RAK Properties profits jump 433% to Dh64.14m reporters@khaleejtimes.com Filed on May 3, 2021
RAK Properties revenues grew by 244 per cent to reach Dh124.3 million in the first quarter of 2021
RAK Properties has announced that its profits have increased by 433 per cent during the first quarter of 2021.
The company has recorded a profit total of Dh64.14 million, compared to Dh12.04 million for the same period in 2020. The increase reflects the success of RAK Properties’ strategy in overcoming the challenges resulting from the exceptional circumstances faced the world over, and transforming them into opportunities that benefit both investors and shareholders.
The company has also recorded a rise in the value of assets by 2.9 per cent to reach Dh5.97 billion, compared to Dh5.8 billion in the first quarter of 2020, which is a result of increased investments in the development of hotel and residential projects in various locations across Ras Al Khaimah and Abu Dhabi