Sunday, February 13, 2022 – 9:12 PM
Ras Al Khaimah, February 13/WAM/ The Ras Al Khaimah Real Estate Company – a public joint stock company – achieved a remarkable annual increase in its revenues during the year 2021 by 112% compared to the year 2020, where revenues amounted to 516 million dirhams compared to the previous year 2020.
The company also achieved revenues of 243 million dirhams, and net profits amounted to 201 million dirhams, compared to 114 million dirhams, the total profits achieved during 2020, and the total comprehensive income during the year 2021 increased to 200 million dirhams, compared to 99 million dirhams in the year 2020.
With regard to the operational achievements during the year 2021, RAK Real Estate Company continued to invest in the development of residential and hospitality properties and achieved record sales in “Marbella” villas and “Al Marsa” lands, which led to an increase in the company’s net profit compared to the previous year.
His Excellency Abdulaziz Abdullah Al Zaabi, Chairman of the Board of Directors of Ras Al Khaimah Real Estate Company, expressed his pride in the results that have been achieved, which reflect the size of the effort made by the company and confirm the growth and strength of the real estate market in the UAE in general and the Emirate of Ras Al Khaimah in particular with the development of investment opportunities available, pointing out that the company’s activities during The last fiscal year focused mainly on real estate development and management of real estate and residential complexes, in addition to selling and leasing activities, the hospitality sector and other related real estate services.
He said that thanks to the decisions and directives of the wise leadership with regard to facilities and incentives aimed at enhancing the competitiveness of the country and providing an attractive investment environment, Ras Al Khaimah Real Estate Company is on the verge of more exceptional performance during the coming period with the delivery of more real estate projects soon.
Al Zaabi valued the great support of His Highness Sheikh Saud bin Saqr Al Qasimi, Supreme Council Member and Ruler of Ras Al Khaimah, His Highness Sheikh Muhammad bin Saud bin Saqr Al Qasimi, Crown Prince of Ras Al Khaimah, and His Highness Sheikh Muhammad bin Saud bin Saqr Al Qasimi, Crown Prince of Ras Al Khaimah, for the company and for harnessing the capabilities and providing the facilities that contributed to Supporting the company’s strategy and enabling it to achieve these strong results.
WAM / Ahmed Al-Mahri / Mohamed Nabil / Abdel Nasser Moneim
