31 million dirhams, the profits of “Ras Al Khaimah Real Estate” in 2022

• The company’s assets rise to 6.32 billion dirhams
• Delivery of 473 housing units

Ras Al Khaimah: «Gulf»

Ras Al Khaimah Real Estate Company announced that it achieved annual revenues amounting to 408 million dirhams for the year 2022, as the company succeeded in delivering 207 villas in “Marbella”, the luxury residential complex located on the beachfront on Hayat Island, in addition to 266 apartments in “Julfar Residence” on the island. Al Reem in Abu Dhabi. It also crowned its successful year with the opening of the InterContinental Resort & Spa, on Hayat Island, which is classified as a 5-star hotel, with superior standards that enhance luxury standards.

“Ras Al Khaimah Real Estate” recorded a total profit of 140.51 million dirhams, and a net profit of 31 million dirhams, with a profit per share of 0.015 dirhams for the year 2022. While the company’s total assets jumped on December 31, 2022 to 6.32 billion dirhams, compared to 6.21 billion dirhams in 2022. 2021.

Abdulaziz Abdullah Al Zaabi, Chairman of the Board of Directors of Ras Al Khaimah Real Estate Company, said: “These results reflect the strength of the economic and investment environment in which we operate, and provide a strong foundation for progress towards the next stage of our strategy in the current year, and preparation for what follows.”

For his part, Sameh Al-Muhtadi, CEO of Ras Al-Khaimah Properties, said: “We achieved a strong number of revenues, and we were able to achieve a record number of deliveries of residential projects and 5-star hospitality offerings.”

Al-Muhtadi continued, “These achievements place us in front of the responsibility to enhance the quality of our services, which we hope to express by opening the Anantara resort later this year, and the completion of our plans and the diversification of the comprehensive hospitality offerings in Mina Al Arab.” Which will be enriched by completing a residential development group of luxury villas and apartments.

He added, “Most importantly, today we are on the verge of starting the next phase of our development program that will build value for our customers, shareholders and the Emirate of Ras Al Khaimah.”

The company has successfully developed more than 3,000 residential units, 372,000 square feet of office space and 260,000 square feet of retail space.