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It is expected to roll out preventive and proactive strategies, train and qualify specialists, and prepare scientific research and forecasting studies
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RAK Properties' H1 net profit rises 70%
Mohammed Sultan Al Qadi, managing director and CEO of RAK Properties
The reported half-year figures reveal a 70.5 per cent increase in net profits when compared to the same period in 2015 - up to Dh38.69 million from Dh22.69 million last year. Similarly, revenues increased from Dh92.04 million in 2015 to Dh147.10 million this year.
To date, RAK Properties' total assets are valued at Dh4.77 billion as of June 30, 2016, an increase on the Dh4.75 billion recorded on December 31, 2015.
Mohammed Sultan Al Qadi, managing director and CEO of RAK Properties, said: "The results for the first half of 2016 are a clear indication of the company's strong position in the marketplace. Despite the downturn being experienced across the industry, demand is still there and reputable developers such as RAK Properties have established trust with local, regional and international buyers and investors."
- business@khaleejtimes.com
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