Rak Properties · ADX:RAKPROP
Rak Properties — H1 2025 Earnings Presentation
48 slides from Rak Properties's earnings presentation, August 2025
Slide 1: rakproperties.ae
il RAK PROPERTIES rakproperties.ae
Slide 2: Investor Relations H1 Highlights
RAK PROPERTIES INVESTOR RELATIONS H1 Highlights
Slide 3: Disclaimer
DISCLAIMER This presentation is intended for information purposes only and does not constitute or form part of an offer for sale or subscription or an invitation or solicitation of an offer to subscribe for or purchase securities of any kind and neither this document nor anything contained herein sh
Slide 4: Contents
CONTENTS RAK PROPERTIES PERFORMANCE & TRACK RECORD KEY FINANCIALS OPERATIONAL HIGHLIGHTS SUSTAINABILITY OUTLOOK 2025
Slide 5: RAK Properties
RAK PROPERTIES 4K+ 525 SQFT SQFT U NDER HOTEL K EY S 2Mn 50Mn L A ND BA NK DEVEL OPM ENT VIL L A S & A PA R TM ENTS c . 3 0 5 K EY S IN PR OG R ES S A DDITIONA L L A ND A CQU IR ED IN R A K SQFT +1Mn G R OS S 3K+ COM PL ETED L A ND PA R CEL S IN DU BA I 2 COM PL ETED R ES IDENTIA L PR OJECTS IN L EA
Slide 6: RAK Properties Brand Values
RAK PROPERTIES BRAND VALUES RESPONSIBLE COMMUNITY VALUE DRIVEN SUSTAINABILITY EXCELLENCE & ACCOUNTABLE CENTRIC We are guided by integrity, respect, We aim to foster environments in Our ethos is anchored in adding Sustainability is the cornerstone of We are relentlessly committed to and transparency
Slide 7: Strategy for Growth
STRATEGY FOR GROWTH DEPLOY RAHA ISLAND MASTERPLAN-LED INCREASE RECURRING LAND TO FUEL FUTURE DEVELOPMENT WITH REVENUES THROUGH DEVELOPMENT PROJECTS TIMELY DELIVERY OF RETAIL AND HOSPITALITY AND CONTINUE TO MIXED-USE COMMUNITIES OFFERINGS ACQUIRE NEW LANDBANK FORM STRATEGIC SET HIGH STANDARDS TO ENSU
Slide 8: RAK Properties Diversified Business Model
RAK PROPERTIES DIVERSIFIED BUSINESS MODEL OUR BUSINESS MODEL BUSINESS SEGMENTS* As a leading master developer, our core strategy revolves around transforming prime land into luxurious properties that offer an unparalleled lifestyle. We also generate revenue from leasing and sales of these high-end u
Slide 9: RAK Properties at a Glance
RAK PROPERTIES AT A GLANCE 2005 - 2006 2010 - 2012 2017-2020 2022 - 2023 2024 • RAK Properties was • Granada Villas Community • Raha Island development • Intercontinental RAK Resort • Anantara Mina RAK Resort established in Mina delivered begins in Mina & Spa opened. opened Award winning • The IPO w
Slide 10: RAK Properties Awards
RAK PROPERTIES AWARDS 2023 2024 BAYVIEWS QUATTRO Best Residential Project at the DEL MAR Annual Design Middle East Awards Best mixed-use project at the 2023 Pillars of Real Estate Awards 2024 MUSE Design Award for Mix Use Architectural Designs CEO MIDDLE ANANTARA EAST AWARDS RESORTS & SPA Sameh Muht
Slide 11: YTD 2025 Announcement Highlights
YTD 2025 ANNOUNCEMENT HIGHLIGHTS MINA MIRASOL ANANTARA FOUR SKAI ENTA MASTERPLAN SALES BRANDED SOLERA SEASONS LAUNCH & HIVE UNVEILING LAUNCH RESIDENCES Approved masterplan Resort inspired living on New luxury hospitality Premium apartments on Hayat Island Hayat Island The pulse of Mina’s revealed to
Slide 12: Financial Highlights
A TRUSTED NAME IN RAS AL KHAIMAH’S REAL ESTATE FINANCIAL HIGHLIGHTS
Slide 13: H1 2025 Performance Overview
