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Mina Al Arab Mina Al Arab

RAK Properties Reports Continued Growth

In 2016, RAK Properties achieved revenues in excess of AED390 million (USD106.19 million), a surge of 5.98 percent over the 2015 figure of AED368 million (USD100.2 million).

The property developer also recorded a 9.38 percent boost in net operating profits during the respective year, which stood at AED175 million (USD47.65 million), while total assets were valued at AED4.99 billion (USD1.36 billion), a year-on-year increase of 5.05 percent.

Mohammed Sultan al Qadi, CEO, RAK Properties, noted, "2016 presented a number of achievements for RAK Properties, including the announcement of further developments within Mina Al Arab.

[...] This year promises greater success for RAK Properties, with a long term plan to launch projects worth AED5 billion until 2021."