Principal Activities
Real estate property investment, development and management.
Date of Establishment Year
2005 (February)
No of Employees
N/A (100 Company, N/A Group, N/A Headquarters) (As of Sep 09, 2011)
|
Listing Date:
30Oct05
Size of Offering:
$302.49M
Equity Offering:
55%
Lead
Managers:
Investment and Development Office (Government of Ras Al Khaimah)
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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. 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.
Major Shareholders  |
Section Updated: 23Dec11
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|
|
|
|
|
|
Government of Ras Al Khaimah
|
Government |
UAE |
45.00% |
|
Public
|
|
- |
55.00% |
71%
Nationals
12%
GCC Nationals
11%
Other Arabs
5%
Foreigners
49%
GCC Nationals
49%
Foreigners
|
| Direct Investments and Related Entities |
| Subsidiaries/Associates/Affiliates |
|
|
|
|
| Dolphin Marina Limited [via RAK Properties Tanzania Limited] |
Tanzania |
100.00% |
| RAK Properties International Limited |
UAE |
100.00% |
| RAK Properties Tanzania Limited [via RAK Properties International Limited] |
Tanzania |
100.00% |
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| Investments |
|
|
| Investment Properties |
|
|
|
|
| RAK Towers [in Al Reem Island] |
UAE |
- |
|
| Developments and Projects |
|
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Auditors
| Deloitte and Touche Middle East |
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Banks
| Commercial Bank International |
Mashreqbank |
| Union National Bank |
National Bank of Abu Dhabi |
| National Bank of Ras Al Khaimah |
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Law Firms
| Financial Results |
31-Dec-09 |
31-Dec-10 |
Yr on Yr |
| |
AED'000 |
AED'000 |
change (%) |
Total revenues  |
187,395
|
383,420
|
104.61 |
| Net profit |
170,085
|
187,349
|
10.15 |
| Total assets |
4,932,994
|
4,994,609
|
1.25 |
| Paid-up capital |
2,000,000
|
2,000,000
|
0.00 |
| Shareholders' Equity |
3,143,454
|
3,330,803
|
5.96 |
| Shares outstanding |
2,000,000
|
2,000,000
|
0.00 |
| Market capitalization |
|
880,000
|
N/A |
| » View Full Financials |
|
+ 3.03%
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