Rak Properties · ADX:RAKPROP
Rak Properties — Investor Presentation (July 2024)
35 slides from Rak Properties's investor presentation, July 2024
Slide 1: Investor Presentation
INVESTOR PRESENTATION Enhancing Lives, Enhancing Value rakproperties.ae Q1 2024
Slide 2: 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 3: Message from our Chief Executive Officer
MESSAGE FROM OUR CHIEF EXECUTIVE OFFICER We had an exceptional 2023 year, as we reported outstanding success yielding unprecedented financial results, with revenues surging to AED 1004.89 million and net profits reaching AED 201.82 million. I am proud to report that we have maintained our strong per
Slide 4: RAK Properties at a Glance
RAK PROPERTIES AT A GLANCE Listed on ADX in 2005. Focus on creating mixed-use Two key destinations in RAK Major contributor to delivery of Current market capitalisation community developments, with additional developments RAK Vision 2030 and plays a of c. AED 2.56 billion strategically placed retail
Slide 5: Quality Destinations
QUALITY DESTINATIONS Various airports in the UAE offer Ras Al Khaimah connectivity to all major destinations across Europe, Asia and the Middle East SHARJAH RAS AL KHAIMAH Sharjah International Airport RAK International Airport 35 minutes 15 minutes DUBAI Dubai International Airport 45 minutes ABU D
Slide 6: Diverse Portfolio
DIVERSE PORTFOLIO RESIDENTIAL, COMMERCIAL, AND HOSPITALITY HAYAT ISLAND BAY RESIDENCES CAPE NIKKI BEACH HAYAT RESORT & SPA INTECONTIENTAL RESORT RAHA ISLAND PORTO PLAYA ANANTARA RESORT BAYVIEWS QUATTRO DEL MAR BERMUDA MARBELLA VILLAS FLAMINGO VILLAS GRANADA GATEWAY I GATEWAY II LAGOONS MALIBU 6
Slide 7: Hayat Island
HAYAT ISLAND RESIDENTIAL, COMMERCIAL, AND HOSPITALITY MARBELLA I VILLAS GATEWAY II STAY BRIDGE MARBELLA II SUITES VILLAS RESIDENCES INTECONTINENTAL RAS AL KHAIMAH BAY RESORT & SPA RESIDENCES BAY VIEWS AND NASIM CAPE HAYAT LOFTS QUATTRO PORTO DEL MAR PLAYA NIKKI BEACH ANGEL BAY ` RESORT & SPA BRANDED
Slide 8: Nature Focused
NATURE FOCUSED ` NATURE’S WONDER MANGROVES WILDLIFE Residents and visitors can immerse We take pride in our lush mangroves, the Here, shores become nurseries for themselves in the heart of nature where a vital green sanctuaries that cradle our diverse nesting turtles, waters dance with rich tapestry
Slide 9: Sustainability at a Glance
SUSTAINABILITY AT A GLANCE FOCUS AREAS ACTIONS WASTE • Promote recycling activity and diversion rates • Installation of recycling methods and tools WAS TE ENERGY WATER MATERIALS ENERGY MANAGEMENT MANAGEMENT MANAGEMENT MANAGEMENT • Implement ESCO contracts • Compliance with UAE energy ratings • Maxim
Slide 10: Financials at a Glance
FINANCIALS AT A GLANCE A trusted name in Ras Al Khaimah's real estate 27% 12% 373 Mn 113% I N C R E A S E I N I N C R E A S E I N I N S A L E S A N N U A L E B I T D A R E V E N U E V A L U E I N C R E A S E I N Q1 2024 VS Q1 2023 Q1 2024 VS Q1 2023 S H A R E P R I C E 10
