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MENAFN - 12/02/2014

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(MENAFN) Net profit of RAK Properties was estimated at USD41.102 million in 2013, registering a 5 percent rise, the company announced on Tuesday, according to Gulf News.

RAK Properties implemented giant projects of new units and handovers of completed ones in 2013.

Mohammad Sultan Al Qadi, managing director and CEO of RAK Properties, said: "In 2013, we handed over 192 residential units and offices in Mina Al Arab and Julphar Tower in Ras Al Khaimah and RAK Tower in Reem Island in Abu Dhabi. The leasing of residential, offices and retail space has seen a noticeable increase and this improvement is expected to continue during 2014."

The company's revenues were estimated at USD162.34 million in 2012.

 






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