All of the convicted are men and 14 have been sentenced to a decade of "rigorous imprisonment"
asia4 hours ago
Property developer posts Dh30.48 million earnings for the three-month period ended March 31, 2022.
RAK Properties has made a steady start to the year with reported profits of Dh30.48 million during the first quarter of 2022. The company’s total assets stood at Dh6.24 billion in Q1 compared to Dh6.21 billion in the previous quarter.
Operations have commenced at the InterContinental Ras Al Khaimah Mina Al Arab Resort & Spa during the first quarter of 2022 and this asset will add significant value to the revenue stream for subsequent years. The group is currently constructing another hospitality project, Anantara Mina Al Arab Hotel and Resort, which is progressing as per development plan and is expected to be completed by 2023.
Abdul Aziz Abdullah Al Zaabi, chairman of RAK Properties, said: “We are delighted to announce our financial results, which reflect the company’s ability to adapt to the current working climate. We continue to develop residential and hotel projects that meet the needs of the real estate market. This sector has great growth potential providing best value for investors and shareholders alike.”
Al Zaabi pointed out that RAK Properties is optimistic about the future, stating that the company is keen to continue providing residential destinations that give residents a comfortable, safe, and modern lifestyle.
The famous Phase one of Marbella Villas handed over earlier this year contributed to the revenue stream, while the Villa’s Extension is currently underway and is expected to be launched during the first half of 2022.
Foundation work has commenced on Bay Residence and sales have been launched for Gateway Residence II. In it’s statement, RAK Properties also announced that the design process has commenced for 14 beach front plots in Hayat Island.
RAK Properties plans to further develop commercial units that will benefit from the growth of commercial and tourism traffic in the emirate. The company will continue to explore investment opportunities to attract investors from a variety of new sectors.
— business@khaleejtimes.com
All of the convicted are men and 14 have been sentenced to a decade of "rigorous imprisonment"
asia4 hours ago
Many residents in the UAE stressed that maintaining these regular bedtime routines can be difficult as professional lives can often be quite demanding
uae6 hours ago
The UAE reaffirmed its consistent rejection of all forms of violence targeting civilians and undermining security and stability
uae6 hours ago
While you should definitely carry a jacket in the evenings, you should keep an umbrella at hand if you're heading to these areas
weather7 hours ago
A young child was among the dead, and more than 60 people were injured, some of them seriously
europe7 hours ago
Uthappa has represented India in 59 international matches and has been a popular figure in the Indian Premier League
sports7 hours ago
Research shows it is most common among teenagers and young adults, primarily because this age group places high value on peer validation
mental health7 hours ago
The licence can only be obtained after completing the required initial training with an accredited institution
aviation8 hours ago