RAK Properties records 190 per cent sales growth

This is attributed to the strong and sustained investor interest from the UAE, United Kingdom, Far East, the U.S, Canada and Russia.

Mohammed Sultan Al Qadi, Managing Director of RAK Properties said that the strong investor response is indicative of the broad appeal for RAK Properties beyond borders. He added:

"The sustained interest of overseas and regional investors in our developments underscore the quality of our products and the increasing popularity of Ras Al Khaimah as a preferred destination for entrepreneurs and tourists."

"RAK Properties supports the vision of His Highness Sheikh Saud Bin Saqr Al Qassimi, Deputy Ruler and Crown Prince of Ras Al Khaimah, to promote economic growth and transform the emirate into one of the region's leading destinations for tourism and real estate investment. The success we have achieved encourages us to continue in the same direction by initiating leading projects and forming strategic partnerships," said Al Qadi.

A recent report by Noor Capital published in Al Bayan daily praised the overall performance of RAK Properties and projected further growth and profits in the next period.

RAK Properties is one of only 15 listed companies honored by the Securities and Commodities Authority for good financial practices and disclosure. According to the criteria set by the Authority, RAK Properties was placed in the 'Gold' category, which made it the only real estate developer from the UAE to be honored in this group.