RAK Properties achieves AED 52 million net profit for first half of the year

Press release
Published August 3rd, 2014 - 08:35 GMT

RAK Properties PJSC, Ras Al Khaimah's (RAK) biggest property developer listed on the Abu Dhabi Stock Exchange, has reported excellent performance for the first half of 2014, earning net profits worth AED 52 million, during its recent board meeting held at the company’s offices in RAK. The reported figures showed a slight increase from the AED 51 million posted over the same period in 2013. The leading property developer also revealed gaining revenues amounting to AED 149 millionwith total sales value in excess of AED 234 million for the first 6 months of this year. To date, RAK Properties’ current total assets are valued at AED 4.7 billion. The meeting was presided over by Mohammed Hasan Omran, Chairman, RAK Properties. 

According to the report, the company’s continuous growth can be attributed to the increasing investor confidence in RAK’s potential as a business and residential haven. The first half of 2014 saw the commencement of construction works for the company’s hugely successful Flamingo Villas project in the Mina Al Arab area, comprising of 124 villas. On the back of strong demand for waterfront property, the company also launched the Bermuda Villas project, a new beachfront community consisting of 157 villas and townhomes ranging from two to six bedrooms. The company also disbursed five per cent dividends amounting to AED 100 million for the year 2013. 

Mohammed Sultan Al Qadi, Managing Director and CEO, RAK Properties, said, “We are pleased with the company’s strong performance for the first half of the year—which is a clear indication of RAK Properties’ continuous growth and the increasing confidence in RAK as a strategic place to build your business and your home. We have also been carefully studying the country’s real estate market conditions, which prompted us to study launching new projects, which includes more residential developments and hospitality leisure projects. We are upbeat that the remaining half of 2014 will be very fruitful for us.” 

RAK Properties is one of the largest real-estate developers in the GCC and is currently engaged in a massive expansion phase. The company has developed a large and strong clientele, thereby enhancing its standing by bringing in top international brands to its projects.  

Background Information

RAK Properties

RAK Properties is a Public Joint Stock Company (PJSC) formed in 2005 with the support of the Government of Ras Al Khaimah (RAK).

Founded in line with the vision of His Highness Sheikh Saud Bin Saqr Al Qasimi,  Ruler of Ras Al Khaimah, RAK Properties aims at supporting and promoting the economic growth of Ras Al Khaimah as well as assisting the emirate’s community development initiatives. RAK Properties will also maximize shareholders’ value through its development projects in the coastal and inland areas of Ras Al Khaimah. 

"قاطع الرؤوس" في قبضة الاستخبارات العراقية

Published February 23rd, 2019 - 09:39 GMT
مقاتلين من داعش/ أرشيفية
مقاتلين من داعش/ أرشيفية

أعلنت الاستخبارات العسكرية العراقية، أمس الجمعة، عن اعتقال قاطع الرؤوس في "داعش" على الحدود العراقية السورية، الذي ظهر في أكثر من فيديو وهو ينفذ عمليات إعدام.

وقالت المديرية في بيان على صفحتها في موقع "فيسبوك" إن "مفارز مديرية الاستخبارات العسكرية في الفرقة 15 ، وإثر معلومات استخبارية دقيقة، ألقت القبض على أحد الإرهابيين الذين تسللوا عبر الحدود العراقية السورية والمعروف بـ (قاطع الرؤوس)".

وأضافت أن "هذا الشخص معروف بقاطع الرؤوس"، وأنه "ظهر بعدة إصدارات للدواعش أمام أشخاص قام بقطع رؤوسهم في العراق وسوريا".

 


© 2000 - 2019 Al Bawaba (www.albawaba.com)

You may also like

PR Contact

Contact Name
Orient Planet PR & Marketing Communications
Contact phone
Contact email

Previous PR’s

PR Rates

Buy credits to publish your articles on Al Bawaba Biz here

You May Also Like

Subscribe

Sign up to our newsletter for exclusive updates and enhanced content