H1 2025 PERFORMANCE OVERVIEW REVENUE A strong performance in the first half of 2025. MN 775 AED RAK Properties achieve substantial year-over-year growth across key financial metrics. +27% YOY Revenue climbed by 27% to AED 775 million, EBITDA rose by 42% to AED 239 million, and Profit After Tax surge
Slide 14: Financials at a Glance
FINANCIALS AT A GLANCE EBITDA REVENUE SALES SHARE 30 June 2024 vs 30 June 2025 30 June 2024 vs 30 June 2025 VALUE PRICE 30 June 2024 vs 30 June 2025 30 June 2024 vs 30 June 2025 42% 27% 101% 36% AED AED AED AED 775 1411 1.44 AED 239 610 AED Mn 1.06 169 Mn Mn Mn 703 Mn Mn 30-Jun-24 30-Jun-25 30-Jun-2
Slide 15: A New Strategic Track Record
A NEW STRATEGIC TRACK RECORD Revenues in AED Mns An outstanding sales track record for numerous residential projects, including Cape Hayat, Marbella II, Bay residences, Quattro Del Mar, The Edge Substantial investments in residential and hospitality projects, the successful completion of key develop
Slide 16: Expansion of Revenue Streams Beyond Residential Properties
EXPANSION OF REVENUE STREAMS BEYOND RESIDENTIAL PROPERTIES Revenue By Segment in AED Mns 1200 H1 2025 1000 REVENUE 800 1146 GREW BY 831 600 629 27% Y-o-Y 400 460 280 200 61 58 37 57 200 71 116 109 56 0 0 2021 2022 2023 2024 H1 2025 RAK Properties continues to expand its hospitality sector, leveragin
Slide 17: Asset Distribution
ASSET DISTRIBUTION H1 2025 COMPLETED CONSTRUCTION PLANNING GDV (AED Mn) 3,463 3,212 1,893 No. Of Units 3,411 3,057 1,176 Around 1 Million Sq.ft. GLA C. AED 8,290 Mn in Total Assets as of 30 June 2025 as of 30 June 2025 61% 17% 52% 28% 32% 11% Commercial Retail Residential Property Sales Hotel Operat
Slide 18: Solid Balance Sheet Records
SOLID BALANCE SHEET RECORDS In AED Mns 2024 H1 2025 DEBT MATURITY PROFILE* in AED Mns Debt 1,262 1,192 323 350 Cash 463 467 300 Net Debt 799 725 250 Total Equity 5,527 5,701 200 153 163 Total Assets 8,012 8,290 150 136 97 100 2024 H1 2025 50 Net Debt/Equity 14.5% 12.7% 0 Debt/Total Assets 15.8% 14.4
Slide 19: Total Liabilities
TOTAL LIABILITIES Liabilities in AED Mns % 4 2590 2650 2600 2550 2500 2485 2450 2400 2350 RAK Properties is adequately funded through 2300 sufficient advance collections and credit facilities 2024 2025
Slide 20: Income Statement: 2025 Gross Profit Increased
INCOME STATEMENT FY FY FY FY H1 H1 2021 2022 2023 2024 2024 2025 Revenue 515.6 408.2 1004.9 1406.3 610.4 774.8 2025 GROSS (AED M) Gross Profit PROFIT 194.9 140.5 365.2 542.9 241.1 314.3 (AED M) INCREASED EBITDA 220.7 94.2 264.2 375.9 168.9 239.2 (AED M) BY 30% Y-o-Y Net Profit Before Tax 201.5 30.8
Slide 21: Net Profit Before Tax Up by 80% YoY
NET PROFIT BEFORE TAX UP BY 80% YoY GROSS PROFIT in AED MNs NET PROFIT BEFORE TAX in AED MNs 600 350 308 543 300 250 202 202 200 176 500 150 100 400 365 50 31 314 0 2021 2022 2023 2024 H1 2025 300 EBITDA in AED MNs 195 200 450 376 141 264 350 221 239 100 250 150 94 0 50 2021 2022 2023 2024 H1 2025 -
Slide 22: Share Information
SHARE INFORMATION 2021 2022 2023 2024 H1 2025 Market Cap 1,540 1,360 2,280 3,420 4,320 (AED Mns) Share Price 0.77 0.68 1.14 1.14 1.44 (AED/Share) Eps 0.10 0.015 0.101 0.111 0.054 (AED/Share) 5,000 1.44 4,500 4,000 3,500 1.14 1.14 1.1 3,000 2,500 0.77 2,000 0.68 4,320 3,420 0.6 1,500 1,000 2,280 1,54
Slide 23: Financials by Business Segment
FINANCIALS BY BUSINESS SEGMENT Contribution From Recurring Businesses H1 2025 Revenue: 19% | Gross profit: 26% Revenue Share Gross Profit Share 16% 14% 23% 21% 4% 5% H1 2024 H1 2025 H1 2024 3% H1 2025 5% 74% 74% 80% 81% Property Sales Hospitality Asset Management
