Emirates News Agency – Ras Al Khaimah Real Estate Company achieves 112% increase in revenue in 2021
Home » News » Emirates News Agency – Ras Al Khaimah Real Estate Company achieves 112% increase in revenue in 2021 February 13, 2022
Sunday 13 February 2022 – 21:12
Ras Al Khaimah, February 13/WAM/ The Ras Al Khaimah Real Estate Company – a public joint stock company – achieved a remarkable annual increase in revenue in the year 2021 of 112% compared to the year 2020, where revenues amounted to 516 million dirhams compared to the previous year 2020.
The company also achieved a turnover of 243 million dirhams, and a net profit amounted to 201 million dirhams, compared to 114 million dirhams, the total profits made during the year 2020, and the total comprehensive income during the year 2021 increased to 200 million dirhams, compared to 99. million dirhams in 2020.
Regarding operational achievements during the year 2021, RAK Real Estate Company continued to invest in the development of residential and hotel properties and achieved record sales in “Marbella” villas and “Al Marsa” land. “, which led to an increase in the company’s turnover. 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 magnitude of the effort deployed by the company and confirm the growth and the strength of the real estate market in the United Arab Emirates in general and in the Emirate of Ras Al Khaimah in particular with the development of the investment opportunities available, underlining that the activities of the company during the last financial year have mainly focused on real estate development and management of complex real estate and residential properties, in addition to sales and rental activities, the hospitality sector and other related real estate services.
He said that with the shrewd management’s decisions and guidelines on facilities and incentives aimed at enhancing the country’s competitiveness and providing an attractive investment environment, Ras Al Khaimah Real Estate Company is poised to achieve more exceptional performance over the coming period with the upcoming delivery of several real estate projects.
Al Zaabi appreciated the great support of His Highness Sheikh Saud bin Saqr Al Qasimi, Member of the Supreme Council 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 leveraging the capabilities and providing the facilities that helped support the company’s strategy and enabled it to achieve these strong results .
WAM / Ahmed Al-Mahri / Mohamed Nabil / Abdel Nasser Moneim