Slide 11: Q1 2024 Results - Summary
Q1 2024 RESULTS - SUMMARY ACTUAL ACTUAL CHANGE INCOME STATEMENT AED ‘000 % AED '000 Q1 2024 Q1 2023 24 V 23 400 Revenue 289,810 258,582 31,228 12% 290 300 259 Gross Profit 106,482 82,898 23,584 28% 200 106 83 83 EBITBA 83,270 65,699 17,571 27% 100 66 46 45 0 Profit before TAX 45,541 44,595 946 2% Re
Slide 12: Revenue Analysis
REVENUE ANALYSIS ACTUAL ACTUAL CHANGE AED ‘000 % Q1 2024 Q1 2023 24 V 23 Revenue 227,888 214,586 13,302 6% Leasing 7,705 7,625 440 6% Hospitality 47,573 30,211 17,362 57% Other Revenue 6,644 6,520 124 2% Total Revenue 289,810 258,582 31,228 12% 12
Slide 13: Q1 2024 Highlights
Q1 2024 HIGHLIGHTS GOVERNMENT OPENING OF ORGANIZATION SHAREHOLDING ANANTARA STRUCTURE RESORT In response to our rapid expansion, we've updated Government of Ras Al Khaimah increased our reporting structures, roles and responsibilities in shareholding in RAK Properties from 5% to 34% (pending regulat
Slide 14: Hospitality
HOSPITALITY INTERCONTINENTAL RAS AL ANANTARA KHAIMAH RESORT & SPA RESORT & SPA * NUMBER OF KEY S OCCUPANCY (Q1 2024) NUMBER OF KEY S OCCUPANCY (Q1 2024) 351 67% 174 35% COMPLETION AVERAGE DAILY RATE (Q1 2024) COMPLETION AVERAGE DAILY RATE (Q1 2024) 2022 AED 816 2024 AED 1,695 • Date of Opening 02 Ja
Slide 15: Share Information
SHARE INFORMATION 1 April 2023 to 31 March 2024 Share Price 1.60 1.40 1.20 1.25 1.00 0.80 0.60 0.59 0.40 0.20 0.00 Apr-2023 Jun-2023 Aug-2023 Oct-2023 Dec-2023 Feb-2024 Apr-2024 15
Slide 16: Outlook
OUTLOOK mi aii RAK PROPERTIES | Zi aiis
Slide 17: Fully Funded Growth Strategy
FULLY FUNDED GROWTH STRATEGY AED ‘000 31-Mar-24 31-Dec-23 AED ‘000 31-Mar-24 31-Dec-23 Funds from Operations 74,548 59,076 Net Debt / Equity 21% 18% Banking Facilities Net Debt / EBITDA * 3x 3x Overdraft 504,110 349,960 EBITDA / Interest 4x 4x Term Loan 866,185 883,150 * Annualised Total Financial D
Slide 18: Development Pipeline
DEVELOPMENT PIPELINE UNDER DEVELOPMENT AS AT 31st March TOTAL AS AT 31 March 2024 REVENUE PROJECT LOCATION LAUNCH YEAR UNITS UNITS NET SALES % COMPLETE BACKLOG % SOLD LAUNCHED SOLD (AED MN) (AED MN) Gateway Residence 2 Mina Al Arab Jan-22 146 146 164 57 100% 65% Bay Residences Mina Al Arab 2022 - 20
Slide 19: Diversified Business Model
DIVERSIFIED BUSINESS MODEL DEVELOPMENT SALES LEASING HOSPITALITY PARTNERSHIPS A pproximately 1 million sq. ft. Approximately 50 million sq. ft. land bank 525 keys in operation, with 316 keys in progress Gross Leasable Area across key strategic locations in UAE. Additional c. 2 million sq. ft. under
Slide 20: Strategy for Growth
STRATEGY FOR GROWTH Masterplan-led development, with timely Masterplan-led development, with timely Increase recurring revenues through retail delivery of mixed-use communities delivery of mixed-use communities and hospitality offerings. Pursue strategic partnerships with renowned Prudent management
Slide 21: Demographics