Slide 24: Robust Hospitality Performance
ROBUST HOSPITALITY PERFORMANCE INTERCONTINENTAL ANANTARA HOSPITALITY H1 2024 H1 2025 H1 2024 H1 2025 Number of Keys 351 351 174 174 Average Daily Rate (ADR, AED) 777 857 1,699 1,464 Occupancy Rate (%) 67% 62% 44% 68% Revenue per available room (RevPAR) (AED) 520 531 744 1,003 Room Revenue (AED Mn) 3
Slide 25: Projects Under Development
PROJECTS UNDER DEVELOPMENT As of 30 June 2025 LAUNCH UNITS UNITS NET SALES REVENUE % % PROJECT LOCATION YEAR LAUNCHED SOLD (AED M) BACKLOG SOLD COMPLETE Bayviews Mina 2023 344 344 421 156 100% 62.8% Bay Residence Phase 1 Mina 2023 331 323 376 3 98% 99.9% Bay Residence Phase 2 Mina 2023 330 326 405 9
Slide 26: Land Bank
LAND BANK TOTAL AREA DEVELOPED UNDER BALANCE LAND DESCRIPTION (SQM) AREA DEVELOPMENT TO DEVELOP Area (Sqm) Area (Sqm) GFA (Sqm) Area (Sqm) GFA (Sqm) Area (Sqm) GFA (Sqm) Mina Land - Land 4,071,995 2,599,583 448,969 756,408 382,951 716,004 941,252 Marjan - Beach District 185,759 - - 185,759 553,300 R
Slide 27: Our Key Landbank
OUR KEY LANDBANK MINA BEACH DISTRICT Primary Destination Land bank acquired in Landbank consideration of RAK Government increase in stake to 34% 4,000,000 sqm land area c.186,000 sqm land area
Slide 28: Investment Proposition
INVESTMENT PROPOSITION TRACK ECONOMIC QUALITY FINANCIAL STRONG NEW LAND PRUDENT RECORD BACKDROP PORTFOLIO PERFORMANCE MANAGEMENT ACQUISITIONS MANAGEMENT Almost 20 years of RAK’s long term growth Covering residential, Q3 2024 results show Highly experienced and New land acquisitions to Prudent manage
Slide 29: ESG - A Pillar of Our Vision & Mission
ESG - A PILLAR OF OUR VISION & MISSION v ENVIRONMENTAL SOCIAL GOVERNANCE COMMITMENT RESPONSIBILITY EXCELLENCE We are dedicated to integrating sustainable practices We focus on improving the well-being of all stakeholders, Our robust governance framework ensures accountability across all development
Slide 30: Strengthening Our Environmental Sustainability Efforts
STRENGTHENING OUR ENVIRONMENTAL SUSTAINABILITY EFFORTS ENERGY EFFICIENCY WATER CONSUMPTION WASTE MANAGEMENT Key measures to optimise water use: Key efforts include the recycling of non-hazardous waste. Key initiatives to reduce carbon footprint • Energy Audits • Water fixture retrofits- waterless ur
Slide 31: Discovery Center: A Closer Look
DISCOVERY CENTER: A CLOSER LOOK The Mina Discovery Center is a community hub dedicated to environmental education and preservation. Located in Mina, it focuses on teaching residents, especially schoolchildren, the importance of mangrove ecosystems and local wildlife. This initiative goes beyond trad
Slide 32: Advancing Our Social Responsibility
ADVANCING OUR SOCIAL RESPONSIBILITY Our People - The Cornerstone Of Our Success v DIVERSITY & INCLUSION HEALTH & SAFETY • RAK Properties cultivates an inclusive work environment. • Commitment to Occupational Health and Safety, evidenced by our ISO 45001:2018 certification. • 250 employees: 30% femal
Slide 33: Commitment to Governance Principles & Best Practices
RAK PROPERTIES' COMMITMENT TO GOVERNANCE PRINCIPLES & BEST PRACTICES v ENSURING ROBUST UPHOLDING ETHICAL KEY BUSINESS RISK MANAGEMENT STANDARDS POLICIES Oversight by the Auditing Committee of Ethics and Our Ethics and Compliance policies guide responsible Whistleblowing Policy business practices. Co
