Ras Al Khaimah (Emirate of) agreed to acquire an additional minority stake in RAK Properties PJSC (ADX:RAKPROP) on July 8, 2024. Following the March AGM where the Government, subject to ADX approval, expressed confidence in RAK Properties to expand their stake, the company has now moved forward with the strategic government partnership which will see their stake in the company increase to 34%, following SCA approval. This is a direct result of the significant growth in revenue and net profit experienced in 2023 and a solid Q1 2024 performance for RAK Properties, signaling a vigorous demand for its property and hospitality ventures.