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RAK Properties, one of the UAE’s leading property development and tourism infrastructure companies, has announced the sale of its famous beachfronts villas at Marbella project in Ras Al Khaimah (RAK).

RAK Properties PJSC announced its financial results for the first six months (H1) of the fiscal year following its Audit Committee meeting.

Giles Hannah has been named chief commercial officer, RAK Properties.

RAK Properties has welcomed a UAE cabinet decision opening the way to 100 percent ownership of property to foreign investors and professionals.

RAK Properties is sponsoring the RAK EATS initiative organised by RAK SME for the period between December 14 – 23, at its Mina Al Arab, Lagoon Walk.

RAK Properties reported that in the first half of this year (H1), revenues exceeded AED211 million (USD57.45 million), while net profits rose 59 percent over H1 2016 to AED62 million (USD16.88 million).

RAK Properties has announced the delivery of Bermuda Villas in Mina Al Arab, adding 157 completed luxury units to its diverse portfolio.

RAK Properties has awarded an AED11.5 million (USD3.13 million) enabling works contract to Al Nuaimi Group, for its upcoming InterContinental Ras Al Khaimah Mina Al Arab Resort, set to open in 2019.

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).

RAK Properties, announced the signing of agreement pertaining a AED 30 million (USD2 million) works contract with Al Nuaimi Group for its upcoming Anantara Resort & Spa within the Mina Al Arab development.