Sameh Al Muhtadi was appointed CEO in August 2022. Established in 2005, RAK Properties specializes in mixed-use community developments, retail, health spas, and hotels. It has developed over 3,000 residential units, 35,000 square meters of office space, and 25,000 square meters of retail. The company’s portfolio includes the Julfar Residence on Al Reem Island, Mina Al Arab, and RAK Tower. It owns subsidiaries in the U.A.E., Türkiye, and Tanzania. In the first nine months of 2023, it generated $186.7 million in revenues and had total assets worth $1.7 billion. It had a market cap of $560.9 million as of November 14, 2023.