RAK Properties is a real estate development and investment company founded by the Ras Al Khaimah government in February 2005. The company raised AED1.11 billion (USD302 million), when it sold 55% of its equity in March 2005 and listed on the Abu Dhabi Securities MarketAbu Dhabi Securities Market in October 2005.

With a land bank of 6.8 million sq. m (73 million sq. ft.) in the UAE as of December 2008, RAK Properties is developing projects amounting to AED13 billion (USD3.5 billion).

The company’s flagship project, Mina Al Arab is a 4 million sq. m (43 million sq. ft.) mixed-use development set alongside 13 km (13,000 m) of coastline. The company broke ground on the AED10 billion (USD2.7 billion) project in May 2005 and is expected to complete the first phase by 2009.

RAK Properties expanded beyond the UAE in August 2006, when it entered into a joint venture with the India-based Polo Amusement Park Limited. The deal resulted in the creation of the Polo RAK Amusements Company.

Additionally, RAK Properties has an extensive development portfolio - both domestically and internationally. The company expects that its expansion into these and additional markets will increase and enhance its shareholder returns.