RAK Properties has entered into a strategic financial partnership with the Commercial Bank of Dubai (CBD), securing a long-term funding facility worth AED 2 billion ($544.5 million). This major financing arrangement aims to support RAK Properties’ ambitious expansion, strengthen its financial flexibility, and promote eco-conscious developments across the region.
Fueling Future Projects and Green Development
The newly secured funding will be directed toward various high-profile projects, including luxury hotels and residential communities within the Mina Al Arab development in Ras Al Khaimah. In addition to providing the company with the resources to fuel ongoing construction, the financing will also ensure liquidity for future projects aligned with sustainable growth goals.
This collaboration reflects CBD’s confidence in RAK Properties’ strategic vision and solidifies the company’s position in the booming real estate sector in Ras Al Khaimah.
A Partnership for Growth
Sameh Muhtadi, CEO of RAK Properties, described the agreement with CBD as a key milestone in their mission to establish Ras Al Khaimah as a leading destination for luxury living. “This facility strengthens our financial capabilities, allowing us to continue building value for stakeholders while advancing the emirate’s economic progress. The relationship we have with CBD plays an instrumental role in achieving our long-term vision for Mina Al Arab and beyond,” he said.
Financial Flexibility for Large-Scale Projects
RAK Properties’ CFO, Rahul Jogani, emphasized the importance of the financing facility in maintaining operational agility. He highlighted that the long-term access to capital allows the company to meet evolving project demands promptly and efficiently, while seizing emerging growth opportunities without straining resources. This financial flexibility ensures that large-scale projects like Mina Al Arab can continue to develop sustainably and on schedule.
Supporting Local Ambitions and Economic Growth
Dr. Bernd van Linder, CEO of Commercial Bank of Dubai, expressed pride in CBD’s involvement in supporting RAK Properties and its contribution to local economic development. “Our partnership demonstrates our commitment to empowering local businesses and driving key development initiatives that align with the UAE’s broader growth strategy. We look forward to seeing Mina Al Arab flourish as a model for luxury living and sustainability,” he remarked.
With this financing partnership, RAK Properties is well-positioned to continue its expansion, delivering high-quality residential and hospitality offerings while advancing its commitment to environmental stewardship. As Ras Al Khaimah grows in prominence as an attractive destination for luxury investment, the collaboration between RAK Properties and CBD will undoubtedly shape the future of the emirate’s real estate landscape.
