July 11, 2024: Ras Al Khaimah has become the largest shareholder in RAK Properties by increasing its equity ownership from 5.05% to 34%. This strategic move underscores the emirate's commitment to supporting and enhancing the growth and development of one of its leading real estate developers.

The increase in equity stake is a clear indication of the confidence that the government of Ras Al Khaimah has in the future prospects of RAK Properties. By bolstering its investment, the government aims to provide a stable and supportive framework that will enable RAK Properties to continue its ambitious projects and contribute to the overall economic development of the emirate. 

In an official press release by RAK Properties, Abdulaziz Abdullah Al Zaabi, Chairman, RAK Properties stated, “The government's strategic investment and increased stake in RAK Properties underscore their belief in our vision. This collaboration will not only provide us with the resources to accelerate our growth and innovation but also reinforces our commitment to bringing luxury living to RAK. Together, we are poised to drive forward transformative economic, social, and environmental projects that will benefit Ras Al Khaimah.”

RAK Properties has recently completed several high-profile projects, including luxury residential communities, state-of-the-art commercial spaces, and world-class hospitality developments. The company has also announced plans for new ventures that aim to further enhance the lifestyle offerings in Ras Al Khaimah, attracting more investors and residents to the emirate.

Aligned with the emirate’s emphasis on sustainability, RAK Properties is committed to incorporating eco-friendly practices and sustainable designs in all its projects. The increased government investment will support these initiatives, ensuring that future developments contribute to a greener and more sustainable environment.

The decision by the government of Ras Al Khaimah to increase its equity stake in RAK Properties is a testament to the strong partnership between the public and private sectors in the emirate. This strategic move is expected to further boost investor confidence and accelerate the growth of the real estate sector in Ras Al Khaimah, ultimately contributing to the overall economic development and prosperity of the region.