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RAK Properties said construction is progressing on more than 3,000 units across developments, with more than 800 handovers planned in 2025.
Work on projects, such as Bay Residences, Granada II, and Cape Hayat, is progressing steadily, the developer said in a statement to the Abu Dhabi stock exchange.
Projects, including Bay Views, Edge and Quattro Del Mar, are advancing through key construction phases with major contracts awarded and site works underway, the statement said.
The developer has a backlog of 2.33 billion UAE dirhams ($634.37 million) as of March 31, 2025. It offers a clear forward revenue visibility.
Revenue rose 28 percent year-on-year to AED 370 million, while net profit before tax rose 64 percent to AED 74 million in the first quarter of 2025, the statement said.
(Writing by P Deol; Editing by Anoop Menon)
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