RAK Properties PJSC declares 2022 revenue of AED 408M with Handover of 207 villas in Marbella and 266 apartments in Julphar Residence.
Additionally, RAK Properties launched 5-star InterContinental Hotel & Spas on Hayat Island. Abdul Aziz Abdullah Al Zaabi, Chairman of RAK Properties, remarked that the results were a strong foundation for their transformation strategy. Meanwhile, Sameh Al Muhtadi, the recently appointed CEO, reportedly said that their 5-star hospitality offerings were successful, and they had a strong residential development pipeline of luxury villas and apartments.
The company’s 2022 gross profit was AED 140.51M, and its net profit wasAED 31M, resulting in earnings per share of AED 0.015. By December 31, 2022, their total assets had increased from AED 6.21B in 2021 to AED 6.32B. RAK Properties has been in operation since 2005 and has completed nearly 3,000 residential units, 372,000 sq. ft of office space, and 260,000 sq. ft of retail space.
