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FINANCIAL NEWS
UAE’s RAK Properties H1 net profit USD18.6m
08 Aug 2011
(MENAFN) RAK Properties said that in the year’s first six months, the developer’s net profit reached USD18.6 million, reported Gulf News.
The company added that total equity at the end of the period reached USD925 million whereas its net cash and bank balance reached USD80 million, furthermore, the company started the delivery process of a number of projects in Ras Al Khaimah and Abu Dhabi.
It also said that in the second half of the year, it would hand over 20 buildings in the USD2.7 billion lagoon precinct of Mina Al Arab project; in addition, the company would resume operations on other projects that include La Hoya Bay.
It is worth noting that the developer’s net profits last year rose 10 percent from 2009.
More News
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BBK awards over BD 1 Million to 273 winners in the February Al Hayrat Grand Prizes draw
01 Mar 2026
BBK activates partial remote working system for its workforce to ensure employee and customer safety and service continuity
24 Feb 2026
BBK discloses its financial results for the year ended 31st December 2025
05 Feb 2026
BBK announces December Al Hayrat Grand Prize winners and another wave of Grand prizes for February
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