DEMOGRAPHICS Customer profile since inception based on nationality. Emarati 28% Others 35% Indian 8% Pakistani 2% Canadian 2% Russian USA 7% 2% Syrian 3% Jordanian Lebanese British 3% 5% 5% 21
Slide 22: Investment Proposition
INVESTMENT PROPOSITION TRACK ECONOMIC QUALITY FINANCIAL S TRONG NEW LAND PRUDENT RECORD BACKDROP PORTFOLIO PERFORMANCE MANAGEMENT ACQUIS ITIONS MANAGEMENT FY2023 results show Highly experienced New land Prudent Almost 20 years of acquisitions to fuel management of RAK’s long term Covering residentia
Slide 23: Positive Macro – Economic Drivers
POSITIVE MACRO – ECONOMIC DRIVERS DIVERSE COMMERCIAL TRANSPORT BOOMING ECONOMY HERITAGE LINKS TOURISM RAK’s economy is one of the most RAK is home to some of the best RAK is only 45 minutes’ drive from RAK’s tourism industry is set for a diverse in the GCC, with no single known and most successful D
Slide 24: Positive Macro – Economic Drivers
POSITIVE MACRO – ECONOMIC DRIVERS RAK HISTORIC & FORECAST GDP RAK VISITOR NUMBERS (GDP growth averaged 2.6% 2012-2021) 4.00% 5200.00% 4.00% 3.5 4400.00% 60 16 3.30% 4.00% 3.80% 3.50% 15 4.50% 3 13.9 3 4200.00% 12.5 13.1 4.00% 50 12 10.9 3.50% 2.5 12 40 3.00% 2 2.50% 8 30 2.00% 1.5 1.22 1 1.50% 0.99
Slide 25: Why Invest in Ras Al Khaimah
WHY INVEST IN RAS AL KHAIMAH 100% Foreign Ownership, 0-9% Corporate Tax, and Long-Term Residency Through Investment are just some of the reasons why investing in Ras Al Khaimah is so attractive POLITICAL AND GEOGRAPHIC FAVOURABLE MODERN ECONOMIC ADVANTAGES BUSINESS INFRASTRUCTURE STABILITY ENVIRONME
Slide 26: Appendix
APPENDIX
Slide 27: 44 Million SQFT
W E L C O M E TO 01. GR AN AD A I VI LLAS 09. MA R B E L L A I V IL LA S 17. P O R TO P L A Y A 0 2 . G R A N A D A II V I L L A S 10. MA R B E L L A II V IL LA S 18. N I K K I BE A CH RE SO RT A ND 0 3 . L A G O O N MA R I N A 11. G A TE W A Y I I RES IDE NCE S SPA 0 4 . RETAIL P L A Z A 12. I N TE
Slide 28: Hayat Island
HAYAT ISLAND RESIDENTIAL, COMMERCIAL, AND HOSPITALITY BAY RESIDENCES CAPE NIKKI BEACH HAYAT RESORT & SPA INTECONTIENTAL RAS AL KHAIMAH PORTO RESORT & SPA PLAYA BAYVIEWS QUATTRO DEL MAR MARBELLA VILLAS GATEWAY II 28
Slide 29: Hayat Island
HAYAT ISLAND PROJECT TYPE 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 Keys MARBELLA VILLAS Villas /
Slide 30: Raha Island
RAHA ISLAND RESIDENTIALS BERMUDA GATEWAY I 30
Slide 31: Raha Island
RAHA ISLAND PROJECT TYPE UNITS BERMUDA Villas/Townhouses 157 Units GATEWAY I RESIDENCES Apartments 144 Units 31
Slide 32: Lagoons
LAGOONS RESIDENTIAL, COMMERCIAL, AND HOSPITALITY ANANTARA MINA AL ARAB RAS AL KHAIMAH RESORT FLAMINGO GRANADA VILLAS I LAGOON VILLAS II WALK MALIBU VILLAS FLAMINGO VILLAS I RETAIL PLAZA 32
Slide 33: Lagoons
LAGOONS PROJECT TYPE UNITS GRANADA VILLAS 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 33
Slide 34: 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) 34
Slide 35: Thank You
THANK YOU