RAK Properties

Ticker/ISIN
RAKPROP
AER000601016
Market/Country
Abu Dhabi Stock Exchange
United Arab Emirates
Latest Stock Price
1.35 AED
2024-02-21

Year to date

0.15 %

3 months

0.00 %

6 months

0.00 %

1 year

0.00 %

3 years

0.00 %

5 years

0.00 %

Latest Pressrelease Summaries

RAK Properties
RAK Properties held its Board of Directors Meeting No. 4/2024 on July 15, 2024, at 1:00 PM at the company premises in Ras Al Khaimah, using Microsoft Teams. The meeting covered the usual administrative matters of the company.
RAK Properties
RAK Properties held its Board of Directors Meeting No. 4/2024 on July 15, 2024, at 1:00 PM at the company premises in Ras Al Khaimah, with some participants joining via Microsoft Teams. During the meeting, usual administrative matters were discussed.
RAK Properties
The government has increased its stake in RAK Properties by 34%, following approvals from ADX and SCA. This decision stems from RAK Properties' significant revenue and profit growth in 2023 and strong performance in Q1 2024. The increased stake reflects the government's confidence in RAK Properties' commitment to developing lifestyle destinations, including flagship projects like Mina Al Arab, Hayat Island, and Raha Island. Abdulaziz Abdullah Al Zaabi, Chairman of RAK Properties, stated that this strategic investment will provide resources for growth and innovation, reinforcing their commitment to luxury living and transformative projects in Ras Al Khaimah.
RAK Properties
RAK Properties has launched the NB Collection, a series of high-end beachfront villas on Hayat Island, Mina Al Arab, Ras Al Khaimah. These villas are located near Angel Bay and the Nikki Beach Resort and Spa, offering direct access to beaches, marinas, and hotels. The collection consists of 11 contemporary villas designed with spacious living areas, open-plan layouts, and panoramic views of the Arabian Gulf. Each villa spans three levels and includes a private swimming pool, balconies, and a rooftop sun terrace with provisions for an additional plunge pool.
RAK Properties
RAK Properties has announced an amendment to its Articles of Association following a resolution from its AGM on March 20, 2024. The amendment involves the distribution of bonus shares amounting to 4% of the company's capital, valued at AED 80 million, and an increase in the company's capital by AED 920 million for the benefit of the government of Ras Al-Khaimah as a strategic partner. The Securities and Commodities Authority (SCA) has approved this amendment. Before the amendment, the company's issued capital was two billion dirhams divided into two billion shares. After the amendment, the issued capital is three billion dirhams divided into three billion shares, all fully paid in cash, and equal in rights and obligations.
RAK Properties
RAK Properties has communicated to the Abu Dhabi Securities Exchange about an amendment to its Articles of Association. Following a resolution passed at the company's AGM on March 20, 2024, which approved the distribution of bonus shares and an increase in the company's capital, RAK Properties received approval from the Securities and Commodities Authority (SCA) to amend Article 6. The amendment changes the company's issued capital from two billion dirhams to three billion dirhams, divided into three billion shares, each valued at one dirham. The shares are fully paid in cash and are of the same class with equal rights and obligations.
RAK Properties
RAK Properties has unveiled plans for Raha Island, a luxury island community in Mina Al Arab, Ras Al Khaimah. The development will feature high-end hotels, branded residences, exclusive beach, marina and yacht club, 5-star restaurants, cafés, wellness centers, retail, and leisure facilities. The project aims to offer an unparalleled lifestyle experience with a focus on sustainability and community spirit, aligning with the RAK Vision 2030. Raha Island will include over 2.5 kilometers of public beaches and marinas, and will provide complimentary water transit for seamless connectivity within Mina Al Arab and to other Emirates.
RAK Properties
RAK Properties, a leading property developer in Ras Al Khaimah, reported a 12% increase in revenue to AED 289.91 million in Q1 2024, compared to the same period the previous year. This growth was driven by strong sales for new project launches in Mina Al Arab. The government of Ras Al Khaimah has increased its stake in the company from 5% to around 34%, reflecting its confidence in the firm. The first quarter of 2024 also saw the opening of the 5-star Anantara Mina Al Arab Hotel and Resort. The company's profit before tax grew to AED 45.54 million and total assets reached AED 6.68 billion.

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Abu Dhabi Stock Exchange News

Abu Dhabi Stock Exchange News

News Update From RAK Properties

Disclosures: RAK Properties Board Meeting Results held on 15/07/2024 at 19:00

RAK Properties held its Board of Directors Meeting No. 4/2024 on July 15, 2024, at 1:00 PM at the company premises in Ras Al Khaimah, using Microsoft Teams. The meeting covered the usual administrative matters of the company.

1. Attached Document

Abu Dhabi Stock Exchange News

Abu Dhabi Stock Exchange News

News Update From RAK Properties

Disclosures: RAK Properties Board Meeting Results held on 15/07/2024 at 19:00

RAK Properties held its Board of Directors Meeting No. 4/2024 on July 15, 2024, at 1:00 PM at the company premises in Ras Al Khaimah, with some participants joining via Microsoft Teams. During the meeting, usual administrative matters were discussed.

