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Mohammed Sultan Al Qadi

RAK Properties posts 59pc jump in H1 net profit

RAS AL KHAIMAH, July 30, 2017

RAK Properties, a leading property development firm in the UAE, reported a net profit of Dh62 million ($16.88 million) for the first half (H1) of this year, an increase of 59 per cent compared to the same period last year.

The company posted a revenue of Dh211 million ($57.44 million) for H1 2017.

The firm, which is listed on the Abu Dhabi Stock Exchange, currently has total assets valued at Dh5.11 billion ($1.39 billion), a significant increase on the Dh4.99 billion ($1.36 billion) recorded at the end of last year, it said.

RAK Properties managing director and CEO Mohammed Sultan Al Qadi said the results prove that RAK Properties continues to go from strength to strength.

RAK Properties attributes its outstanding half-year results to strong off-plans sales backed by exceptional marketing support. -TradeArabia News service

Tags: UAE | property | RAK Properties |

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