The net profit of the company for the 13-month period ending 30th June 2006 is AED424.661 million. This stands the company's assets at AED2.51 billion for the six-months ending 30th June 2006.
The Company's projects met business targets, which ensured sustained growth in the business and increase in shareholder value. RAK Properties has thus firmly established themselves as the premier real estate company in the Emirate of Ras Al Khaimah.
"Thanks to the vision and leadership of His Highness Sheikh Saud Bin Saqr Al Qasimi, the Crown Prince and Deputy Ruler of Ras Al Khaimah, RAK properties has managed to prove our commitment to our shareholders," said Mohammad Sultan Al Qadi, Managing Director of RAK Properties.
The company launched its first project, Julfar Towers (a 43-storied twin office and residential project at a cost of AED500 million) in February 2006 followed by Mina Al Arab (spread over 30 million sq. feet at a cost of AED 10 Billion) in May 2006. The presence of such world-class projects allows RAK properties to feel confident about the future of the company and Ras Al Khaimah alike.
Browse
related articles
RAK Properties posts steady growth in half-yearly results
- United Arab Emirates: Wednesday, July 26 - 2006 at 15:01
- PRESS RELEASE
Related content
RAK Properties, Ras Al Khaimah's largest property developer, has announced a steady growth for the first half of 2006.
Article Options
Log in to request more information from RAK Properties
Posted by Janeta Novakovic, Assistant News EditorWednesday, July 26 - 2006 at 15:01 UAE local time (GMT+4)
Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of AME Info FZ LLC / Emap Limited.
This article was updated on Sun Aug 20 2006.
Notes and Media Contacts »
RAK Properties, a Public Joint Stock Company listed on the Abu Dhabi Securities Market, is a real estate development company that operates in a sector that is enjoying an economic boom. It is established to implement the emirate's plans to promote real estate, tourism and leisure facilities in RAK and invest in interesting projects. It is intended that its activities will encourage economic growth in the UAE in general and Ras Al Khaimah in particular. The company launched its first project, Julfar Towers - a 43-storied twin office and residential project at a cost of AED500 million - in February 2006 followed by Mina Al Arab - spread over 30 million sq. feet at a cost of AED 10 Billion - in May 2006.
For further information, please contact:
Lina Anani
ASDA'A Public Relations
Exclusive Affiliate of Edelman PR Worldwide in
Middle East and North Africa
Dubai, UAE
Tel: +971-4-3344550,
Fax: +971-4-3356080
For further information, please contact:
Lina Anani
ASDA'A Public Relations
Exclusive Affiliate of Edelman PR Worldwide in
Middle East and North Africa
Dubai, UAE
Tel: +971-4-3344550,
Fax: +971-4-3356080
Disclaimer »
Articles in this section are primarily provided directly by the companies appearing or PR agencies which are solely responsible for the content. The companies concerned may use the above content on their respective web sites provided they link back to http://www.ameinfo.com
Any opinions, advice, statements, offers or other information expressed in this section of the AMEinfo.com Web site are those of the authors and do not necessarily reflect the views of AME Info FZ LLC / Emap Limited. AME Info FZ LLC / Emap Limited is not responsible or liable for the content, accuracy or reliability of any material, advice, opinion or statement in this section of the AMEinfo.com Web site.
For details about submitting your stories, please read the guide - all content published is subject to our terms and conditions