1. Attached Document

Abu Dhabi Stock Exchange News

Abu Dhabi Stock Exchange News

News Update From RAK Properties

Disclosures: RAK Properties Announcement of Board Meeting to be held on 15/07/2024 at 13:00

1. Attached Document

Abu Dhabi Stock Exchange News

Abu Dhabi Stock Exchange News

News Update From RAK Properties

Disclosures: RAK Properties - Government increases stake in RAK Properties by 34%

The government has increased its stake in RAK Properties by 34%, following approvals from ADX and SCA. This decision stems from RAK Properties' significant revenue and profit growth in 2023 and strong performance in Q1 2024. The increased stake reflects the government's confidence in RAK Properties' commitment to developing lifestyle destinations, including flagship projects like Mina Al Arab, Hayat Island, and Raha Island. Abdulaziz Abdullah Al Zaabi, Chairman of RAK Properties, stated that this strategic investment will provide resources for growth and innovation, reinforcing their commitment to luxury living and transformative projects in Ras Al Khaimah.

1. Attached Document

Abu Dhabi Stock Exchange News

Abu Dhabi Stock Exchange News

News Update From RAK Properties

Disclosures: RAK Properties Launches Exclusive Beachfront Villas on Hayat Island, Ras Al Khaimah

RAK Properties has launched the NB Collection, a series of high-end beachfront villas on Hayat Island, Mina Al Arab, Ras Al Khaimah. These villas are located near Angel Bay and the Nikki Beach Resort and Spa, offering direct access to beaches, marinas, and hotels. The collection consists of 11 contemporary villas designed with spacious living areas, open-plan layouts, and panoramic views of the Arabian Gulf. Each villa spans three levels and includes a private swimming pool, balconies, and a rooftop sun terrace with provisions for an additional plunge pool.

1. Attached Document

Abu Dhabi Stock Exchange News

Abu Dhabi Stock Exchange News

News Update From RAK Properties

Disclosures: RAK Properties - Approval of the SCA regarding amending the Article of Association of RAK Properties Company

RAK Properties has announced an amendment to its Articles of Association following a resolution from its AGM on March 20, 2024. The amendment involves the distribution of bonus shares amounting to 4% of the company's capital, valued at AED 80 million, and an increase in the company's capital by AED 920 million for the benefit of the government of Ras Al-Khaimah as a strategic partner. The Securities and Commodities Authority (SCA) has approved this amendment. Before the amendment, the company's issued capital was two billion dirhams divided into two billion shares. After the amendment, the issued capital is three billion dirhams divided into three billion shares, all fully paid in cash, and equal in rights and obligations.

1. Attached Document

Abu Dhabi Stock Exchange News

Abu Dhabi Stock Exchange News

News Update From RAK Properties

Disclosures: RAK Properties Announcements

RAK Properties has communicated to the Abu Dhabi Securities Exchange about an amendment to its Articles of Association. Following a resolution passed at the company's AGM on March 20, 2024, which approved the distribution of bonus shares and an increase in the company's capital, RAK Properties received approval from the Securities and Commodities Authority (SCA) to amend Article 6. The amendment changes the company's issued capital from two billion dirhams to three billion dirhams, divided into three billion shares, each valued at one dirham. The shares are fully paid in cash and are of the same class with equal rights and obligations.

1. Attached Document

Abu Dhabi Stock Exchange News

Abu Dhabi Stock Exchange News

News Update From RAK Properties

Disclosures: RAK Properties unveils ‘EDGE’, a yacht-inspired waterfront residential tower on Raha Island at Mina Al Arab

1. Attached Document

Abu Dhabi Stock Exchange News

Abu Dhabi Stock Exchange News

News Update From RAK Properties

Disclosures: RAK Properties . Raha Island by RAK Properties: A Luxury Island Destination in Mina Al Arab

RAK Properties has unveiled plans for Raha Island, a luxury island community in Mina Al Arab, Ras Al Khaimah. The development will feature high-end hotels, branded residences, exclusive beach, marina and yacht club, 5-star restaurants, cafés, wellness centers, retail, and leisure facilities. The project aims to offer an unparalleled lifestyle experience with a focus on sustainability and community spirit, aligning with the RAK Vision 2030. Raha Island will include over 2.5 kilometers of public beaches and marinas, and will provide complimentary water transit for seamless connectivity within Mina Al Arab and to other Emirates.

1. Attached Document

Abu Dhabi Stock Exchange News

Abu Dhabi Stock Exchange News

News Update From RAK Properties

Disclosures: RAK Properties reports substantial revenue growth in Q1 2024 amid strong sales

RAK Properties, a leading property developer in Ras Al Khaimah, reported a 12% increase in revenue to AED 289.91 million in Q1 2024, compared to the same period the previous year. This growth was driven by strong sales for new project launches in Mina Al Arab. The government of Ras Al Khaimah has increased its stake in the company from 5% to around 34%, reflecting its confidence in the firm. The first quarter of 2024 also saw the opening of the 5-star Anantara Mina Al Arab Hotel and Resort. The company's profit before tax grew to AED 45.54 million and total assets reached AED 6.68 billion.

1. Attached Document

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