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FINANCIAL NEWS
UAE’s RAK Properties profit up to USD11 m in Q1
29 Apr 2014
(MENAFN) RAK Properties, a property developer listed on the Abu Dhabi Stock Exchange, has recently posted USD11.433 million net profit for the first quarter of the current year compared to USD10.888 million in the same quarter 2013, according to the Emirates 24/7.
The company revenues reached USD23.411 million. No comparative figures were given. The company”s total assets were estimated at USD1.279 billion.
Mohammed Sultan Al Qadi, Managing Director and CEO, RAK Properties, said, “We went off to a good start in 2014 as the company keyed in a net profit of Dh42 million for the first three months alone. The vibrant performance of the company not only demonstrates the growing interest for our latest range of property offerings but also reinforces Ras Al Khaimah”s position as an investment and residential destination for the Middle East region.”
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