Leading property development firm RAK Properties PJSC has announced record half-year results, with revenues exceeding 211 million dirhams ($57.4 million). The reported half-year figures reveal an increase from 39 million dirhams to 62 million dirhams in net profits from January to June — an increase of 59 percent compared to the same period last year.
The firm, which is listed on the Abu Dhabi Stock Exchange, currently boasts total assets valued at 5.11 billion dirhams, a significant increase on the 4.99 billion dirhams recorded at the end of last year.
Managing Director and CEO Mohammed Sultan Al-Qadi said: “Our half-year results serve as proof that, with unwavering support from investors for our developments across the UAE, RAK Properties continues to go from strength to strength. Having already completed several key projects and accomplished various operational achievements, we look forward to the remainder of 2017.”
RAK Properties attributes its outstanding half-year results to strong off-plans sales backed by marketing support.
The property developer is expected to announce additional residential, hospitality and retail projects to further its growth this year.
The firm, which is listed on the Abu Dhabi Stock Exchange, currently boasts total assets valued at 5.11 billion dirhams, a significant increase on the 4.99 billion dirhams recorded at the end of last year.
Managing Director and CEO Mohammed Sultan Al-Qadi said: “Our half-year results serve as proof that, with unwavering support from investors for our developments across the UAE, RAK Properties continues to go from strength to strength. Having already completed several key projects and accomplished various operational achievements, we look forward to the remainder of 2017.”
RAK Properties attributes its outstanding half-year results to strong off-plans sales backed by marketing support.
The property developer is expected to announce additional residential, hospitality and retail projects to further its growth this year.
