 111.37 million during the nine-month period.Property sales slowed, with 260 homes sold for a combined AED 476 million. The company attributed the decline partly to regional uncertainty and changes to its new project launch schedule.Despite weaker sales, the company’s remaining contracted sales value increased to AED 3.18 billion, while total assets reached AED 8.9 billion.RAK Properties continues construction across several developments in Ras Al Khaimah, including Cape Hayat, Quattro Del Mar and other projects within its Mina destination. The developer is also preparing new residential launches in 2027, including The Strand and planned Four Seasons-branded properties.