Please wait...
GulfBase Live Support
- Saudi riyal symbol: strategic step toward global financial standing
- Bahrain All Share Index, Islamic Index close lower
- Oman's non-oil exports fall 16% in 2024; re-exports rise 15%
- Oman ranks 58th in 2025 Economic Freedom Index
- QCB foreign reserves grow 3.81% in February 2025
- Doha Bank announces exclusive benefits for NRIs on Visa Platinum Debit Card
- China-US trade war heats up with Beijing's tariffs to take effect
- Saudi Awwal Banks becomes first bank in Saudi Arabia to win Sustainability Program Award 2024 at Capital Markets Forum
- Qatar's international reserves climb 3.81% to $70.29bn in February
- Closing Bell: Tadawul rises on positive trading day, Nomu follows suit
16/02/2018 06:01 AST
RAK Properties reported on Thursday a 10 per cent increase in its net profit for 2017, reaching Dh192 million from Dh175 million in 2016.
Revenues of the company for 2017 were at Dh313 million. Net operating profit of the Abu Dhabi listed firm increased by 14 per cent to Dh204 million compared to Dh179 million reported for 2016.
The total assets jumped by 3.5 per cent to Dh5.2 billion at the end of 2017 and earnings per share increased to Dh0.10 compared to Dh0.09 reported in 2016.
In a statement, RAK Properties Managing Director and Chief Executive Officer Mohammad Al Qadi, said the double-digit growth in its net profit reflects the success of the company in delivering high-quality lifestyle properties. "A key delivery milestone during the year 2017 was the handover of 157 keys of the Bermuda Villas in Mina Al Arab, Ras Al Khaimah. Bermuda Villas represents a significant addition to the new developments being launched in the emirate.
"We also added North Bay Residences to our residential offerings within Hayat Island, a Dh5 billion investment which is set to be the new social and entertainment hub of Ras Al Khaimah," he said.
In the hospitality sector, two international hotel brands are under construction and expected to be completed in 2019 including a 306-room Anantara Hotel Resort in Mina Al Arab and a 350-room luxury hotel InterContinental Mina Al Arab Resort.
Gulf News
20/03/2018
RAK Properties said its board approved increasing the cash dividend to 6 per cent of the nominal value of share (6 fils per share), up from the recently recommended 5 per cent.
"The year 2
Gulf News
04/10/2017
Reasonable price, accessibility, luxurious amenities and other incentives are driving the real estate market in Ras Al Khaimah. Investors and real estate businesses are heading north, quick to sense
Gulf News
27/09/2017
Comprising one-, two-, and three-bedroom apartments, as well as duplex units, the tower will be surrounded by amenities such as restaurants, shopping options, parks, walkways, and gardens.
Construction Week Online
| Ticker | Price | Volume |
|---|
10/03/2025
Doha Bank introduced a suite of exclusive offers for NRIs on their Visa Platinum Debit Card, delivering exceptional value across travel, lifestyle, dining, and retail. These carefully curated benefit
The Peninsula
10/03/2025
Saudi Awwal Bank has been awarded the Sustainability Program of the Year 2024 at the Capital Markets Forum (CMF), organized by the Saudi Stock Exchange Group (Tadawul).
This achievement make
Saudi Gazette
10/03/2025
Saudi Aramco has lowered its crude oil prices for Asian buyers in April, marking the first reduction in three months. This price cut aligns with market expectations and follows the decision by OPEC+
Arab News
09/03/2025
United Development Company (UDC), the master developer of The Pearl and Gewan Islands, has continued its global track record of accomplishments by securing three new Guinness World Records. This rema
The Peninsula
07/03/2025
Talabat Kuwait has denied rumors of a security breach, assuring customers and partners that all personal and payment information remains fully secure.
In an official statement, Bader Al-Ghan
Trade Arabia
Financial Information Co.
P.O. Box 69410, Jeddah 11547, Saudi Arabia