Monday August 01, 2022

RAK Properties’ H1 revenue reaches Dhs193.99 million

RAK Properties’   H1 revenue  reaches  Dhs193.99 million

Picture used for illustrative purpose only.

RAK Properties announced its financial results for the six-month period, ending 30st June 2022 with a reported comprehensive income of Dhs25.74 million during the first half of 2022. The company’s total assets stood at Dhs6.23 billion in Q2, compared to Dhs6.2 billion at the beginning of this year.

InterContinental Ras Al Khaimah Mina Al Arab Resort & Spa has opened its doors and welcomes guests to the property, adding significant profit and value to the revenue stream of the company. The Group is currently focusing its efforts on the construction of another state-of-the-art hospitality project in its portfolio, Anantara Mina Al Arab Hotel and Resort. The project plan, which is progressing at a significant pace, is set to be complete and operational by 2023.

Commenting on the company’s first half of 2022 results, Abdul Aziz Abdullah Al Zaabi, Chairman of RAK Properties, said: “We are pleased to announce our financial results for the first half of 2022, which reflects the company’s dedication and ability to adapt quickly in the face of adversity and ongoing challenges. At RAK Properties, we strive to continue developing world-class residential and hotel projects catered to local residents of the UAE, as well as the international market wishing to invest and relocate to the region. Our projects are renowned for meeting the needs of the real estate market, and providing exceptional value to residents and visitors. The sector currently is seeing significant growth potential, a trend which will undoubtedly continue into the future, providing best value for investors and shareholders alike.”

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