RAK Properties financial results
Net profits of AED 68.66m for H1 announced at board meeting
RAK Properties’ financial results for H1 2011 have been announced at a board meeting.
Members of the board were informed that the company, which is listed on the Abu Dhabi Securities Market, has posted a net profit of AED 68.66 million in the first half of 29011.
Total sales revenue recognised at the end of H1 operations for the current fiscal year amounted to AED 65.42 million with an increase of AED 18.52 million compared with the corresponding period of last year.
The developer delivered two 45-storey towers, Julphar Towers in Ras Al Khaimah; 213 villas in Precinct Five in Mina Al Arab – both projects were launched in 2006. RAK Tower, one of the first projects to be completed on Reem Island, Abu Dhabi is also been handed over.
