RAK Properties triples H1 profit in 2023 ...United Arab Emirates

ME CONSTRUCTION NEWS - Local News
RAK Properties triples H1 profit in 2023
source : ME CONSTRUCTION NEWS ( United Arab Emirates ) () 125
RAK Properties has recorded solid growth for the first half of the year with a 164% jump in its revenue, hitting $140mn, primarily propelled by robust demand for new project launches in both Abu Dhabi and Ras Al Khaimah. This is also combined with the successful handover of completed residential projects. Announcing its financial results for the six-month period ended 30th June, 2023, RAK Properties said its net profit surged more than three-fold to hit $24.01mn from $6.96mn last year. Additionally, the company’s hospitality assets played a crucial role in enhancing revenue streams, fortifying the balance sheet, and elevating Mina Al Arab’s allure as a premier lifestyle destination in Ras Al

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