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199 micro rental homes proposed for Park Royal mall in West Vancouver
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RAK Properties Net Profit Rises 348% To AED120 Million In H1 2021
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Mina Al Arab is the company s flagship Dh10 billion development consisting of a pair of islands off the Ras Al Khaimah coast. A pair of new resort hotels – a 350-room Intercontinental and a 306-room Anantara property will open this year and next, respectively, the developer said.
This will improve the overall revenue stream by providing recurring income once opened.
The company expects to hand over the Marbella Villas project at Mina Al Arab containing 205 villas and townhouses, including some waterfront properties, this year. Its Julphar Residence project containing 266 apartments on Abu Dhabi s Reem Island is also due for handover in 2021, the company said.
RAK Properties posts 22.5 surge in profit issacjohn@khaleejtimes.com Filed on February 21, 2021
Mina Al Arab community, a waterfront community continued to lure in investors and end-users who looked for a safe haven, highest safety and security measures were in place in response to the guidelines put forward by the concerned authorities.
The developer said in a statement on Sunday that the value of its assets surged to Dh5.8 billion in 2020 from Dh5.6 billion
RAK Properties recorded a 22.5 per cent growth in net profit to Dh114 million in 2020 compared to Dh93 million in 2019.
The developer said in a statement on Sunday that the value of its assets surged to Dh5.8 billion in 2020 from Dh5.6 billion as revenue increased by 25 per cent to Dh243 million in 2020 from Dh195 million in 2019.
(MENAFN - Khaleej Times) RAK Properties recorded a 22.5 per cent growth in net profit to Dh114 million in 2020 compared to Dh93 million in 2019.
The developer said in a statement on Sunday that the value of its assets surged to Dh5.8 billion in 2020 from Dh5.6 billion as revenue increased by 25 per cent to Dh243 million in 2020 from Dh195 million in 2019.
Mohammed Sultan Al Qadi, managing director of RAK Properties, said the company s performance in 2020 reflected its ability to deal with challenges during these exceptional pandemic circumstances which cast a shadow over all sectors and affected it directly and indirectly. Despite the challenges, RAK Properties announced initiatives that align with the government s efforts to support all the investors and stakeholders in the long term, said Al Qadi.
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