The company recorded remarkable growth in various indicators, including an annual increase in revenues of 30 percent to reach 891 million dirhams (about 242.6 million dollars).
According to the company’s statement to the Abu Dhabi Financial Market on Friday, the increase in pre-tax profit and gross profit came by 27 percent and 46 percent, respectively, compared to last year, thanks to the efficiency of the company’s operational operations, continued progress in all projects and investment in development plans to meet the growing demand. In Ras Al Khaimah market.
Abdulaziz Abdullah Al Zaabi, Chairman of the Board of Directors of the company, said Ras Al Khaimah Real EstateThese results for the third quarter highlight the strength of the company’s business model and the effectiveness of its strategic vision, indicating that maintaining this upward growth path reflects the company’s continued commitment to strengthening Ras Al Khaimah’s position as a leading global destination.
He stressed RAK Properties’ keenness to keep pace with market changes, invest in promising opportunities, and continue to work closely with the Ras Al Khaimah government to enhance the quality of life in the emirate.
Sameh Muhtadi, CEO of Ras Al Khaimah Properties, said that one of the most notable results for the financial period ending at the end of September 2024 was the increase in revenues by 30 percent to reach 891 million dirhams in the third quarter, compared to 686 million dirhams for the same period last year, while profits rose. Before taxes, it increased by 27 percent, reaching 133 million dirhams in the third quarter of 2024, compared to 105 million dirhams for the same period of the year. the past.
He added that total assets increased by 20 percent to reach 7.74 billion dirhams in the third quarter of 2024, compared to 6.46 billion dirhams on December 31, 2023.
Total property rights reached 5.34 billion dirhams in the third quarter of 2024, compared to 4.30 billion dirhams on December 31, 2023.