Slide 34: Market Outlook
MARKET OUTLOOK 34
Slide 35: RAK Is the 4th Largest Emirate in Terms of Land Mass
RAK IS THE 4th LARGEST EMIRATE IN TERMS OF LAND MASS • A well-connected emirate, Ras Al Khaimah benefits from connectivity to all major destinations across Europe, Asia, and the Middle East through various airports in the UAE. • With an estimated population of 0.4 million and a GDP of approximately
Slide 36: Positive Macroeconomic Drivers
POSITIVE MACROECONOMIC DRIVERS Fitch Ratings Upgraded Rak’s Issuer Default Ratings (Idrs) To A+ Amid Expectations Of Stronger Growth And Fiscal Management SUBSTANTIAL GOVERNMENT SUPPORT A HISTORY OF FISCAL SURPLUSES IMPROVING MACROECONOMIC MANAGEMENT EXPECTED INCREASE IN PUBLIC REVENUE STRONG FISCAL
Slide 37: Customer Breakdown by Nationality
CUSTOMER BREAKDOWN BY NATIONALITY UAE, 21% RAK Properties enjoys a diverse buyer base with customers drawn from 121 countries. Others, 26% India, 9% France, 1% Italy, 2% Netherland, 2% Syria, 2% UK, 7% Israel, 2% Pakistan, 2% Egypt, 2% Lebanon, 6% Canada, 3% Jordan, 3% USA, 3% Russia & CIS, 6% Germa
Slide 38: Appendix
APPENDIX
Slide 39: Mina Master Development in Ras Al Khaimah
MINA MASTER DEVELOPMENT IN RAS AL KHAIMAH RESIDENTIAL, COMMERCIAL, AND HOSPITALITY
Slide 40: INSERT TITLE HERE
0 1. G R A N A D A I V IL L A S 0 9 . MARBELLA VILLAS 17 . BAY VIEWS 2 5 . G A T E W A Y I R E S ID E N C E S 0 2 . G R A N A D A II V IL L A S 10 . G A T E W A Y II R E S ID E N C E S 18 . CAPE HAYAT 26. EDGE 0 3 . LA GO O N M A R IN A 11. E N T A 19 . PORTO PLAYA 27. SKAI 0 4 . RETAIL PLA ZA 12 .
Slide 41: Hayat Island
MARBELLA BAY INTECONTIENTAL VILLAS GATEWAY II RESIDENCES RESORT & SPA BAYVIEWS CAPE ENTA PORTO HAYAT PLAYA NB COLLECTION INSERT TITLE HERE NIKKI BEACH RESORT & SPA QUATTRO DEL MAR ANANTARA VILLAS ANANTARA APARTMENTS Hayat Island Residential, Commercial, and Hospitality (within Mina, RAK)
Slide 42: Hayat Island
HAYAT ISLAND PROJECT TYPE UNITS NB Collection Villas 11 Units Quattro Del Mar Apartments 888 Units Cape Hayat Apartments 678 Units Porto Playa Apartments 269 Units Bay Views Apartments 344 Units Bay Residences Apartments 661 Units Gateway II Residences Apartments 146 Units Intercontinental Hotel 351
Slide 43: Raha Island
MARINA BERMUDA VILLAS FOUR SEASONS GATEWAY I SOLERA MIRASOL MINA HARBOUR EDGE SKAI Raha Island Residential, Commercial, and Hospitality (within Mina, RAK)
Slide 44: Raha Island
RAHA ISLAND PROJECT TYPE UNITS Bermuda Villas/Townhouses 157 Units Gateway I Residences Apartments 144 Units Edge Apartments 237 units Mirasol Apartments 339 Units SKAI Apartments 227 Units Solera Apartments 451 Units
Slide 45: INSERT TITLE HERE
INSERT TITLE HERE ANANTARA RESORT MALIBU FLAMINGO VILLAS GRANADA LAGOON MARINA RETAIL PLAZA
Slide 46: Lagoons
LAGOONS PROJECT TYPE UNITS Granada I Villas/Townhouses 93 Units Malibu Villas Villas/Townhouses 213 Units Flamingo Villas Villas/Townhouses 192 Units Anantara Resort Hotel 174 Keys Lagoon Walk 20 Towers 800 Units Granada II Villas 80 Units
Slide 47: Others
OTHERS PROJECT TYPE UNITS Julphar Tower RAK Apartment/Offices/Retail 884 Units RAK Tower Apartments 212 Units (Abu Dhabi ) Julphar Residence Apartments 266 Units (Abu Dhabi)
Slide 48: Enhancing Lives & Places
ENHANCING LIVES & PLACES rakproperties.ae